Pledged Equity Securities definition
Examples of Pledged Equity Securities in a sentence
Each Pledgor and the Collateral Agent agree that the Collateral Agent’s security interest and Lien in the Pledged Equity Securities shall attach as of that date hereof.
Such Pledgor has full power and authority to enter into this Pledge Agreement and has the right (without the requirement of any consents from any Person other than those that have been obtained and are in full force and effect) to vote, pledge and grant a security interest and Lien in the Pledged Equity Securities as provided by this Pledge Agreement.
In addition, at the Collateral Agent’s request, all other steps necessary or advisable under any applicable Requirement of Law to be taken in order to perfect the first priority Lien and security interest granted free from adverse claims hereunder shall be taken by or on behalf of each Pledgor, including any notation on any certificate or Instrument representing the Pledged Equity Securities and any notation on any share register or similar document or instrument.
The Pledged Equity Securities set forth opposite its name on Schedule I and the Pledged Equity Securities pledged and delivered by such Pledgor pursuant to Section 8.02 (if any) have been duly authorized and validly issued and are fully paid and non-assessable.
Each Pledgor and the Collateral Agent hereby acknowledge that (a) value has been given and (b) each Pledgor has rights in the Pledged Equity Securities.
Except for the Pledged Equity Securities (and other than Equity Securities constituting Equity Securities of the Pledged Company that are not be required by the Credit Agreement to be pledged to the Collateral Agent for the benefit of the Secured Parties), there are no other Instruments, certificates, securities, warrants, options, outstanding subscriptions or other writings, or any Chattel Paper, evidencing or representing any interest in any Pledged Company.
The Collateral Agent and the other Secured Parties are hereby released from all responsibility for any depreciation in or loss of value of the Pledged Equity Securities.
None of the Pledged Equity Securities constitutes margin stock, as defined in Regulation U of the Board of Governors of the Federal Reserve System.
Such Pledgor is the legal and beneficial owner of the Pledged Equity Securities set forth opposite its name on Schedule I and the Pledged Equity Securities pledged and delivered by such Pledgor pursuant to Section 8.02 (if any), are free and clear of any Lien, encumbrance, and adverse claims on such Pledged Equity Securities.
So long as no Enforcement Notice is in effect, the Collateral Agent shall pay over to each relevant Lien Grantor all Cash Distributions received by the Collateral Agent upon or with respect to any Pledged Equity Securities held of record in the name of the Collateral Agent or its nominee.