Common use of Pledge of Stock Etc Clause in Contracts

Pledge of Stock Etc. The Pledgor hereby pledges, assigns, grants a security interest in, and delivers to the Pledgee, to secure the Obligations, all of the Pledgor's right, title and interest in and to 471,698 shares of Common Stock held by the Pledgor (the "Pledged Shares"), to be held by the Pledgee subject to the terms and conditions ------- ------ hereinafter set forth. The certificate(s) for the Pledged Shares, accompanied by a stock power or other appropriate instrument of assignment thereof duly executed in blank by the Pledgor, are being delivered to the Pledgee contemporaneously herewith. Notwithstanding anything to the contrary set forth herein, if for any reason the Pledgee fails or refuses to make the Post-Closing Loan to the Pledgor on or before April 15, 1999, the Pledgee will immediately thereafter return to the Pledgor forty percent (40%) of the Pledged Shares (the "Returned Pledged Shares"), provided, however, that if the Pledgee subsequently -------- ------- ------ -------- makes the Post-Closing Loan to the Pledgor, the Pledgor will contemporaneously therewith re-pledge the Returned Pledged Shares to the Pledgee to secure the Post-Closing Loan.

Pledge of Stock Etc. The Pledgor hereby pledges, assigns, grants a --------------------- security interest in, and delivers to the Pledgee, to secure the Obligations, all of the Pledgor's right, title and interest in and to 471,698 shares of Common Stock held by the Pledgor (the "Pledged Shares"), to be held by the ------- ------ Pledgee subject to the terms and conditions ------- ------ hereinafter set forth. The certificate(s) for the Pledged Shares, accompanied by a stock power or other appropriate instrument of assignment thereof duly executed in blank by the Pledgor, are being delivered to the Pledgee contemporaneously herewith. Notwithstanding anything to the contrary set forth herein, if for any reason the Pledgee fails or refuses to make the Post-Closing Loan to the Pledgor on or before April 15, 1999, the Pledgee will immediately thereafter return to the Pledgor forty percent (40%) of the Pledged Shares (the "Returned Pledged -------- ------- Shares"), ; provided, however, that if the Pledgee subsequently -------- ------- makes the ------ -------- makes the Post-Closing Loan to the PledgorPledgee, then the Pledgor will contemporaneously therewith re-pledge the Returned Pledged Shares to the Pledgee to secure the Post-Closing Loan.