Common use of Pledge and Security Interest Clause in Contracts

Pledge and Security Interest. (a) As collateral for the full and timely compliance of any and all of Pledgor's obligations under the Loan Agreement and the Guarantee Agreement, including, without limitation, payment and/or reimbursement of principal, payment of interest due, default interest, disbursements, consultants' and attorneys' fees due and payable and all other additional charges and amounts owed by the Company to the Pledgee (the "Secured Obligations"), the Pledgor hereby grants to LoJack a pledge of, first lien on and security interest in, the Pledged Stock (the "Pledge"). (b) Pursuant to Section 3217 of the Argentine Civil Code, the Secured Obligations amount to an estimated US$ 1,750,000 (U.S. dollars One Million Seven Hundred Fifty Thousand) on account of principal, plus any compensatory and late interest and any other additional charges and/or any other amount of money payable by the Pledgor and/or the Company to the Pledgee under the Loan Agreement and the Guarantee Agreement as well as all other obligations of undetermined and/or contingent value accrued thereunder. (c) The Pledge shall be perfected on the date of this Agreement, by: (i) providing notice thereof to the President of the Board of the Company on the terms contemplated in Exhibit II hereto; (ii) the annotation in the Stock Registry Book of the Company of the Pledge on the Pledged Stock; and (iii) delivery of the Certificates by the Pledgor to LoJack, with a legend, on the reverse of each Certificate, stating that the Pledged Stock is pledged and encumbered pursuant to the terms of this Agreement.

Pledge and Security Interest. (a) As collateral for the full and ---------------------------- timely compliance of any and all of Pledgor's obligations under the Loan Agreement Interim Loans and the Guarantee Agreement, including, without limitation, payment and/or reimbursement of principal, payment of interest due, default interest, disbursements, consultants' and attorneys' fees due and payable and all other additional charges and amounts owed by the Company to the Pledgee (the "Secured Obligations"), the Pledgor hereby grants to LoJack a pledge of, first lien on and security interest in, the Pledged Stock (the "Pledge"). (b) Pursuant to Section 3217 of the Argentine Civil Code, the Secured Obligations amount to an estimated US$ 1,750,000 US$2,300,000.00 (U.S. dollars One Two Million Seven Three Hundred Fifty Thousand) on account of principal, plus any compensatory and late interest and any other additional charges and/or any other amount of money payable by the Pledgor and/or the Company to the Pledgee under the Loan Agreement Interim Loans and the Guarantee Agreement as well as all other obligations of undetermined and/or contingent value accrued thereunder. (c) The Pledge shall be perfected on the date of this Agreement, by: (i) providing notice thereof to the President of the Board of the Company on the terms contemplated in Exhibit II III hereto; (ii) the annotation in the Stock Registry Book of the Company of the Pledge on the Pledged Stock; and (iii) delivery of the Certificates by the Pledgor to LoJack, with a legend, on the reverse of each Certificate, stating that the Pledged Stock is pledged and encumbered pursuant to the terms of this Agreement.

Pledge and Security Interest. (a) As collateral for The Pledgor hereby pledges to the full Secured Parties and timely compliance of any hereby grants to the Secured Parties a first priority lien on, and security interest in, all his right, title and interest in and to the Shares owned by the Pledgor and which are set forth on Schedule A attached hereto (the "Pledged Shares"), and all proceeds of Pledgor's obligations under the Loan Agreement and the Guarantee AgreementPledged Shares, including, without limitation, payment and/or reimbursement all cash, securities or other property distributed in respect of principalor in exchange for any or all such Pledged Shares (together with the Pledged Shares, payment of interest due, default interest, disbursements, consultants' and attorneys' fees due and payable and all other additional charges and amounts owed by the Company to the Pledgee (the "Secured ObligationsPledged Collateral"), as security for the Pledgor hereby grants prompt and complete payment when due of all amounts payable to LoJack a pledge of, first lien on and security interest inthe Secured Parties under the Amendment Agreement, the Pledged Stock Note Purchase Agreement, the Notes and this Agreement (collectively, the "PledgeObligations"). (b) Pursuant The Pledgor agrees to Section 3217 deliver promptly or cause to be delivered to the Secured Parties all Pledged Shares, and any and all certificates or other instruments or documents representing any of the Argentine Civil Code, Pledged Collateral (together with any necessary endorsement). All Pledged Shares delivered to the Secured Obligations amount to an estimated US$ 1,750,000 (U.S. dollars One Million Seven Hundred Fifty Thousand) on account Parties shall be accompanied by undated stock power duly executed in blank or other instruments of principal, plus any compensatory and late interest and any other additional charges and/or any other amount of money payable by the Pledgor and/or the Company transfer satisfactory to the Pledgee under Secured Parties and by such other instruments and documents as the Loan Agreement and the Guarantee Agreement as well as all other obligations of undetermined and/or contingent value accrued thereunderSecured Parties may reasonably request. (c) The Pledge shall This Agreement constitutes a security agreement under Article 9 of the Uniform Commercial Code as in effect in the State of New York, as the same may be perfected on amended from time to time (the date of this Agreement"UCC"), by: (i) providing notice thereof with respect to the President of the Board of the Company on the terms contemplated in Exhibit II hereto; (ii) the annotation in the Stock Registry Book of the Company of the Pledge on the Pledged Stock; and (iii) delivery of the Certificates by the Pledgor to LoJack, with a legend, on the reverse of each Certificate, stating that the Pledged Stock is pledged and encumbered pursuant to the terms of this AgreementCollateral.