Common use of Liens on Pledged Collateral Clause in Contracts

Liens on Pledged Collateral. The Borrower will not sell or otherwise dispose of, or grant any option with respect to any of the Pledged Collateral or create or suffer to exist any lien (other than security interests in favor of OXiGENE) on any Pledged Collateral, (provided, however, that Borrower may sell the Pledged Shares subject to the condition that the principal and accrued interest of the Purchase Note attributable to such shares is repaid in full to OXiGENE prior to the transfer of such shares pursuant to such sale). The Borrower will pledge hereunder, immediately upon his acquisition (directly or indirectly) thereof, any and all shares of stock or other securities received by him in substitution for the Pledged Shares.

Liens on Pledged Collateral. The Borrower will not sell or otherwise dispose of, or grant any option with respect to any of the Pledged Collateral or create or suffer to exist any lien (other than security interests in favor of OXiGENE) on any Pledged Collateral, (provided, however, that Borrower may sell the Pledged Shares subject to the condition that the principal and accrued interest of the Purchase Note attributable to such shares is repaid in full fill to OXiGENE prior to the transfer of such shares pursuant to such sale). The Borrower will pledge hereunder, immediately upon his acquisition (directly or indirectly) thereof, any and all shares of stock or other securities received by him in substitution for the Pledged Shares.