Perfection of Pledge Sample Clauses
The Perfection of Pledge clause establishes the legal steps required to ensure that a security interest in pledged assets is valid and enforceable against third parties. Typically, this involves the pledgor delivering possession of the collateral to the pledgee or taking other actions such as filing appropriate notices or registrations, depending on the type of asset and jurisdiction. By specifying these requirements, the clause ensures that the pledgee’s rights are protected and prioritized over other creditors, thereby reducing the risk of disputes or challenges to the security interest.
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Perfection of Pledge. (a) Promptly after the execution of this Agreement, the Pledgors shall deliver to the Secured Parties the certificates representing all of the Pledged Shares, in form and content acceptable to the Secured Parties, duly endorsed or subscribed in blank, or accompanied by appropriate stock powers or other instruments of transfer, pledge or assignment, including, without limitation, the certificates for the Pledged Shares, and resignation(s) from all management positions in the Issuer, and enter into such other arrangements as may be necessary to give control of any Collateral to the Secured Parties within the meaning of Section 8-106 of the UCC.
(b) The Pledgors shall, from time to time, as may be required by each Secured Party with respect to all Collateral, immediately take all actions as may be requested by each Secured Party to perfect the security interest of each Secured Party in the Collateral, including, without limitation, with respect to all Collateral over which control may be obtained within the meaning of Section 8-106 of the UCC, the Pledgors shall immediately take all actions as may be requested from time to time by each Secured Party so that control of such Collateral is obtained and at all times held by each Secured Party. All of the foregoing shall be at the sole cost and expense of the Pledgors.
(c) The Pledgors hereby irrevocably authorize each Secured Party at any time and from time to time to file in any relevant jurisdiction any financing statements and amendments thereto that contain the information required by Article 9 of the UCC of each applicable jurisdiction for the filing of any financing statement or amendment relating to the Collateral, without the signature of the Pledgors where permitted by law. The Pledgors agree to provide all information required by each Secured Party pursuant to this Section promptly to each Secured Party upon request. All of the foregoing shall be at the sole cost and expense of the Pledgors.
Perfection of Pledge. 3.1 The Pledgor shall immediately upon the execution of this Agreement deliver to a third party as directed by the Security Trustee the Floating Charge Certificates or procure that such delivery is made in accordance with Clause 3.3.
3.2 The Pledgor shall do all things and acts requested by the Security Trustee to assist the Security Trustee in notifying the Floating Charge Register of the Encumbrance created by this Agreement by sending an application and notice to the Register in the form set out in Schedule 1.
3.3 On the Closing Date the Pledgor shall procure
a) that a third party as directed by the Security Trustee receives from Nordea all Floating Charge Certificates, which shall be duly endorsed in blank by the Pledgor, whereupon a third party as directed by the Security Trustee shall hold the Floating Charge Certificates as duly authorised representative of the Secured Parties; and
b) that Nordea notifies the Floating Charge Register of the release of the Nordea Pledge over the Floating Charge.
3.4 The Pledgor shall throughout the term of this Agreement do all things and acts requested by the Security Trustee to assist the Security Trustee in taking all actions required to perfect and maintain the perfection of the pledge created by this Agreement.
Perfection of Pledge. The Borrower shall, from time to time, as may be required by the Lender with respect to the MRI Minority Shares, promptly take all actions as may be requested by the Lender to perfect the security interest of the Lender in the MRI Minority Shares, so that control of such MRI Minority Shares is obtained and at all times held by the Lender. All of the foregoing shall be at the sole cost and expense of the Borrower. The Borrower hereby irrevocably authorizes the Lender at any time and from time to time to file in any relevant jurisdiction any financing statements and amendments thereto that contain the information required by the applicable law of each such jurisdiction for the filing of any financing statement or amendment relating to the MRI Minority Shares, without the signature of the Borrower where permitted by law. The Borrower agrees to provide all information required by the Lender pursuant to this Section 2(b) promptly to the Lender upon request.
Perfection of Pledge. (a) The Pledgor and the Borrower shall, from time to time, as may be required by the Secured Party with respect to all Collateral, immediately take all actions as may be requested by the Secured Party to perfect the security interest of the Secured Party in the Collateral.
(b) The Pledgor and the Borrower, as applicable, hereby irrevocably authorizes the Secured Party at any time and from time to time to file in any relevant jurisdiction any financing statements and amendments thereto that contain the information required by Article 9 of the UCC of each applicable jurisdiction for the filing of any financing statement or amendment relating to the Collateral, without the signature of the Pledgor where permitted by law. The Pledgor and the Borrower agrees to provide all information required by the Secured Party pursuant to this Section promptly to the Secured Party upon request.
Perfection of Pledge. (a) The Pledgor shall, from time to time, as may be required by the Secured Party with respect to all Collateral, take all actions as may be requested by the Secured Party to perfect the security interest of the Secured Party in the Collateral, including, without limitation, with respect to all Collateral over which control may be obtained within the meaning of Section 8-106 of the UCC, the Pledgor shall take all actions as may be requested from time to time by the Secured Party so that control of such Collateral is obtained and at all times held by the Secured Party. All of the foregoing shall be at the sole cost and expense of the Pledgor.
(b) The Pledgor hereby irrevocably authorizes the Secured Party at any time and from time to time to file in any relevant jurisdiction any financing statements and amendments thereto that contain the information required by Article 9 of the UCC of each applicable jurisdiction for the filing of any financing statement or amendment relating to the Collateral, without the signature of the Pledgor where permitted by law. The Pledgor agrees to provide all information required by the Secured Party pursuant to this Section promptly to the Secured Party upon request.
Perfection of Pledge. 3.1 The Pledgor shall immediately at the execution of this Agreement notify Nordic of the pledge created hereunder by sending a notice in substantially the form set out in Schedule 1.
Perfection of Pledge. (a) The Pledgor shall, from time to time, promptly take all actions as may be reasonably requested by the Secured Party to perfect the security interest of the Secured Party in the Collateral, including, without limitation, with respect to all Collateral over which control may be obtained within the meaning of Section 8-106 of the UCC, the Pledgor shall promptly take all actions as may be reasonably requested from time to time by the Secured Party so that control of such Collateral is obtained and at all times held by the Secured Party. All of the foregoing shall be at the sole cost and expense of the Pledgor.
(b) The Pledgor hereby irrevocably authorizes the Secured Party at any time and from time to time to file in any relevant jurisdiction any financing statements and amendments thereto and continuations thereof that contain the information required by Article 9 of the UCC of each applicable jurisdiction for the filing of any financing statement, amendment, or continuation relating to the Collateral, without the signature of the Pledgor where permitted by law. The Pledgor agrees to provide all information reasonably requested by the Secured Party pursuant to this Section promptly to the Secured Party upon request.
Perfection of Pledge. 3.1 The Pledgor will on the date hereof execute a “statement of pledge over a financial instruments account” (déclaration de constitution de ▇▇▇▇ ▇e compte d’instruments financiers) relating to the Shares it holds in the Company in the form set out in Schedule 1 and shall procure the Company to deliver to the European Collateral Agent on the date hereof a “pledge certificate” (attestation de constitution de ▇▇▇▇) in the form set out in Schedule 2, in compliance with article L.431-4 of the Code.
3.2 The Pledgor procures that the Shares is credited to the Pledged Account on the date hereof and that the credit of the Shares to the Pledged Account is recorded in the register of share transfers (registre des mouvements de titres) of the Company.
3.3 The Pledgor shall procure that any Additional Assets shall be credited directly to the Pledged Account immediately upon the Pledgor becoming the owner of the Additional Assets and shall procure that the credit of such Additional Assets to the Pledged Account is recorded in the register of share transfers (registre des mouvements de titres) of the Company.
Perfection of Pledge. Burdale shall be entitled at its option to obtain possession of the Goods in order to perfect the pledge made by Clause 21.1 and in this regard the relevant Facility Company assigns to Burdale its right, title and interest in and to the Documents and all claims and rights arising from them and the relevant Facility Company irrevocably and unconditionally authorises Burdale to do all such things as may be necessary to clear the Goods, take possession of them and realise the Goods in reduction of the relevant Facility Company's indebtedness to Burdale and in this regard the relevant Facility Company irrevocably appoints Burdale acting through any one of Burdale's directors as the relevant Facility Company's agent to sign all such documents and do all such things on the relevant Facility Company's behalf as may be necessary to give effect to the provisions of this Clause 21.2.
Perfection of Pledge. The Security Trustee shall be entitled at its option to obtain possession of the Goods in order to perfect the pledge made by Clause 8.3 (Pledge). The relevant Borrower assigns to the Security Trustee its right, title and interest in and to the Documents and all claims and rights arising from them and the relevant Borrower irrevocably and unconditionally authorises the Security Trustee to sign all documents and do all such other things as may be necessary to obtain possession of and to realise the Goods, and to apply the proceeds in reduction of amounts owing under this Agreement.