Common use of Pledging of Shares Clause in Contracts

Pledging of Shares. The Shareholders may pledge any portion of their Shares ("Pledged Shares") to secure the loans ("Loans") and such Pledged Shares shall not be subject to the restrictions contained herein provided that any such Shareholder delivers to the Voting Trustee a duly executed Shareholder Proxy with respect to such Shares. Upon the repayment of such Loans and the cancellation of such pledge, the Pledged Shares shall again be subject to the terms of this Agreement and the restrictions contained herein. In connection with the pledging of Shares, the owners of the Voting Trust Certificates shall surrender their Voting Trust Certificates to the Voting Trustee or, upon the Voting Trustee's death or disability, the Secretary of the Company, who shall deliver to the Company the certificates representing the Pledged Shares, and the Secretary of the Company shall issue or cause to be issued certificates representing the Pledged Shares to the appropriate respective owners of the Voting Trust Certificates to be delivered to such owners upon surrender of their respective Voting Trust Certificates. Upon repayment of the Loans and the cancellation of such pledge and the return of the Pledged Shares to the Shareholder, such Shareholder shall immediately deliver the Pledged Shares to the Voting Trustee in accordance with Section 1 of this Agreement. The Voting Trustee or upon the Voting Trustee's death or disability, the Secretary shall have the power to take or cause to be taken such further and other action as he may deem necessary or desirable to conclude promptly the duties imposed upon him in this Section; provided however, he shall have no authority to exercise any voting rights of the Shares.

Pledging of Shares. The Any of the Shareholders may pledge -------------------- any portion of their respective Shares (the "Pledged Shares") to secure the loans ("Loans") and such Pledged Shares shall not be subject to the restrictions contained herein in this Agreement, provided that any such Shareholder executes and delivers to the Voting Trustee a duly executed Shareholder Proxy with respect to such SharesProxy. Upon the repayment of such Loans and the cancellation of such pledge, the Pledged Shares shall again be subject to the terms of this Agreement and the restrictions contained hereinin this Agreement and the Shareholder Proxy shall be terminated. In connection with the pledging of Shares, the owners of the Voting Trust Certificates shall surrender their Voting Trust Certificates to the Voting Trustee or, or upon the Voting Trustee's death or disability, the Secretary of the Company, who shall deliver to the Company the certificates representing the Pledged Shares, and the Secretary of the Company shall issue or cause to be issued certificates representing the Pledged Shares to the appropriate respective owners of the Voting Trust Certificates to be delivered to such owners upon surrender of 'their respective Voting Trust Certificates. Upon repayment of the Loans and the cancellation of such pledge and the return of the Pledged Shares to the Shareholder, such Shareholder shall immediately deliver the Pledged Shares to the Voting Trustee in accordance with Section 1 of this Agreement. The Voting Trustee or upon the Voting Trustee's death or disability, the Secretary shall have the power to take or cause to be taken such further and other action as he may deem necessary or desirable to conclude promptly the duties imposed upon him in this Section; provided however, he shall have no authority to exercise any voting rights of the Shares.