Examples of Pledgor 1 in a sentence
If such proceeds or property are received by Pledgor 1, they shall be received as trustee for the benefit of the Pledgee and shall be segregated from other property or funds of Pledgor 1 and shall be forthwith delivered to the Pledgee for and on behalf of the Secured Parties as security in the form so received (with any necessary endorsement).
Pledgor 1 shall allow, during the continuance of any of the circumstances which permit the Pledgee to enforce the Pledges 1 in accordance with Clause 7, the Pledgee or, as the case may be, their proxy or any other person designated by the Pledgee, to participate in all such shareholders’ meetings of the Company as attendants without power to vote.
In particular, Pledgor 1 shall notify the Pledgee in writing forthwith of any shareholders’ meeting at which a shareholders’ resolution is intended to be adopted which would have a materially adverse effect upon any of the Pledges 1.
Pledgor 1 may exercise its membership rights in any manner which does not adversely affect the validity or enforceability of the Pledges 1 or the existence of all or part of the GP Interests other than through profit payments pursuant to sub-Clause 4.3 above, or cause an Event of Default to occur.
In the case of any attachment (Pfändung) in respect of any of the GP Interests or any ancillary rights set out in sub-Clause 4.1, Pledgor 1 shall promptly notify the Pledgee in writing, such notice to be accompanied by any documents the Pledgee might need to defend itself against any claim of a third party.
In relation to any additional amounts for which Pledgor 1 is liable under this Agreement, the Pledgee shall be entitled to further pursue its claims (if any) and Pledgor 1 shall be entitled to prove that this amount is necessary for maintaining its stated share capital (calculated as of the date the Pledgee has given notice that it intends to enforce the security created under this Agreement).
It being understood that the assets of Pledgor 1 will be assessed at liquidation values (Liquidationswerte) if the managing directors of Pledgor 1, at the time they prepare the Management Determination (as defined below) are, due to factual or legal circumstances at that time, in their opinion not able to make a positive prognosis as to whether the business of Pledgor 1 can carry on as a going concern (positive Fortführungsprognose), in particular when the Pledges 1 are enforced.
Pursuant to the terms of that certain Pledge and Security Agreement dated as of August 20, 2015 (the “Pledge and Security Agreement”) made by TPG RE Finance Pledgor 1, LLC, a Delaware limited liability company (“Parent”), in favor of Buyer, Parent has pledged to Buyer all of the Pledged Collateral (as defined in the Pledge and Security Agreement).
If Pledgor 1 fails to deliver a Balance Sheet within the aforementioned time period, the Pledgee shall be entitled to apply the proceeds of an enforcement of the Pledges 1 towards satisfaction of the Obligations irrespective of the limitations set out in Clause 8.2 above.
Pledgor 1 holds 15,381 Common Shares in the Company (“Shares 1”).