ACCOUNTS RECEIVABLE AND BANK ACCOUNT PLEDGE AGREEMENT BY AND BETWEEN QUALYTEXTIL S/A, as Pledgor, AND WACHOVIA BANK, NATIONAL ASSOCIATION as Pledgee May 13, 2008.Accounts Receivable and Bank Account Pledge Agreement • May 15th, 2008 • Lakeland Industries Inc • Orthopedic, prosthetic & surgical appliances & supplies
WHEREAS after the execution of a Share Purchase Agreement by and among Lakeland, Lakeland do Brasil, Pledgor, and its shareholders, Lakeland do Brasil shall be the legal owner of 1,507,701 shares, being 1,492,624 shares of common stock and 15,077 shares of Class A preferred stock, without par value, representing in the aggregate, 100% of the capital stock of Pledgor;
