Junior Pledge Agreement definition

Junior Pledge Agreement has the meaning set forth in the Security Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Junior Pledge Agreement has the meaning set forth in the recitals to this Agreement.

Junior Pledge Agreement substantially in the form of the Borrower Pledge Agreement (as such term is defined in the Senior Term Loan Agreement) and attached as Annex 3 hereto, which Junior Pledge Agreement shall provide a first-ranking pledge for the benefit of the Secured Parties hereunder on the Class D shares of the Company represented by the Pledged Shares, and cause the Class D Shares to be registered in the name of the Borrower, subject to the lien created pursuant to the Junior Pledge Agreement, provided that at the time of such registration the Borrower shall have executed and delivered to the Collateral Agent the Junior Pledge Agreement. The Borrower shall use commercially reasonable efforts to cause the Company to (i) acknowledge the existence of a pledge of the Class D Shares of the Company under the Junior Pledge Agreement, (ii) cause the Caja de Valores S.A. or any other entity that keeps the registry of the Shares issued by the Company to register such pledge and (iii) take any other action necessary to perfect such pledge under applicable law and to permit the Collateral Agent to exercise its rights and remedies thereunder. Until such time as the Borrower shall have executed and delivered the Junior Pledge Agreement, the Collateral Agent shall be entitled to hold the Class D Shares as Collateral pursuant to the terms of this Agreement. The Borrower hereby acknowledges that the pledge of the Class D Shares of the Company under the Junior Pledge Agreement shall for all purposes constitute a continuation of the security interest created hereunder in the American Depositary Shares.

Examples of Junior Pledge Agreement in a sentence

Until such time as the Borrower shall have executed and delivered the Junior Pledge Agreement, the Collateral Agent shall be entitled to hold the Class D Shares as Collateral pursuant to the terms of this Agreement.
The Borrower shall use commercially reasonable efforts to cause the Company to (i) acknowledge the existence of a pledge of the Class D Shares of the Company under the Junior Pledge Agreement, (ii) cause the Caja de Valores S.A. or any other entity that keeps the registry of the Shares issued by the Company to register such pledge and (iii) take any other action necessary to perfect such pledge under applicable law and to permit the Collateral Agent to exercise its rights and remedies thereunder.
The Borrower hereby acknowledges that the pledge of the Class D Shares of the Company under the Junior Pledge Agreement shall for all purposes constitute a continuation of the security interest created hereunder in the ADSs.
The Borrower hereby acknowledges that the pledge of the Class D Shares of the Company represented by the Pledged Shares under the Junior Pledge Agreement shall for all purposes constitute a continuation of the security interest created hereunder in the American Depositary Shares evidencing the Pledged Shares.
The Borrower hereby acknowledges that the pledge of the Class D Shares of the Company under the Junior Pledge Agreement shall for all purposes constitute a continuation of the security interest created hereunder in the American Depositary Shares.
Until such time as the Borrower shall have executed and delivered the Junior Pledge Agreement, the Collateral Agent shall be entitled to hold the Class D Shares of the Company represented by the Pledged Shares as Collateral pursuant to the terms of this Agreement.

More Definitions of Junior Pledge Agreement

Junior Pledge Agreement means the Pledge Agreement (as such term is defined in the Junior Debt Agreement).

Junior Pledge Agreement means the Second-Lien Pledge Agreement, dated as of October 2, 2012, among the Company, Hovnanian, the other Grantors and the Junior Collateral Agent.

Junior Pledge Agreement means the Pledge Agreement dated as of December 31, 1998, among the Borrower, the Holdings Guarantors party thereto, the Subsidiary Guarantors party thereto and the Junior Collateral Agent, as the same may be amended, supplemented or otherwise modified from time to time.