Common use of Transfer, Other Liens, and Additional Shares Clause in Contracts

Transfer, Other Liens, and Additional Shares. The Pledgor agrees that it will not (a) sell, assign, or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or (b) create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for the security interest under this Pledge Agreement and Permitted Prior Liens. The Pledgor agrees that it will (a) cause each issuer of the Pledged Collateral not to issue any capital stock, partnership or membership interests or other equity securities in addition to or in substitution for the Pledged Collateral issued by such issuer, except to the Pledgor, and (b) pledge to the Secured Party in accordance with this Pledge Agreement, immediately upon its acquisition (directly or indirectly) thereof, any additional shares of capital stock or other equity securities of an issuer of the Pledged Shares.

Appears in 1 contract

Samples: Credit Agreement (Global Industries LTD)

AutoNDA by SimpleDocs

Transfer, Other Liens, and Additional Shares. The Pledgor agrees that it will not (a) sell, assign, or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or (b) create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for the security interest under this Pledge Agreement and Permitted Prior LiensLiens permitted by the Credit Agreement. The Pledgor agrees that it will (a) cause each issuer of the Pledged Collateral not to issue any capital stock, partnership or membership interests or other equity securities in addition to or in substitution for the Pledged Collateral issued by such issuer, except to the Pledgor, and (b) pledge to the Secured Party in accordance with this Pledge Agreement, immediately upon its acquisition (directly or indirectly) thereof, any additional shares of capital stock or other equity securities of an issuer of the Pledged Shares.

Appears in 1 contract

Samples: Credit Agreement (Global Industries LTD)

Transfer, Other Liens, and Additional Shares. The Pledgor agrees that it will not (ai) sell, assign, sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or (bii) create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for (A) the Liens and security interest under this Pledge Agreement and (B) other Permitted Prior Liens. The Pledgor agrees that it will (a1) cause each issuer of the Pledged Collateral not to issue any capital stockother membership interests, partnership or membership interests interests, capital stock or other equity securities in addition to or in substitution for the Pledged Collateral issued by such issuer, except to the Pledgor, Pledgor and (b2) pledge to the Secured Party in accordance with this Pledge Agreementhereunder, immediately upon its acquisition (directly or indirectly) thereof, any additional shares of membership interests, partnership interests, capital stock or other equity securities of an issuer of the Pledged Shares.Pledged

Appears in 1 contract

Samples: Credit Agreement (Brigham Exploration Co)

AutoNDA by SimpleDocs

Transfer, Other Liens, and Additional Shares. The Pledgor agrees that it will not (a) sell, assign, assign or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or (b) create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for the security interest under this Pledge Agreement and Permitted Prior LiensLiens permitted by the Note Purchase Agreement. The Pledgor agrees that it will (a) cause each issuer of the Pledged Collateral Shares not to issue any capital stock, partnership or membership interests stock or other equity securities in addition to or in substitution for the Pledged Collateral Shares issued by such issuer, except to the Pledgor, Pledgor and (b) pledge to the Secured Party in accordance with this Pledge Agreementhereunder, immediately upon its acquisition (directly or indirectly) thereof, any additional shares of capital stock or other equity securities of an issuer of the Pledged Shares.its

Appears in 1 contract

Samples: Pledge Agreement (Probex Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!