UNDERTAKING TO PLEDGE Clause Samples
The "Undertaking to Pledge" clause establishes a party's commitment to provide certain assets as collateral to secure an obligation or loan. In practice, this means the pledging party agrees to grant the other party a security interest in specified property, such as shares, equipment, or receivables, which can be claimed if the underlying obligation is not fulfilled. This clause serves to protect the interests of the secured party by ensuring there is a tangible asset available to satisfy debts or obligations in case of default.
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UNDERTAKING TO PLEDGE. The Pledgor and the Pledgee hereby agree that the Pledgor shall grant to the Pledgee for the benefit of the Beneficiaries, and, where it concerns the Parallel Debt, for the benefit of the Pledgee, the rights of pledge purported to be granted under or pursuant to this Deed.
UNDERTAKING TO PLEDGE. The Pledgor has agreed, or, as the case may be, hereby agrees with the Collateral Agent that the Pledgor shall grant to the Collateral Agent a right of pledge (pandrecht) over the Security Assets, as security for the payment of the Secured Obligations.
UNDERTAKING TO PLEDGE. The Pledgor agrees with the Pledgee and undertakes to create or, as the case may be, to create in advance (bij voorbaat) a first priority disclosed right of pledge (openbaar pandrecht eerste in rang) over all Receivables as security for the Secured Obligations.
UNDERTAKING TO PLEDGE. The Pledgor agrees (i) to pledge to the Pledgee all the Pledged Assets, including as at the date hereof, as continuing security for the Secured Debt until such time as the Secured Debt has been paid and discharged in full, and no further Secured Debt is capable of arising as further set out in Clause 7 and, therefore, (ii) to effect this Pledge on the date hereof.
UNDERTAKING TO PLEDGE. (a) The Pledgor agrees (i) to pledge to the Pledgee all Shares now or hereafter owned by it together with all Dividends and (to the extent legally permitted) Related Assets in respect of or derived from such Shares, including as at the date hereof, as continuing security for the Secured Debt until such time as the Secured Debt has been paid and discharged in full, and no further Secured Debt is capable of arising as further set out in Clause 8 and, therefore, (ii) to effect this Pledge on the date hereof and (iii) to deposit such Shares in the Account. The Beneficiary consents to the Pledge constituted by this Clause 2.
(b) The Pledgor agrees to pledge all Other Pledged Shares in accordance with subclause (a) above for which he in his capacity as beneficiary has requested or will request from the relevant Pledgor a transfer of title pursuant to Article 775 of the Swiss Civil Code.
UNDERTAKING TO PLEDGE. The Pledgor agrees (i) to pledge to the Pledgee all Shares now or hereafter owned by it together with all Dividends and (to the extent legally permitted) Related Assets in respect of or derived from such Shares, including as at the date hereof, as continuing security for the Secured Debt until such time as the Secured Debt has been paid and discharged in full, and no further Secured Debt is capable of arising as further set out in Clause 8 and, therefore, (ii) to effect this Pledge on the date hereof and (iii) to deposit such Shares in the Account. The Beneficiary consents to the Pledge constituted by this Clause 2.
UNDERTAKING TO PLEDGE. The Parties agree that in the event of a default by the Pledgor with respect to any of its Secured Obligations, Pledgor undertakes to pledge to the Pledgee, and grant a first priority security interest in, all Pledged Assets (the “Pledge”), which Pledge should become effective as of the date of such default.
UNDERTAKING TO PLEDGE a) To the extent not covered by Clause 2.1Error! Reference source not found. (Creation of Pledge) and permitted by applicable law, as security for the due performance of the Secured Obligations, the Pledgor undertakes to grant a first ranking pledge (pand in eerste rang/gage de premier rang) to the Pledgee over the Future Shares under the same terms and conditions as set out in this Agreement.
b) Upon the acquisition of Future Shares by the Pledgor, the Pledgor shall forthwith (i) notify the Pledgee of the acquisition of the Future Shares, (ii) confirm that the Future Shares are pledged to the benefit of the Pledgee under this Agreement, and (iii) arrange for a similar notice as mentioned in Clause 3.1 (Recordation of Pledge) to be recorded on the folio of the relevant Pledgor in the share register of the Company and provide to the Pledgee forthwith upon such recording a copy of the relevant folio of the share register of the Company reflecting such recording.
c) Upon the acquisition and pledge of Future Shares in accordance with this Agreement, any reference to Shares in this Agreement shall be deemed to include a reference to such Future Shares.
UNDERTAKING TO PLEDGE. The Pledgor and the Pledgees hereby agree that the Pledgor shall grant to the Pledgees the right of pledge purported to be granted pursuant to the Agreement, this Deed of Pledge, and any other Note Documents. 109