the Share Pledge Clause Samples

The Share Pledge clause establishes that a party pledges its shares in a company as collateral to secure the fulfillment of certain obligations, typically under a loan or financing agreement. In practice, this means that if the pledging party defaults on its obligations, the secured party (such as a lender) has the right to take ownership or sell the pledged shares to recover the outstanding debt. This clause is essential for providing lenders with a form of security interest, thereby reducing their risk and incentivizing them to extend credit or financing.
the Share Pledge. The Borrower undertakes to ensure that the above Security Documents are being duly executed by the parties thereto in favour of the Agent (on behalf of the Finance Parties) on or about the date of this Agreement, legally valid and in full force and effect, and to execute or procure the execution of such further documentation as the Agent may reasonable require in order for the relevant Finance Parties to maintain the security position envisaged hereunder.
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the Share Pledge. 1.1 To secure the payment and the discharge of the Pledgor’s obligations under the credit facility agreement dated 28 May 2008 (the “Credit Facility”), entered into between the Pledgor as borrower and the Pledgee as lender, the Pledgor hereby pledges on first priority to and with the Pledgee the 58,428,955 shares of NOK 0.50 each, issued in the capital of Deep Ocean ASA (the “Target Company”), representing 54.027 % of the shares issued in that company (the (“Shares”), together with payment of dividends on the Shares and all other monies related to the Shares or the sale thereof. 1.2 The aggregate maximum amount of the pledge created hereby shall be NOK 260,000,000 plus interest, costs and expenses. 1.3 The Pledgor shall, subject to clause 2.5, have the right to vote for the Shares at any general meeting of the Target Company. 1.4 In the event of an event of default under the Credit Facility which is continuing, the Pledgee has the right to collect and use for its protection dividends and payments that otherwise fall due in respect of the Shares. 1.5 In the event that a default occurs under the Credit Facility and is continuing, the Pledgee shall have the right to enforce this Pledge of Shares in any manner legally available to it, hereunder (i) immediately acquire ownership and title to all or any of the Shares, as provided for in the Financial Collateral Act (17/2004); and (ii) immediately sell, assign or convert into money by private or public sale or auction or in such other manner and on such terms as the Pledgee in its sole discretion deems appropriate, all or any of the Shares, as provided for in the Financial Collateral Act (17/2004). 1.6 Upon any sale of the Shares the Pledgee may apply the net sales proceeds towards interest, principal and any other amount due to the Lenders under the Credit Facility in such order as decided by it. Any Shares acquired by the Pledgee shall be the undivided property of the Pledgee and any right, gain or loss on such Shares shall be for the sole account of the Pledgee. 1.7 The pledge over the Shares evidenced by this Pledge of Shares shall immediately be discharged when all amounts outstanding under the Credit Facility have been repaid in full.
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the Share Pledge. The Share Pledge to include a provision whereby the Guarantor authorises the Security Agent to release the Borrower from any and all liabilities to the Guarantor under any debt owed to the Guarantor upon enforcement of the security created by the Share Pledge and that the Security Agent, once the Finance Parties have received settlement in full, shall thereafter distribute any surplus to the Guarantor in compensation for any actual liability of the Borrower released.
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the Share Pledge. (1) Resolutions to include detailed analyses of corporate benefit in respect of upstream guarantees.
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the Share Pledge. This Accession Letter is governed by Norwegian law and ▇▇▇▇ has appointed KNOT ST as its process agents in respect of this Accession Letter and the other Finance Documents.
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Related to the Share Pledge

  • NO STRIKE PLEDGE The Union agrees that during the life of this Agreement, its agents, or its members shall not authorize, instigate, aid, or engage in any work stoppage, slowdown, sick-out, refusal to work, picketing, or strike against the District. If, during the life of this Agreement, the employees, for whatever reason engage in the aforementioned provisions, the Union shall immediately publicly order the striking employees to discontinue such action through the local media. Failure of the Union to take such action shall be subject to enforcement by the ordinary process of law.

  • The Pledge The Holders from time to time of the Securities acting through the Purchase Contract Agent, as their attorney-in-fact, hereby pledge and grant to the Collateral Agent, as collateral security for the performance when due by such Holders of their respective obligations under the Purchase Contracts constituting part of such Securities, for the benefit of the Company, a security interest in all of the right, title and interest of such Holders in the Collateral Securities constituting a part of such Securities. Prior to or concurrently with the execution and delivery of this Agreement, the initial Holders and the Collateral Agent shall (i) cause the Collateral Securities to be delivered to the Collateral Agent by Federal Reserve Bank-Wire or by book-entry transfer through the facilities of the Depositary Trust Company, as the case may be, to the account of the Collateral Agent designated by it for such purpose and (ii) take appropriate action so that the applicable Federal Reserve Bank through which such Collateral Securities have been purchased will reflect such transfer and the Pledge by appropriate entries in its records in accordance with Applicable Treasury Regulations. In addition, the execution and delivery hereof by the Purchase Contract Agent and the Collateral Agent shall constitute (i) the notification to the Collateral Agent (as bailee or otherwise) of the Pledge and (ii) an acknowledgment by the Collateral Agent (as third party in possession or otherwise) of the Pledge and of its holding of such Collateral Securities subject to the Pledge, in each case, for purposes of perfecting the Pledge under Applicable Treasury Regulations and other applicable law, as the case may be, including, to the extent applicable, the Uniform Commercial Code as adopted and in effect in any applicable jurisdiction. The pledge provided in this Section 2 is herein referred to as the "Pledge" and the Collateral Securities subject to the Pledge, excluding any Collateral Securities released from the Pledge as provided in Section 4 hereof, are hereinafter referred to as the "Pledged Collateral Securities." Subject to the Pledge, the Holders from time to time of the Securities shall have full beneficial ownership of the Collateral Securities constituting a part of such Securities.

  • Negative Pledge Agreements; Dividend Restrictions The Borrower will not, and will not permit any Restricted Subsidiary to, create, incur, assume or suffer to exist any contract, agreement or understanding which prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Administrative Agent and the Lenders or restricts any Restricted Subsidiary from paying dividends or making distributions to the Borrower or any other Restricted Subsidiary, or which requires the consent of other Persons in connection therewith; provided, however, that the preceding restrictions will not apply to encumbrances or restrictions arising under or by reason of (a) this Agreement or the Security Instruments, (b) any leases or licenses or similar contracts as they affect any Property or Lien, (c) any restriction with respect to a Restricted Subsidiary imposed pursuant to an agreement entered into for the direct or indirect sale or disposition of all or substantially all the Equity Interests or Property of such Restricted Subsidiary pending the closing of such sale or disposition, (d) customary provisions with respect to the distribution of Property in joint venture agreements, (e) any agreements with respect to any Restricted Subsidiary acquired in a transaction permitted by Section 9.05 (in which case, any prohibition or limitation shall only be effective against the Property of such Restricted Subsidiary) and (f) any agreements governing Debt permitted by Section 9.02 incurred by the Borrower or any Restricted Subsidiary.

  • Stock Pledge Agreement The term "Stock Pledge Agreement" shall have the meaning set forth in Section 6.3(xiii).

  • Equity Pledge 2.1. As collateral security for the timely and complete payment and performance of all Contract Obligations, the Pledgor hereby pledges to the Pledgee a first security interest in all of the Pledgor’s rights, title and interests, whether now owned or hereinafter acquired by the Pledgor, in the Pledged Equity (the “Equity Pledge”). 2.2. The Pledgor shall have been or will be registered at the local branch of State Administration for Industry and Commerce (“SAIC”) as one of the shareholders of the Domestic Company holding his proportion of the equity interests in the Domestic Company as set forth in Recital (A) above and hold such equity interests free and clear of encumbrances except for the Equity Pledge as provided in this Agreement and/or as otherwise agreed by the Parties. 2.3. The Pledgor hereby undertakes that he will be responsible for recording the Equity Pledge on the register of equityholders (if any) of the Domestic Company on the date hereof or as soon as practicable from the date hereof, and will use his best endeavors to register the Equity Pledge with SAIC (the “Registration of Equity Pledge”). In the event the SAIC requires that the Registration of Equity Pledge be completed by using an equity pledge agreement between the Parties substantially in form stipulated by the SAIC, subject to Section 13.5, the Parties shall enter into an equity pledge agreement in such stipulated form (the “Registration Version”) and the Pledgor shall and hereby undertakes that he will use his best endeavors to register the Equity Pledge with SAIC by using the Registration Version. 2.4. During the term of this Agreement, the Pledgee shall not be liable in any way for impairment in value of the Pledged Equity, nor shall the Pledgor have any right to make any claims against the Pledgee for such impairment in value. 2.5. Upon the occurrence of any Breaching Event, the Pledgee shall have the right to dispose of the Pledged Equity in the manner set forth in Article 4 hereof. 2.6. Without the prior written consent of the Pledgee, the Pledgor shall not increase the registered capital of the Domestic Company by contributing additional capital, or allowing any third party to contribute additional capital to the Domestic Company. 2.7. Without the prior written consent of the Pledgee, the Pledgor shall not consent to the adoption of any shareholders’ resolution or by any other means permit the Domestic Company to declare or distribute any dividends or profits. 2.8. Without the prior written consent of the Pledgee, the Pledgor shall not enter into any transactions with the Domestic Company. 2.9. During the term of the Equity Pledge, the Pledgor shall deliver to the Pledgee’s custody the original capital contribution certificate for the Pledged Equity and the original equityholders’ register (if any) containing the Equity Pledge within five business days from the execution of this Agreement or from the completion of any re-registration of shareholding if the percentage of equity interests changes (in such case, the Pledgor shall deliver to the Pledgee’s custody the updated original capital contribution certificates for the Pledged Equity and the updated original equityholders’ register (if any) containing the Equity Pledge). The Pledgee shall take custody of such original documents during the entire term of this Agreement. 2.10. The Pledgee shall have the right to collect dividends or any other distribution paid with respect to the Pledged Equity during the term of this Agreement.