Pledge Requirement Clause Samples

Pledge Requirement. (a) Promptly notify the Administrative Agent of the occurrence of a Security Trigger Event and (i) within 30 days of the occurrence of such Security Trigger Event (or such later date as agreed to in writing by the Administrative Agent) execute and deliver the Pledge Agreement and take such action as reasonably necessary to cause all of the issued and outstanding Equity Interests of each Subsidiary of the Borrower that is the Direct Owner or an Indirect Owner of an Unencumbered Eligible Property (collectively, the “Collateral”), to be subject to a perfected Lien in favor of the Administrative Agent to secure the Obligations and (ii) at any time thereafter during the Covenant Waiver Period, within 30 days after the formation or acquisition of any Subsidiary of the Borrower (including any acquisition pursuant to a Division) that is the Direct Owner or an Indirect Owner of an Unencumbered Eligible Property, cause all of the issued and outstanding Equity Interests of such Subsidiary of the Borrower to be subject to a perfected Lien in favor of the Administrative Agent, in each case in accordance with the terms and conditions of the Intercreditor Agreement and the Pledge Agreement. (b) In connection with each pledge of Collateral, provide the following: (i) such other agreements, instruments and other documents as reasonably requested by the Administrative Agent in connection therewith, including with respect to the organization, existence and good standing of each pledgor of Collateral, and the authorization of the transactions and documents relating to such pledge, all in form and substance satisfactory to the Administrative Agent; and (ii) favorable written legal opinions of counsel for the pledgors of Collateral, covering matters customarily addressed in connection with the grant of a pledge of Equity Interests and relating to the documents relating to such pledge as the Administrative Agent shall reasonably request, including favorable customary written opinions from local counsel to such pledgors in the jurisdiction in which any Uniform Commercial Code financing statements are to be filed, confirming the creation and perfection of the liens on and security interests in the Collateral, in form and substance reasonably satisfactory to the Administrative Agent.
View SourceView Similar (2)
Pledge Requirement. If the Company or any Subsidiary receives any cash amount as an escrow, deposit of earnest money or as apart of any ▇▇▇▇▇ar or analogous arrangement from the Proposed Purchaser (as defined in the Amended Credit Agreement) or any Affiliate thereof in connection with the Southeastern Assets Sale (as defined in the Amended Credit Agreement), the Company shall (or shall cause the applicable Subsidiary to) deposit such amount with the Agent in pledge, as cash collateral for the Loans and other obligations of the Company under the Amended Credit Agreement and the other Loan Documents pursuant to arrangements in form and substance satisfactory to the Agent (it being understood that any such amount may be refundable by the Company or the applicable Subsidiary to the Proposed Purchaser).
View Source
Pledge Requirement. Prior to the Closing Date, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, the CEO and President of the Company, shall execute a Pledge Agreement pursuant to which ▇▇▇▇▇▇▇ shall pledge to Atlantic Professional Association, Inc., as agent for the Purchasers a first lien and security interest in such number of shares of the Company’s stock owned by him that equates to 200% of the aggregate principal balance of the Notes issued hereunder at each Closing which pledge shall remain in effect until complete repayment of the Notes. The valuation of such shares shall be based upon the volume weighted average price (“VWAP”) of the Company’s common stock for the ten (10) trading days prior to the Closing.
View Source
Pledge Requirement. (a) Promptly notify the Administrative Agent of the occurrence of a Security Trigger Event and (i) within 30 days of the occurrence of such Security Trigger Event (or such later date as agreed to in writing by the Administrative Agent) execute and deliver the Pledge Agreement and take such action as reasonably necessary to cause all of the (b) In connection with each pledge of Collateral, provide the following: (i) such other agreements, instruments and other documents as reasonably requested by the Administrative Agent in connection therewith, including with respect to the organization, existence and good standing of each pledgor of Collateral, and the authorization of the transactions and documents relating to such pledge, all in form and substance satisfactory to the Administrative Agent; and (ii) favorable written legal opinions of counsel for the pledgors of Collateral, covering matters customarily addressed in connection with the grant of a pledge of Equity Interests and relating to the documents relating to such pledge as the Administrative Agent shall reasonably request, including favorable customary written opinions from local counsel to such pledgors in the jurisdiction in which any Uniform Commercial Code financing statements are to be filed, confirming the creation and perfection of the liens on and security interests in the Collateral, in form and substance reasonably satisfactory to the Administrative Agent.
View Source
Pledge Requirement. Brookdale acknowledges that, at the time of the TEB Pool Refunding, Brookdale or any transferee, as the case may be, shall be required to cause a pledge of the ownership interests in Brookdale or such transferee, as applicable, to Capstead to secure its obligations under this Agreement (the "Brookdale Pledge").
View Source
Pledge Requirement. Commencing on the Amendment Effective Date and until the Collateral Release Date, the Borrower will cause all of the Pledge Collateral to be subject to a first priority, perfected Lien (subject to Permitted Encumbrances) in favor of the Collateral Agent on behalf of the lenders under the Credit Facilities to secure the Obligations in accordance with the terms and conditions of the Intercreditor Agreement and the Collateral Documents.
View Source

Related to Pledge Requirement

  • W-9 Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a properly completed Internal Revenue Service (“IRS”) Form W-9. The purpose of the W-9 form is to document the SS# or FEIN# per the IRS. Note: W-9s submitted for any other entity name other than the Grantee’s will not be accepted.

  • CONTRACT COMPLIANCE REQUIREMENT The HUB requirement on this Contract is 0%. The student engagement requirement of this Contract is 0 hours. The Career Education requirement for this Contract is 0 hours. Failure to achieve these requirements may result in the application of some or all of the sanctions set forth in Administrative Policy 3.10, which is hereby incorporated by reference.

  • Coverage Requirements (08/19) Contractor shall comply with the following insurance requirements:

  • Compliance Requirements A. Nondiscrimination. The Contractor agrees to comply, and to require its subcontractor(s) to comply, with the nondiscrimination provisions of MCL 37.2209. The Contractor further agrees to comply with the provisions of Section 9:158 of Chapter 112 of the ▇▇▇ Arbor City Code and to assure that applicants are employed and that employees are treated during employment in a manner which provides equal employment opportunity.

  • Compliance with Timing Requirements of Regulations In the event the Partnership is "liquidated" within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), distributions shall be made pursuant to this Article 13 to the General Partner and Limited Partners who have positive Capital Accounts in compliance with Regulations Section 1.704-1(b)(2)(ii)(b)(2). If any Partner has a deficit balance in his or her Capital Account (after giving effect to all contributions, distributions and allocations for the taxable years, including the year during which such liquidation occurs), such Partner shall have no obligation to make any contribution to the capital of the Partnership with respect to such deficit, and such deficit shall not be considered a debt owed to the Partnership or to any other Person for any purpose whatsoever, except to the extent otherwise agreed to by such Partner and the General Partner. In the discretion of the Liquidator or the General Partner, a pro rata portion of the distributions that would otherwise be made to the General Partner and Limited Partners pursuant to this Article 13 may be: A. distributed to a trust established for the benefit of the General Partner and Limited Partners for the purposes of liquidating Partnership assets, collecting amounts owed to the Partnership, and paying any contingent or unforeseen liabilities or obligations of the Partnership or of the General Partner arising out of or in connection with the Partnership. The assets of any such trust shall be distributed to the General Partner and Limited Partners from time to time, in the reasonable discretion of the Liquidator or the General Partner, in the same proportions and the amount distributed to such trust by the Partnership would otherwise have been distributed to the General Partner and Limited Partners pursuant to this Agreement; or B. withheld to establish any reserves deemed necessary or appropriate for any contingent or unforeseen liabilities or obligations of the Partnership; and to reflect the unrealized portion of any installment obligations owed to the Partnership; provided that, such withheld amounts shall be distributed to the General Partner and Limited Partners as soon as practicable.