No Pledges Sample Clauses
The "No Pledges" clause prohibits a party from using the contract or any of its rights or interests as collateral for loans or other financial obligations. In practice, this means that neither party can assign, pledge, or otherwise encumber their rights under the agreement to third parties, such as banks or creditors, without explicit consent. This clause serves to protect the integrity of the contractual relationship by ensuring that obligations and rights remain solely between the original parties, thereby preventing complications or risks arising from third-party claims or interests.
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No Pledges. The Executive and each transferee or assignee of the Executive further agrees and covenants not to pledge, lend, hypothecate or otherwise grant any interest in the shares of the common stock, without the prior written consent of the Company, in its sole discretion. The Company shall be entitled to redeem the shares of common stock at the purchase price thereof in the event of any breach of this section.
No Pledges. Other than as provided in Section 4.2(b), no Member may pledge all or any part of its Interest, and any purported pledge shall be void ab initio.
No Pledges. Create or incur or suffer to exist any mortgage, lien, pledge, security interest, charge, encumbrance, or restriction of any kind against or in respect of any property or right of Company or Company's Subsidiaries securing any obligation in excess of $50,000, except for pledges or security interests given in connection with the acceptance of repurchase agreements or government deposits;
No Pledges. Other than pledges to lenders under the Senior Debt Agreements, the Company shall not pledge any of its equity in the Subsidiary without first obtaining the affirmative vote or consent of the holders of at least two-thirds of the outstanding Series B Stock, voting as a single class, or if there is no Series B Stock issued, without the consent of the Purchaser (not to be unreasonably withheld).
No Pledges. The Service Provider agrees that, without SARS’ prior written consent; it shall not assign, cede, transfer, pledge, hypothecate or otherwise encumber its rights to receive payments from SARS under this MSA for any reason whatsoever.
No Pledges. Subscriber has not pledged the Securities, and will not pledge the Securities during the Restricted Period (as defined below), as collateral in a margin account or otherwise with a U.S. person.
No Pledges. Neither Subscriber nor any Investor has pledged the Securities, and will not pledge the Securities during the Restricted Period (as defined below), as collateral in a margin account or otherwise with a U.S. person.
No Pledges. Until the Additional Consideration Payment Date, Telepad will not pledge, or encumber or hypothecate any Shares, except as contemplated hereby and under the Pledge Agreements.
No Pledges. The Seller shall not pledge or otherwise transfer its direct or indirect ownership interest in the Purchaser.
No Pledges. Borrower shall not further pledge, assign or grant any security interest in the Reserve Accounts or the Reserve Funds deposited therein or any Investment Property or permit any Lien to attach thereto, except for the security interest granted in Section 16 above, or any levy to be made thereon, or any UCC financing statements, except those naming Administrative Agent as the secured party, to be filed with respect thereto. Borrower shall maintain the security interest created by Section 16 above as a first priority perfected security interest and will defend the right, title and interest of Administrative Agent in and to the Reserve Accounts and the Reserve Funds and Investment Property against the claims and demands of all Persons whomsoever (other than Lenders).