The Pledge and Security Interest Sample Clauses
The Pledge and Security Interest clause establishes the lender's right to take a security interest in specific assets of the borrower as collateral for a loan or obligation. In practice, this means the borrower grants the lender a legal claim over certain property, such as equipment, inventory, or accounts receivable, which can be seized or sold if the borrower defaults. This clause is essential for protecting the lender's interests by providing a clear mechanism for recovering losses in the event of non-payment or breach of contract.
The Pledge and Security Interest. (a) In order to secure the full and punctual payment of all amounts payable pursuant to, and the full and punctual performance of all other obligations of the Grantor under, the Notes and this Agreement (including without limitation any obligation which accrues or arises after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of the Grantor) (the "Secured Obligations"), in accordance with the terms thereof, effective at the Merger Time the Grantor hereby assigns and pledges to the Secured Parties, and hereby grants to the Secured Parties a security interest (the "Security Interest") in, all of the Grantor's right, title and interest in and to the following (the "Collateral"):
(i) 500 shares of common stock of the Subsidiary and all of the Grantor's rights and privileges with respect to such stock (the "Pledged Stock"), which shares represent fifty percent (50%) of the issued and outstanding capital stock of the Subsidiary; and
(ii) all direct and indirect proceeds (as defined in the Uniform Commercial Code as in effect in New York State (the "UCC")) of the Pledged Stock, and also all dividends and other payments and distributions with respect thereto, all other profits, rentals and receipts with respect thereto, and all payments, rights and property, in whatever form, arising from the disposition in whole or in part of the Pledged Stock or any option or other interest therein, except to the extent such amount are properly paid to the Acquiror pursuant to Section 5(a) hereof (the "Proceeds").
(b) The Collateral is granted as security only, and the Secured Parties shall not have any obligation or liability with respect to the Collateral by reason of this Agreement, nor shall any Secured Party be obligated to perform any of the obligations or duties of the Grantor related to any of the Collateral.
The Pledge and Security Interest. The Pledgor hereby grants to the Secured Party a interest in and to any and all present or future rights of the Pledgor in and to all of the following rights, interests, and property (all of the following being herein sometimes called the "Collateral"):
(a) all the issued and outstanding shares of the capital stock of Westronix Limited registered in the name of the Pledgor (b) any and all substitutes, replacements, accessions, attachments, increases, profits, revisions, additions thereto, or dividends and coupons thereon and (c) any and all proceeds arising from or by virtue of the sale or other disposition of, or from the collection of, the Collateral described in (a) and (b) preceding.
The Pledge and Security Interest. The Debtor hereby grants to the Secured Party security interests in and to any and all present or future rights of the Debtor in and to all of the following rights, interests, and property (all of the following being herein sometimes called the "Collateral"):
(a) Nine Hundred Fifty (950) shares of the common stock, no par value per share, of AmBrew USA, Inc. represented by Certificate No. 2 registered in the name of Debtor; (b) Nine Hundred Ninety Nine (999) shares of the capital stock of Cerveceria Rio Bravo, S.A. de C.V. represented by Certificate No. 1 registered in the name of Debtor; (c) the sixty percent (60%) percentage interest of Debtor in Celtic Brew LLC (as evidenced by certified copies of (i) the Articles of Organization of Celtic Brew LLC, and (ii) the Operating Agreement of Celtic Brew LLC, such certified copies to be delivered to Secured Party on or prior to the date hereof), and (d) Four Thousand Seven Hundred and Forty Nine (4,749) shares of South China Brewing Company Limited represented by Certificate No. 17 registered in the name of Debtor and any and all substitutes, replacements, accessions, attachments, increase, profits, revisions, or additions thereto; and (e) any and all proceeds arising from or by virtue of the sale or other disposition of, or from the collection of, the Collateral described in (a), (b), (c), and (d) preceding.
The Pledge and Security Interest. As collateral security for the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Secured Obligations, Pledgor hereby pledges, grants, assigns, transfers, conveys and sets over to the Lender a security interest in all of Pledgor's right, title and interest in the property described in paragraph 1 of Schedule A hereto, whether now owned by Pledgor or hereafter acquired and whether now existing or hereafter coming into existence (all being collectively referred to herein as "Collateral"). Schedule A attached hereto is an integral part of this Pledge Agreement and contains both a description of and certain representations regarding the Collateral. Pledgor Covenants and agrees with Lender that Pledgor will not, directly or indirectly, without prior written consent of the Lender, transfer, issue or sell any stock of the Pledgor, or any Subsidiary, or enter into any agreement which may result in the transfer, issuance or sale of any stock of Pledgor, or of its Subsidiaries, whether common or preferred.
The Pledge and Security Interest. As collateral security for the prompt payment and performance in full when due (whether at stated maturity, by acceleration or otherwise) of the Secured Obligations, Pledgor hereby pledges, grants, assigns, transfers, conveys and sets over to the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in all of Pledgor’s right, title and interest in the property described in Schedule A attached hereto and made a part hereof, wherever located, whether now owned by Pledgor or hereafter acquired and whether now existing or hereafter coming into existence and all proceeds thereof (such property being collectively referred to herein as “Collateral”).
The Pledge and Security Interest. The Debtor hereby grants to the Secured Party security interests in and to any and all present or future rights of the Debtor in and to all of the following rights, interests, and property (all of the following being herein sometimes called the "Collateral"): (a) 600,000 shares of the common stock, $.01 par value per share, of InnoPet Brands Corp. represented by Certificate(s) No. _____ registered in the name of Debtor (the "Stock Certificate"), and any and all substitutes, replacements, accessions, attachments, increase, profits, revisions, or additions thereto; and (b) any and all proceeds arising from or by virtue of the sale or other disposition of, or from the collection of, the Collateral described in (a) preceding.
The Pledge and Security Interest. Debtor hereby grants to Secured Party a security interest in, and so pledges and assigns to the Secured Party, the following properties, assets and rights of the Debtor, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof (collectively, the “Collateral”): all furniture, fixtures, equipment, contract rights, accounts (as that term is defined in Revised Article 9 of the Uniform Commercial Code), documents, instruments, intangibles and all other tangible and intangible assets of Debtor, if any.
The Pledge and Security Interest. The Pledgor hereby grants to the Secured Party a security interest in and to any and all present or future rights of the Pledgor in and to all of the following rights, interests, and property (all of the following being herein sometimes called the "Collateral"):
(a) 100,000 shares of the common stock of New Regal registered in the name of the Pledgor represented by Stock Certificate No. 001, (b) any and all substitutes, replacements, accessions, attachments, increases, profits, revisions, additions thereto, or dividends and coupons thereon; and (c) any and all proceeds arising from or by virtue of the sale or other disposition of, or from the collection of, the Collateral described in (a) and (b) preceding.
The Pledge and Security Interest. 1.1 In order to secure the prompt and unconditional payment and performance of the Secured Obligations (as herein defined), each of the Debtor and the Subsidiary hereby:
(a) grants to the Secured Party a lien and a security interest in, and mortgages, assigns, transfers, delivers, pledges, sets over and confirms to the Secured Party all of the Debtor's and the Subsidiary's right, title, interest (including all power of the Debtor and the Subsidiary, if any, to pass greater title than it has itself), remedies, powers and privileges, of every kind and character now owned or hereafter acquired, created or arising in and to the following (all of the property referred to in this Section 1.1(a), in Section 1.1(b) and in Section 1.1(c) is hereinafter collectively called the "Collateral"):
(i) all shares of capital stock or other equivalents of the Subsidiary, as set forth on Exhibit A hereto, and any shares of capital stock or other equity interest of the Subsidiary obtained in the future by the Debtor and the certificates representing all such shares or equity interest ("Subsidiary Shares");
(ii) all shares of capital stock or other equivalents of Canadian Rainforest Restaurants, Inc., a Canadian federal corporation ("Rain Forest") (a joint venture between the Debtor and Rainforest Cafe Canada Holdings, Inc., a federal corporation organized under the Canada Business Corporations Act ("RCCH") held by the Debtor as set forth in Exhibit A hereto, and any shares of capital stock or other equity interest of Rain Forest obtained in the future by the Debtor and the certificates representing all such shares or equity interest ("Rain Forest Shares");
(iii) all other debt or equity interests of the Debtor in the Subsidiary and in Rain Forest, presently owned or from time to time acquired by the Debtor in any manner, and all dividends, distributions, interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all such debt or equity interests referred to in clauses (i) and (ii) above;
(iv) all equipment now owned or hereafter acquired either by the Debtor or by the Subsidiary, in all of its forms, located in Canada on all properties owned or leased by the Debtor or the Subsidiary, a list of properties currently owned or leased by the Debtor or the Subsidiary is attached hereto as Exhibit B, including, without limitation, all machinery and other goods, furniture, fixtures, furnishings...
The Pledge and Security Interest. The Debtor hereby grants to the Secured Party a security interest in and to the aforesaid Partnership Interest (herein sometimes called the "Collateral").