Void image in the Pledge Agreement

Aug 6th, 2022
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An agreement typically used to create a security interest in equity interests (including capital stock, LLC interests, and partnership interests) and promissory notes.
2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement.
A cession pledge of goods agreement/ pledge agreement is a legal document used to create mandatory provisions for a security interest in collateral (such as goods, partnership interests, stock powers, capital stock or investment property) as a form of collateral for a loan.
The grantors are usually the borrower, its parent and its subsidiaries. The grantors typically enter into the pledge agreement with a collateral agent, which is acting on behalf of lenders under a syndicated loan agreement. This form can also be used for one lender.
A pledge is a bailment that conveys possessory title to property owned by a debtor (the pledgor) to a creditor (the pledgee) to secure repayment for some debt or obligation and to the mutual benefit of both parties. The term is also used to denote the property which constitutes the security.
A type of security interest in which a lender takes possession of personal property as security for an obligation. The personal property involved is also called a pledge. Initially, the lenders possessory interest is subject to the rules of a bailment or other type of deposit.
The double-pledge situation is possible when the value of the collateral is great enough to cover two separate payment obliga- tions.
A double negative pledge is a promise not to enter into negative covenants with any third party. In other words, it is a negative covenant that prohibits other negative covenants.

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