Common use of Liens on Pledged Collateral Clause in Contracts

Liens on Pledged Collateral. The Pledgor 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 the Provider) on any Pledged Collateral. The Pledgor agrees that it will cause the Client not to issue any stock or other securities in addition to or in substitution for the Pledged Membership Interests, except to the Pledgor, and the Pledgor will pledge hereunder, immediately upon its acquisition (directly or indirectly) thereof, any and all additional shares of stock or other securities of the Client.

Liens on Pledged Collateral. The Pledgor 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 lien, security interest or encumbrance (other than security interests in favor of the ProviderSecured Party) on any Pledged Collateral. The Pledgor agrees that it will cause the Client not to issue any stock or other securities in addition to or in substitution for the Pledged Membership Interests, except to the Pledgor, and the Pledgor will pledge hereunder, immediately upon its Pledgor's acquisition (directly or indirectly) thereof, any and all additional shares of stock or other securities of the Clientreceived in substitution for or with respect to any Pledged Collateral.