Ownership of Pledged Shares Sample Clauses

The 'Ownership of Pledged Shares' clause establishes that the pledgor retains legal ownership of the shares being pledged as collateral, even while they are subject to a security interest in favor of the pledgee. In practice, this means the pledgor continues to hold title to the shares and may receive dividends or exercise voting rights, unless otherwise restricted by the agreement. This clause clarifies the distinction between ownership and security interest, ensuring that both parties understand their rights and obligations regarding the pledged shares during the term of the pledge.
Ownership of Pledged Shares. The Pledgor shall defend the Pledged Shares against all claims and demands of all persons or entities at any time claiming the Pledged Shares or any interest therein.
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Ownership of Pledged Shares. The Shareholder represents and warrants that the Pledged Shares are owned, beneficially and of record, by the Shareholder free and clear of any other liens, pledges, or encumbrances.
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Ownership of Pledged Shares. As of the Funding Date, the Pledged Shares have been validly issued and are fully paid and nonassessable and are owned, beneficially and of record, by Elamex USA free and clear of all Liens.
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Ownership of Pledged Shares. So long as no Event of Default (as defined in Section 11 hereof) has occurred and is continuing, ▇▇▇▇▇▇▇ shall be entitled to all voting rights and all other incidents of ownership with respect to the Pledged Shares. On the occurrence and continuance of an Event of Default, subject to the interest of the Senior Lender or Gulf Coast Bank, as the case may be, Aero shall be entitled to exercise all voting rights and privileges whatsoever with respect to the Pledged Shares, and to that end ▇▇▇▇▇▇▇ hereby constitutes Aero as ▇▇▇▇▇▇▇'▇ proxy and attorney-in-fact for purposes of voting the Pledged Shares. The aforesaid appointment constitutes a power coupled with an interest and shall not be revocable until performance in full of the Obliga- tions. All Persons shall be entitled to rely conclusively upon Aero's written certification that it is entitled to vote the Pledged Shares in accordance with this Section 7.
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Related to Ownership of Pledged Shares

  • Ownership of Pledged Property The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for the security interest created by this Agreement.

  • Delivery of Pledged Shares Upon the execution of this Pledge Agreement, Pledgor shall deliver to the Company the certificate(s) representing the Pledged Shares, together with duly executed forms of assignment sufficient to transfer title thereto to the Company.

  • Ownership of Membership Interests The Member shall own all of the membership interests in the Company and the Member shall have a 100% distributive share of the Company’s profits, losses and cash flow.

  • Ownership of Shares The ownership of Shares shall be recorded on the books of the Trust or a transfer or similar agent for the Trust, which books shall be maintained separately for the Shares of each Series (and class). No certificates evidencing the ownership of Shares shall be issued except as the Board of Trustees may otherwise determine from time to time. The Trustees may make such rules as they consider appropriate for the transfer of Shares of each Series (and class) and similar matters. The record books of the Trust as kept by the Trust or any transfer or similar agent, as the case may be, shall be conclusive as to the identity of the Shareholders of each Series (and class) and as to the number of Shares of each Series (and class) held from time to time by each Shareholder.

  • Ownership of Company Shares The Shareholder is the record and/or “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended, which meaning will apply for all purposes of this Agreement) of the number of outstanding Company Shares set forth in the recitals to this Agreement. Also set forth in the recitals to this Agreement is the number of Company Shares issuable upon the exercise of the Options. The Shareholder holds the requisite power to vote the number of Company Shares set forth in the recitals to this Agreement.