Common use of Stock Collateral Clause in Contracts

Stock Collateral. The Obligor will cause the Stock Collateral to constitute at all times 100% of the total number of shares of each class of capital stock of each Issuer then outstanding. The Obligor shall cause all such shares to be duly authorized, validly issued, fully paid and nonassessable and to be free of any contractual restriction or any restriction under the charter or bylaws of the respective Issuer of such Stock Collateral, upon the transfer of such Stock Collateral (except for any such restriction contained in any Document).

Appears in 3 contracts

Samples: Pledge Agreement (Physicians Clinical Laboratory Inc), Pledge Agreement (Nu Tech Bio Med Inc), Pledge Agreement (Physicians Clinical Laboratory Inc)

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Stock Collateral. The Obligor Obligors will cause the Stock Collateral to constitute at all times 100% of the total number of shares of each class of capital stock of each Issuer then outstanding. The Obligor Obligors shall cause all such shares to be duly authorized, validly issued, fully paid and nonassessable and to be free of any contractual restriction or any restriction under the charter or bylaws of the respective Issuer of such Stock Collateral, Collateral upon the transfer of such Stock Collateral (except for any such restriction contained in any Credit Document).

Appears in 1 contract

Samples: Security Agreement (Apria Healthcare Group Inc)

Stock Collateral. The Obligor will cause the Stock Collateral to constitute at all times 100% of the total number of shares of each class of capital stock of each Issuer then outstanding. The Obligor shall will cause all such shares to be duly authorized, validly issued, fully paid and nonassessable and to be free of any contractual restriction or any restriction under the charter or bylaws of the respective Issuer of such that Stock Collateral, upon the transfer of such that Stock Collateral (except for any such restriction contained in any DocumentBasic Document and as arise under the FCC Regulations).

Appears in 1 contract

Samples: Credit Agreement (Salem Communications Corp /De/)

Stock Collateral. The Obligor will shall cause the Stock ---------------- Collateral to constitute at all times 100% of the total number of shares of each class of capital stock of each the Issuer then outstanding. The Obligor shall cause all such shares to be duly authorized, validly issued, fully paid and nonassessable and to be free of any contractual restriction or any restriction under the charter or bylaws of the respective Issuer of such Stock CollateralIssuer, upon the transfer of such that Stock Collateral (except for any such restriction contained in any Basic Document).

Appears in 1 contract

Samples: Credit Agreement (Santa Fe Gaming Corp)

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Stock Collateral. The Obligor Obligors will cause the Stock Collateral to constitute at all times 100% of the total number of shares of each class of capital stock of each Issuer then outstanding. The Obligor shall Obligors will cause all such shares to be duly authorized, validly issued, fully paid and nonassessable and to be free of any contractual restriction or any restriction under the charter or bylaws of the respective Issuer of such that Stock Collateral, upon the transfer of such that Stock Collateral (except for any such restriction contained in any Basic Document).

Appears in 1 contract

Samples: Credit Agreement (Salem Communications Corp /De/)

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