Common use of No Pledge or Security Interest Clause in Contracts

No Pledge or Security Interest. The purpose of the Company’s retention of Executive’s certificates in respect of Unvested Shares and executed security powers is solely to facilitate the repurchase provisions set forth in Section 3 herein and does not constitute a pledge by Executive of, or the granting of a security interest in, the underlying equity; provided that the Company acknowledges that until GTCR Fund VII releases the security interest granted to it in the Executive Securities by Executive pursuant to the terms of the Pledge Agreement the Company shall hold such certificates on behalf of GTCR Fund VII subject to and in accordance with the terms of the Pledge Agreement.