Common use of Covenants of Pledgor Clause in Contracts

Covenants of Pledgor. Pledgor covenants and agrees as follows: 4.1 Pledgor shall perform and comply with all obligations and conditions on its part to be performed hereunder, and as may be necessary to maintain, preserve, protect and perfect the Collateral and the lien granted to Trustee hereunder. 4.2 Pledgor shall promptly deliver to Trustee or its agents all originals of certificates and other documents, instruments and agreements evidencing the Stock which are now held or hereafter received by Pledgor, together with such blank stock powers executed by Pledgor as Trustee may request from time to time. 4.3 Pledgor shall, so long as any Obligations shall be outstanding, defend its title to the Collateral and the interest of Trustee in the Collateral pledged hereunder against the claims and demands of all other Persons. 4.4 Pledgor shall not directly or indirectly create, incur, assume or suffer to exist any Liens on or with respect to any part of the Collateral (other than the Lien created by this Agreement). 4.5 Pledgor will not file or authorize or permit to be filed in any jurisdiction any financing statements under the UCC or any like statement relating to the Collateral in which Trustee is not named as the sole secured party. 4.6 Except as permitted by the Indenture or this Agreement, Pledgor will not cause, suffer or permit the sale, assignment, conveyance or other transfer of all or any portion of Pledgor's ownership interest or interests in the Pledged Subsidiaries.

Appears in 4 contracts

Sources: Pledge and Security Agreement (Herbst Gaming Inc), Pledge and Security Agreement (Herbst Gaming Inc), Pledge and Security Agreement (Herbst Gaming Inc)

Covenants of Pledgor. Each Pledgor covenants and agrees as follows: 4.1 Pledgor shall perform and comply with all obligations and conditions on its his part to be performed hereunder, and as may be necessary to maintain, preserve, protect and perfect the Collateral and the lien granted to Trustee hereunder. 4.2 Pledgor shall promptly deliver to Trustee or its agents all originals of certificates and other documents, instruments and agreements evidencing the Stock which are now held or hereafter received by Pledgor, together with such blank stock powers executed by Pledgor as Trustee may request from time to time. 4.3 Pledgor shall, so long as any Obligations shall be outstanding, defend its his title to the Collateral and the interest of Trustee in the Collateral pledged hereunder against the claims and demands of all other Persons. 4.4 Pledgor shall not directly or indirectly create, incur, assume or suffer to exist any Liens on or with respect to any part of the Collateral (other than the Lien created by this Agreement). 4.5 Pledgor will not file or authorize or permit to be filed in any jurisdiction any financing statements under the UCC or any like statement relating to the Collateral in which Trustee is not named as the sole secured party. 4.6 Except as permitted by the Indenture or this Agreement, Pledgor will not cause, suffer or permit the sale, assignment, conveyance or other transfer of all or any portion of Pledgor's ownership interest or interests in the Pledged SubsidiariesSubsidiary.

Appears in 1 contract

Sources: Pledge and Security Agreement (Herbst Gaming Inc)

Covenants of Pledgor. Until the security interests of Secured Party terminate pursuant to this Agreement, Pledgor shall comply with the following covenants and agrees agreements and shall exercise its rights with respect to the Collateral and as followsotherwise provided in the Partnership Agreement to cause the Partnership to comply with the following covenants and agreements: 4.1 5.1 Pledgor shall perform fully and comply with all obligations timely its obligations, covenants and conditions on its part to be performed hereunder, and as may be necessary to maintain, preserve, protect and perfect agreements hereunder (including the Collateral and performance of the lien granted to Trustee hereunderObligations). 4.2 5.2 Pledgor shall promptly deliver to Trustee or its agents all originals execute and deliver, upon request of certificates and other documentsSecured Party, instruments and agreements evidencing the Stock which are now held or hereafter received by Pledgor, together with such blank stock powers executed by Pledgor as Trustee may request from time to time, such financing statements, continuation statements, assignments, security agreements and such other instruments or documents as Secured Party may request to perfect, and to keep and continue perfected at all times, Secured Party’s security interest in the Collateral. 4.3 5.3 Pledgor shallhereby covenants and agrees with Secured Party that notwithstanding anything to the contrary in the Partnership Agreement, so long as any Obligations payments which would have been paid to Pledgor pursuant to the Partnership Agreement or by law in connection with any liquidation of the Partnership shall be outstanding, defend its title paid to Secured Party and applied to the Collateral and repayment of the interest of Trustee in the Collateral pledged hereunder against the claims and demands of all other PersonsObligations prior to being paid to Pledgor. 4.4 5.4 Pledgor shall not directly permit the Partnership, except with the prior written consent of Secured Party, to (a) issue any securities or indirectly interests of any kind or any options, warrants or other rights entitling any person or entity to acquire any member interests, (b) make any commitment to purchase, liquidate or otherwise acquire any such securities or interests, (c) amend the Partnership Agreement, or (d) authorize or cause any change in its capital structure. 5.5 Pledgor shall not transfer, sell, encumber or otherwise dispose of the Collateral, and shall not create, incur, assume or suffer to exist any Liens security interest, lien, charge or other encumbrance in favor of any individual or entity in, on or with respect to any part of the Collateral (other than the Lien Collateral, except as created by this Agreement)hereunder. 4.5 Pledgor will not file or authorize or permit to be filed in any jurisdiction any financing statements under the UCC or any like statement relating to the Collateral in which Trustee is not named as the sole secured party. 4.6 Except as permitted by the Indenture or this Agreement, Pledgor will not cause, suffer or permit the sale, assignment, conveyance or other transfer of all or any portion of Pledgor's ownership interest or interests in the Pledged Subsidiaries.

Appears in 1 contract

Sources: Pledge Agreement (Mesa Offshore Trust)