PURPOSE OF THE PLEDGE Sample Clauses

PURPOSE OF THE PLEDGE. The Pledge hereunder is constituted in order to secure the prompt and complete satisfaction of any and all Obligations. The Pledge shall also cover any future extension of the Obligations and the Pledgor herewith expressly agrees that the provisions of Section 1210 para 1 sentence 2 of the German Civil Code (Bürgerliches Gesetzbuch) shall not apply to this Agreement.
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PURPOSE OF THE PLEDGE. The Share Pledge shall serve as continuing security for the payment and discharge of the Secured Obligations.
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PURPOSE OF THE PLEDGE. The Pledge shall serve as collateral for all present and future, actual or contingent obligations of the Pledgor towards the Pledgee(s) [pursuant to Clause 8.2 (Indemnification by the Borrowers) of the Facilities Agreement in respect of Bank Guarantees (as defined in the Facilities Agreement)]1/[ pursuant to Clause 8.2 (Indemnification by the Borrowers) of the Facilities Agreement in respect of Bank Guarantees (as defined in the Facilities Agreement and Clause 30.17 (Parallel debt) of the Facilities Agreement in respect of the Parallel Obligations (as defined in the Facilities Agreement)]2 (the "Secured Obligations").
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PURPOSE OF THE PLEDGE. The Pledge shall serve as security for the due and punctual satisfaction of the Secured Obligations.
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PURPOSE OF THE PLEDGE. 2.1 The pledge hereunder is constituted in order to secure to the Grantees, by virtue of a pledge over the Grantor's Quotas in the Company, the prompt payment by the Grantor when due of all Secured Obligations, with due regard for the terms and conditions thereof, provided that neither the security constituted by this Agreement nor any other provisions of this Agreement shall extend to or include any liability or sum which would, but for this proviso, cause such security, or provision to be unlawful or prohibited by any applicable law (including, for the avoidance of doubt, Section 151 of the UK Companies Act 1985). 2.2 For the purposes of Section 1,424 of the Brazilian Civil Code, Secured Obligations as defined in Section 1.1 shall include, without limitation, all the payment obligations of the Grantor to any Secured Creditor under the Relevant Documents, including but not limited to the following: (a) Payment obligations under the Senior Notes, where (i) the total principal amount is of up to US$717,139,584 (seven hundred and seventeen million, one hundred and thirty nine thousand, five hundred and eighty four Dollars of the United States), equivalent, for registration purposes only, on the date hereof to approximately R$2,054,820,050 (two billion, fifty four million, eight hundred and twenty thousand, and fifty Brazilian Reais); (ii) interest rate is of 8% per annum, including a default rate of 10% per annum; and (iii) the final maturity date is 30 April, 2008; (b) Payment obligations under the Junior Notes, where (i) the total principal amount is of up to US$486,881,472 (four hundred and eighty six million, eight hundred and eighty one thousand, four hundred and seventy two Dollars of the United States), equivalent, for registration purposes only, on the date hereof to approximately R$1,395,061,482 (one billion, three hundred and ninety five million, sixty one thousand, four hundred and eighty two Brazilian Reais); (ii) interest rate is of (x) 10 % per annum if the interest payment is made in cash or (y) 12% per annum if the interest payment is made otherwise, including a default rate of 12% per annum; and (iii) the final maturity date is 31 October, 2008; and (c) Payment obligations under the New Bonding Facility Agreement, where (i) the total principal amount is of up to L50,000,000 (fifty million Sterling), equivalent, for registration purposes only, on the date hereof to approximatELY R$230,987,500 (two hundred and thirty million, nine hundred and ...
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PURPOSE OF THE PLEDGE. The Pledge hereunder is constituted in order to secure the prompt and complete satisfaction of all Secured Obligations. The Pledge shall also cover any future extension of the Secured Obligations.
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Related to PURPOSE OF THE PLEDGE

  • Purpose of the Plan The Plan is intended to increase incentives and to encourage Share ownership on the part of (1) employees of the Company and its Affiliates, (2) consultants who provide significant services to the Company and its Affiliates, and (3) directors of the Company who are employees of neither the Company nor any Affiliate. The Plan also is intended to further the growth and profitability of the Company. The Plan is intended to permit the grant of Awards that qualify as performance-based compensation under section 162(m) of the Code.

  • Purpose of the Loan The purpose of the Loan is to provide financing for the Borrower’s activities and investments.

  • Purpose of DPA The purpose of this DPA is to describe the duties and responsibilities to protect Student Data including compliance with all applicable federal, state, and local privacy laws, rules, and regulations, all as may be amended from time to time. In performing these services, the Provider shall be considered a School Official with a legitimate educational interest, and performing services otherwise provided by the LEA. Provider shall be under the direct control and supervision of the LEA, with respect to its use of Student Data

  • Purpose of the Grant I.1.1 The Commission has decided to award a grant, under the terms and conditions set out in the Special Conditions, the General Conditions and the Annexes to the agreement, which the beneficiary hereby declares that he has taken note of and accepts, for the action entitled […] ("the action"). I.1.2 The beneficiary accepts the grant and undertakes to do everything in his power to carry out the action as described in Annex I, acting on his own responsibility.

  • PURPOSE OF THE TRUST The purpose of the Trust shall be to (a) manage, conduct, operate and carry on the business of an investment company; (b) subscribe for, invest in, reinvest in, purchase or otherwise acquire, hold, pledge, sell, assign, transfer, exchange, distribute or otherwise deal in or dispose of any and all sorts of property, tangible or intangible, including but not limited to Securities of any type whatsoever, whether equity or nonequity, of any issuer, evidences of indebtedness of any person and any other rights, interest, instruments or property of any sort to exercise any and all rights, powers and privileges of ownership or interest in respect of any and all such investment of every kind and description, including without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more Persons to exercise any of said rights, powers and privileges in respect of any of said investments. The Trustees shall not be limited by any law limiting the investments which may be made by fiduciaries.