Common use of Maintenance of Priority of Pledge Clause in Contracts

Maintenance of Priority of Pledge. Each Pledgor shall be liable for and shall from time to time pay and discharge all taxes, assessments and governmental charges imposed upon the Stock by any federal, state or local authority, the liens of which would or might be held prior to the right of Agent in and to the Stock. Each Pledgor shall execute and deliver such further documents and take such further actions as may be reasonably required or deemed advisable by Agent to confirm the rights of Agent in and to the Stock or otherwise to effectuate the intention of this Stock Pledge Agreement.