Amended and Restated Pledge and Security Agreement Clause Samples
The Amended and Restated Pledge and Security Agreement is a legal provision that updates and replaces a previous agreement in which a borrower pledges certain assets as collateral to secure a loan or other obligation. This clause specifies the terms under which the collateral is held, the rights and responsibilities of both the lender and borrower, and any changes from the original agreement, such as additional assets being pledged or revised enforcement procedures. Its core function is to ensure that the lender maintains a valid and enforceable security interest in the collateral, thereby reducing credit risk and clarifying the parties' obligations in the event of default.
Amended and Restated Pledge and Security Agreement. This Agreement amends, restates and replaces the Original Pledge Agreement in its entirety; provided, all accrued liabilities of Borrower and Grantor under the Original Pledge Agreement (if any) shall continue under this Agreement.
Amended and Restated Pledge and Security Agreement. The parties to this Agreement agree that, on the Closing Date, the terms and provisions of the Original Pledge and Security Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this Agreement. All accrued liabilities of each Grantor under the Original Pledge and Security Agreement shall continue as liabilities under (and shall be governed by the terms of) this Agreement and the other Loan Documents. Without limiting the foregoing, upon the effectiveness hereof, all references in any existing Loan Documents to the “Security Agreement” or “Pledge and Security Agreement” shall be deemed to refer to this Agreement.
Amended and Restated Pledge and Security Agreement. The Administrative Agent shall have received an executed Amended and Restated Pledge and Security Agreement by and among the Credit Parties and the Collateral Agent in form and substance substantially the same as the agreement attached hereto as Exhibit B.
Amended and Restated Pledge and Security Agreement. Debtor recognizes that Purchaser may be unable to effect a public sale of all or any part of the Collateral by reason of certain prohibitions contained in the Securities Act of 1933, as amended (the “Securities Act”), or other applicable laws, rules or regulations, but may be compelled to resort to one or more private sales to a restricted group of purchasers who will, among other things, be obliged to agree to acquire the Collateral or any part thereof for their own account, for investment and not with a view to the distribution or resale thereof. Debtor agrees that private sales so made may be at prices and on terms less favorable than if the Collateral were sold at public sales, and that Purchaser has no obligation to delay the sale of any Collateral for the period of time necessary to permit the Collateral to be registered for public sale under the Securities Act or any other applicable law, rule or regulation. Debtor agrees that private sales made under the foregoing circumstances shall be deemed to have been made in a commercially reasonable manner.
Amended and Restated Pledge and Security Agreement. The Amended and Restated Pledge and Security Agreement shall have been duly executed and delivered by Borrower, Holdings, Spansion Technology, the other grantors party thereto and the Collateral Agent.
Amended and Restated Pledge and Security Agreement. An Amended and Restated Pledge and Security Agreement, in substantially the form attached as Exhibit C hereto, duly executed and delivered by the Obligors and the Administrative Agent. In addition, the Obligors shall have taken such other action as the Administrative Agent shall have requested in order to perfect the security interests created pursuant to the Security Documents to the extent such actions have not already been taken pursuant to the Original Credit Agreement.
Amended and Restated Pledge and Security Agreement. The First Amended and Restated Pledge and Security Agreement executed by the Borrower and each Domestic Guarantor in favor of the Agent for the benefit of the Banks.
Amended and Restated Pledge and Security Agreement. On the Restatement Effective Date, each Credit Party shall have (x) duly authorized, executed and delivered the Amended and Restated Pledge and Security Agreement substantially in the form of Exhibit I (as modified, supplemented or amended from time to time, the “Pledge Agreement”) and shall have (A) delivered to the Collateral Agent, as pledgee, all the certificated Pledged Securities referred to therein, together with executed and undated stock powers in the case of capital stock constituting Pledged Securities, and (B) otherwise complied with all of the requirements set forth in the Pledge Agreement and (y) duly authorized, executed and delivered any other related documentation necessary or advisable to perfect the Lien on the Pledge Agreement Collateral referred to in the Pledge Agreement in the respective jurisdictions of formation of the Credit Parties; provided, however, that notwithstanding the foregoing, Holdings shall only be required to pledge the equity interests it holds in Trico Shipping and its Subsidiaries, with the exception of DeepOcean.
Amended and Restated Pledge and Security Agreement. This Third Amendment to Second Amended and Restated Credit Agreement and First Amendment to Second Amended and Restated Pledge and Security Agreement (this “Third Amendment”), dated as of May 1, 2020 (the “Third Amendment Effective Date”), is among Centennial Resource Production, LLC, a Delaware limited liability company (the “Borrower”); Centennial Resource Development, Inc., a Delaware corporation (the “Parent”); each of the other undersigned guarantors (the “Guarantors”, and together with the Borrower, the “Credit Parties”); each of the Lenders party hereto; and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”).