Examples of Seller Pledge Agreement in a sentence
In the event Seller does not complete the Transfer by December 31, 2013, subject to any rights of PCH, Buyer shall be entitled to foreclose such assets of Seller in accordance with the Seller Pledge Agreement, to recover the Liquidated Damages Settlement, together with reasonable attorney’s fees and costs of court.
Other than the Seller Pledge Agreement, Holdings is not and will not become a party to or otherwise bound by any agreement, other than this Agreement, which restricts in any manner the rights of any present or future holder of any of the Pledged Stock or any future holder of Pledged Securities with respect thereto.
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Pure Cycle shall deliver such Pledged Common Stock to facilitate such sale, but, under the terms of the Seller Pledge Agreement, the proceeds of sale of such Pledged Common Stock shall continue to be subject to the security interest created by the Seller Pledge Agreement and shall be promptly applied first to payment of Excluded Indebtedness, and, if Excluded Indebtedness has been paid in full, then to other Obligations under the Seller Pledge Agreement.
Any Pledged Common Stock not sold in such registration shall again be redelivered to Pure Cycle and shall remain subject to the Seller Pledge Agreement in accordance with the terms of that agreement.
The Company informed HP A&M that unless such defaults were cured within thirty days, the Property Management Agreement would be terminated and the Company would proceed to exercise certain rights and remedies under the Arkansas River Agreement, the Seller Pledge Agreement, and the Property Management Agreement to protect its assets.
At any time when High Plains is in material default of any obligation under the Purchase Agreement, the Property Management Agreement or the Seller Pledge Agreement, or when the High Plains’ director is in material default under a Nonsolicitation Agreement, in either case which remains uncured thirty (30) days after receiving written notice thereof from Pure Cycle, then the obligations of Xxxxxxx under this Agreement shall be suspended until such default is cured to Pure Cycle’s reasonable satisfaction.
If High Plains has requested registration of any Demand Securities or Piggyback Securities that are pledged to Pure Cycle under the Seller Pledge Agreement (the “Pledged Common Stock”), High Plains shall so identify the Pledged Common Stock in the written notice delivered to Pure Cycle.
On July 2, 2012, the Company formally notified HP A&M that its failure to pay the promissory notes constituted an Event of Default under the Seller Pledge Agreement (as defined below) and a default of a material covenant under the Arkansas River Agreement.
At any time when High Plains is in material default of any obligation under the Purchase Agreement, the Property Management Agreement or the Seller Pledge Agreement, or when the High Plains’ director is in material default under a Nonsolicitation Agreement, in either case which remains uncured thirty (30) days after receiving written notice thereof from Pure Cycle, then the obligations of Hxxxxxx under this Agreement shall be suspended until such default is cured to Pure Cycle’s reasonable satisfaction.