Permitted Pledge Sample Clauses

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Permitted Pledge. Any Member may at any time, without complying with Section 9.2 or 9.3, pledge all or part of its Units as security to a bona fide debt obligation of such Member, provided that the transferee is not a Prohibited Transferee (a “Permitted Pledge”).
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Permitted Pledge. A Member may pledge, mortgage or hypothecate ("PLEDGE") all or any part of its Interest in the Company if such Pledge constitutes security for a loan incurred (i) to enable the Member to acquire the interest in the Company of a selling Member, or (ii) to make an additional Capital Contribution in excess of the Member's Committed Capital set forth in Exhibit A pursuant to this Agreement. If the Pledge is forfeited to satisfy such loan or is foreclosed upon, and the Membership Interest sold at a public or private sale or retained by the pledgee in full or partial satisfaction of the law, the Person who obtains the Interest shall not be deemed a Member hereunder unless approved by the Board pursuant to the terms of this Article XIV and the provisions of Section 14. 4 hereof shall apply.
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Permitted Pledge. Notwithstanding the foregoing Section 3(a), the ▇▇▇▇▇▇ Group will be permitted to pledge Covered Series A Shares to a bona fide financial institution (so long as such pledge does not prevent or otherwise restrict ▇▇▇▇▇▇ from voting such shares pursuant to the Proxy and this Agreement prior to any foreclosure of such pledge, but shall not be permitted to pledge any other Covered Shares. ▇▇▇▇▇▇ (on behalf of the ▇▇▇▇▇▇ Group) will take such actions as are reasonably necessary to enable ▇▇▇▇▇▇ to vote the Covered Series A Shares subject to any such pledge prior to any foreclosure (including, for the avoidance of doubt, delivering instructions to the pledgee or other custodian with respect to ▇▇▇▇▇▇’▇ right to vote such shares).
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Permitted Pledge. 21 14.4 Transfer to Person who is Not a Member.........................21 14.5
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Permitted Pledge. Section 3.1 Pre-closing............................................ Section 2.2 Private Placement Memorandum........................... Section 3.6
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Permitted Pledge. Notwithstanding the foregoing in this Article 9, Tenant may at any time encumber or pledge its interest in any and all of Tenant’s furnishings, property, equipment or trade fixtures situated on the Leased Premises (a “Personal Property Security Interest”). Within thirty (30) days following request in writing from a lender of Personal Property Security Interest, Landlord shall execute, acknowledge and deliver such documents as such Personal Property Lender may reasonably request, and as may be reasonably acceptable to Landlord. Notwithstanding the foregoing, any such lien held by a Personal Property Lender, shall not extend to either Tenant’s leasehold interest in the Leased Premises or the ownership interest of Landlord in and to the Leased Premises and shall be subordinate and inferior to the liens on the Leased Premises created by any mortgages in favor of any Landlord’s lender. Tenant’s rights granted in this Section shall apply notwithstanding any terms of this Lease expressly or by implication to the contrary, and the exercise of such rights shall not constitute a default under this Lease.
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Permitted Pledge. Notwithstanding any other provision of this Agreement, any Series 2011-1 Noteholder may at any time pledge or grant a security interest in all or any portion of its rights (including, without limitation, its Series 2011-1 Note and its Series 2011-1 Note Commitment and all rights to payment of interest and repayment thereunder) under this Agreement and the other Related Documents to secure obligations of such 2011-1 Noteholder to a Federal Reserve Bank, the U.S. Treasury or the Federal Deposit Insurance Corporation, without notice to or consent of the Issuer or any other Person; provided, however, that no such pledge or grant of a security interest shall release any Series 2011-1 Noteholder from any of its obligations hereunder or substitute any such pledgee or grantee for such Series 2011-1 Noteholder as a party hereto.
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Permitted Pledge. Notwithstanding the provisions of this Section 3, Wils▇▇ ▇▇▇ pledge any shares of Wils▇▇'▇ ▇▇▇mon Stock (a) to the Company to secure indebtedness to Company incurred by Wils▇▇ ▇▇ connection with the purchase of Common Stock by Wils▇▇ ▇▇▇m Company and (b) to a reputable financial institution to secure a loan to Wils▇▇ ▇▇▇ to exceed $500,000 in principal amount at any time outstanding; provided, however, that any such pledge is made expressly subject to the terms, restrictions and conditions contained in this Agreement and the pledgee executes and delivers to the holders of Investor Underlying Common Stock prior thereto the agreement required pursuant to Section 3.4 above.
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Related to Permitted Pledge

  • Permitted Assignments A Lender may assign to an Eligible Assignee any of its rights and obligations under the Loan Documents, as long as (a) each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of $5,000,000 (unless otherwise agreed by Agent in its discretion) and integral multiples of $1,000,000 in excess of that amount; (b) except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregate amount of the Commitments retained by the transferor Lender is at least $5,000,000 (unless otherwise agreed by Agent in its discretion); and (c) the parties to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the Loan Documents to (i) any Federal Reserve Bank or the United States Treasury as collateral security pursuant to Regulation A of the Board of Governors and any Operating Circular issued by such Federal Reserve Bank, or (ii) counterparties to swap agreements relating to any Loans; provided, however, that any payment by Borrowers to the assigning Lender in respect of any Obligations assigned as described in this sentence shall satisfy Borrowers’ obligations hereunder to the extent of such payment, and no such assignment shall release the assigning Lender from its obligations hereunder.

  • Permitted Debt Create, incur, guarantee or suffer to exist any Debt, except the following (collectively, "Permitted Debt"): (a) the Obligations; (b) Subordinated Debt, together with unsecured Debt permitted under Section 10.2.1(i), up to $10,000,000 in the aggregate at any time; (c) Permitted Purchase Money Debt; (d) existing Borrowed Money not satisfied with the initial Loan proceeds and set forth on Schedule 10.2.1; (e) [Reserved]; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by an Obligor or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $2,500,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied; (i) unsecured Debt, together with Subordinated Debt permitted under Section 10.2.1(b), up to $10,000,000 in the aggregate at any time; (j) intercompany Debt permitted under Section 10.2.5(a); (k) Debt of any Excluded Subsidiary, in an aggregate outstanding amount, for all Excluded Subsidiaries, not to exceed $5,000,000 at any time; (l) Revolving Loan Obligations (including those arising from Bank Products) long as such Revolving Loan Obligations do not exceed the Maximum ABL Principal Obligations (as defined in the Intercreditor Agreement); (m) Debt under performance bonds, surety bonds, release, appeal and similar bonds, statutory obligations or with respect to workers' compensation claims, in each case incurred in the Ordinary Course of Business, and unsecured reimbursement obligations in respect of any of the foregoing; (n) to the extent constituting Debt, unsecured obligations in respect of purchase price adjustments, earn-outs, non-competition agreements, and other similar arrangements, or other deferred payments of a similar nature, representing consideration for a Permitted Acquisition and incurred in connection with any Permitted Acquisition, not to exceed $500,000 in the aggregate, so long as such unsecured Debt is on terms and conditions reasonably satisfactory to Agent; (o) customer advances or deposits received for goods and services purchased in the Ordinary Course of Business; (p) Indebtedness representing installment insurance premiums (for insurance not to exceed 1 year) owing in the Ordinary Course of Business; and (q) Other Debt up to $1,000,000 in the aggregate at any time.

  • Security Interests in Collateral To secure their Obligations under this Agreement and the other Loan Documents, the Loan Parties shall grant to the Collateral Agent, for its benefit and the ratable benefit of the other Secured Parties, a first-priority security interest in all of the Collateral pursuant to the Security Documents.

  • Negative Pledge Agreements The Borrower will not, and will not permit any of the Restricted Subsidiaries to, enter into or permit to exist any Contractual Requirement (other than this Agreement or any other Credit Document or any documentation in respect of secured Indebtedness otherwise permitted hereunder) that limits the ability of the Borrower or any Guarantor to create, incur, assume or suffer to exist Liens on property of such Person for the benefit of the Secured Parties with respect to the Obligations or under the Credit Documents; provided that the foregoing shall not apply to Contractual Requirements that (i)(x) exist on the Closing Date and (to the extent not otherwise permitted by this Section 10.8) are listed on Schedule 10.8 and (y) to the extent Contractual Requirements permitted by clause (x) are set forth in an agreement evidencing Indebtedness or other obligations, are set forth in any agreement evidencing any Permitted Refinancing Indebtedness incurred to Refinance such Indebtedness or obligation so long as such Permitted Refinancing Indebtedness does not expand the scope of such Contractual Requirement, (ii) are binding on a Restricted Subsidiary at the time such Restricted Subsidiary first becomes a Restricted Subsidiary of the Borrower, so long as such Contractual Requirements were not entered into solely in contemplation of such Person becoming a Restricted Subsidiary of the Borrower, (iii) represent Indebtedness of a Restricted Subsidiary of the Borrower that is not a Guarantor to the extent such Indebtedness is permitted by Section 10.1 so long as such Contractual Requirement applies only to such Subsidiary, (iv) arise pursuant to agreements entered into with respect to any sale, transfer, lease or other Disposition permitted by Section 10.4 and applicable solely to assets under such sale, transfer, lease or other Disposition, (v) are customary provisions in joint venture agreements and other similar agreements applicable to joint ventures permitted by Section 10.5 and applicable solely to such joint venture or otherwise arise in agreements which restrict the Disposition or distribution of assets or property in oil and gas leases, joint operating agreements, joint exploration and/or development agreements, participation agreements and other similar agreements entered into in the ordinary course of the oil and gas exploration and development business, (vi) are negative pledges and restrictions on Liens in favor of any holder of Indebtedness permitted under Section 10.1, but solely to the extent any negative pledge relates to the property financed by or the subject of such Indebtedness, (vii) are customary restrictions on leases, subleases, licenses or asset sale agreements otherwise permitted hereby so long as such restrictions relate to the assets subject thereto, (viii) comprise restrictions imposed by any agreement relating to secured Indebtedness permitted pursuant to Section 10.1 to the extent that such restrictions apply only to the property or assets securing such Indebtedness, (ix) are customary provisions restricting subletting or assignment of any lease governing a leasehold interest of the Borrower or any Subsidiary, (x) are customary provisions restricting assignment of any agreement entered into in the ordinary course of business, (xi) restrict the use of cash or other deposits imposed by customers under contracts entered into in the ordinary course of business, (xii) are imposed by Applicable Law, (xiii) exist under any documentation governing any Permitted Refinancing Indebtedness incurred to Refinance any Indebtedness but only to the extent such Contractual Requirement was contained in the document evidencing the Indebtedness being refinanced, (xiv) customary net worth provisions contained in real property leases entered into by Subsidiaries of the Borrower, so long as the Borrower has determined in good faith that such net worth provisions would not reasonably be expected to impair the ability of the Borrower and its Subsidiaries to meet their ongoing obligation and (xv) any restrictions regarding licenses or sublicenses by the Borrower and its Restricted Subsidiaries of Intellectual Property in the ordinary course of business (in which case such restriction shall relate only to such Intellectual Property).

  • Permitted Assignment Subject to the provisions of Section 5.6, the Company shall have the right to assign this contract to its successors or assigns, and all covenants or agreements hereunder shall inure to the benefit of and be enforceable by or against its successors or assigns.