PLEDGED INTERESTS ADDENDUM Clause Samples
The Pledged Interests Addendum is a contractual provision that outlines the terms under which a party's ownership interests in a company or entity are pledged as collateral for a loan or obligation. This addendum typically details the specific interests being pledged, the conditions under which the pledge is enforced, and the rights of the secured party in the event of default, such as the ability to take control of the pledged interests. Its core function is to provide additional security to the lender or obligee by granting them a claim over the pledgor's ownership interests, thereby reducing the lender's risk and clarifying the remedies available if the borrower fails to meet their obligations.
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PLEDGED INTERESTS ADDENDUM. This Pledged Interests Addendum, dated as of _____, 20 _____ (this “Pledged Interests Addendum”), is delivered pursuant to Section 6 of the Security Agreement referred to below. The undersigned hereby agrees that this Pledged Interests Addendum may be attached to that certain Security Agreement (Domestic), dated as of July 26, 2011, (as amended, restated, supplemented, or otherwise modified from time to time, the “Security Agreement”), made by the undersigned, together with the other Grantors named therein, to ▇▇▇▇▇ FARGO CAPITAL FINANCE, INC., a California corporation, as Agent. Initially capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Security Agreement or, if not defined therein, in the Credit Agreement. The undersigned hereby agrees that the additional interests listed on Schedule I shall be and become part of the Pledged Interests pledged by the undersigned to Agent in the Security Agreement and any pledged company set forth on Schedule I shall be and become a “Pledged Company” under the Security Agreement, each with the same force and effect as if originally named therein. This Pledged interests Addendum is a Loan Document. Delivery of an executed counterpart of this Pledged Interests Addendum by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Pledged Interests Addendum. If the undersigned delivers an executed counterpart of this Pledged Interests Addendum by telefacsimile or other electronic method of transmission, the undersigned shall also deliver an original executed counterpart of this Pledged Interests Addendum but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Pledged Interests Addendum. The undersigned hereby certifies that the representations and warranties set forth in Section 5 of the Security Agreement of the undersigned are true and correct as to the Pledged Interests listed herein on and as of the date hereof. THE VALIDITY OF THIS PLEDGED INTERESTS ADDENDUM, THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF, AND THE RIGHTS OF THE PARTIES HERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR RELATED HERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA. THE PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN CONNECTION WITH THIS PLEDGED I...
PLEDGED INTERESTS ADDENDUM. This Pledged Interests Addendum, dated as of , 20 , is delivered pursuant to Section 5(b) of the Parent Pledge Agreement referred to below. The undersigned hereby agrees that this Pledged Interests Addendum may be attached to that certain Parent Pledge Agreement, dated as of December , 2004 (as amended, restated, supplemented or otherwise modified from time to time, the “Parent Pledge Agreement”), made by the undersigned to The Bank of New York, as Agent. Initially capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Parent Pledge Agreement and/or the Indenture. The undersigned hereby agrees that the additional interests listed on this Pledged Interests Addendum as set forth below shall be and become part of the Pledged Interests pledged by the undersigned to Agent in the Parent Pledge Agreement and any pledged company set forth on this Pledged Interests Addendum as set forth below shall be and become a “Pledged Company” under the Parent Pledge Agreement, each with the same force and effect as if originally named therein.
PLEDGED INTERESTS ADDENDUM. This Pledged Interests Addendum, dated as of _________ ___, 20___, is delivered pursuant to Section 6 of the Security Agreement referred to below. The undersigned hereby agrees that this Pledged Interests Addendum may be attached to that certain Security Agreement, dated as of February 1, 2008 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”), made by the undersigned to Private Equity Management Group, Inc., as Agent. Initially capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Security Agreement and/or the Credit Agreement. The undersigned hereby agrees that the additional interests listed on this Pledged Interests Addendum as set forth below shall be and become part of the Pledged Interests pledged by the undersigned to the Agent in the Security Agreement and any pledged company set forth on this Pledged Interests Addendum as set forth below shall be and become a "Pledged Company" under the Security Agreement, each with the same force and effect as if originally named therein. The undersigned hereby certifies that the representations and warranties set forth in Section 5 of the Security Agreement of the undersigned are true and correct as to the Pledged Interests listed herein on and as of the date hereof. BAKERS FOOTWEAR GROUP, INC. By: ____________________________ Title: ___________________________ Bakers Footwear Group, Inc., a Missouri corporation ("Grantor"), for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, grants to Private Equity Management Group, Inc., a Nevada corporation, as agent for and representative of (in such capacity herein called "Secured Party") the financial institutions ("Lenders") party to that certain Second Lien Credit Agreement, entered into by and among the Grantor, Agent, and Lenders, dated as of February 1, 2008 ( the "Credit Agreement"), a continuing security interest in the following property:
PLEDGED INTERESTS ADDENDUM. A pledged interests addendum duly executed by Agent and AerSale Aviation shall have been delivered to Agent.
PLEDGED INTERESTS ADDENDUM. [signature page follows]