Issuance of New Certificate to Pledgee Clause Samples
The 'Issuance of New Certificate to Pledgee' clause establishes the right or obligation for a new certificate—typically representing shares or ownership interests—to be issued directly to a pledgee, who is usually a secured party in a transaction. In practice, this means that if the original certificate is lost, destroyed, or needs to be reissued due to the enforcement of a security interest, the company or issuer must provide a replacement certificate in the name of the pledgee. This clause ensures that the pledgee can effectively exercise their rights over the pledged asset, providing security and clarity in the event of default or other triggering circumstances.
Issuance of New Certificate to Pledgee. In the event certificates have been issued, a pledgee of shares transferred as collateral security shall be entitled to a new certificate if the instrument of transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of the pledgor shall be stated thereon, who alone shall be liable as a shareholder, and entitled to vote thereon.
Issuance of New Certificate to Pledgee. The Trustees may in their discretion, or the Treasurer may pursuant to authority delegated by the Trustees, institute a policy of enabling a pledgee of shares transferred as collateral security to obtain a new certificate if the instrument of transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of the pledgor shall be stated thereon, who alone shall be liable as a shareholder, and entitled to vote thereon.
Issuance of New Certificate to Pledgee. A pledgee of Shares of any Fund as to which the Trust issues certificates shall be entitled to a new certificate if the instrument or transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of the pledgor shall be stated thereon, who alone shall have the rights (including, without limitation, dividend and distribution rights and voting rights) of the Shareholder. A pledgee of Shares of any Fund as to which the Trust does not issue certificates shall be entitled to have the pledge registered on the books of the Trust pertaining to that Fund.
Issuance of New Certificate to Pledgee. A pledgee of shares transferred as -------- -- --- ----------- -- ------- collateral security shall be entitled to a new certificate if the instrument of transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of the pledgor shall be stated thereon, who alone shall be liable as a shareholder, and entitled to vote thereon.