PLEDGE
OF SHARES OF STOCK
This Pledge of Share
of Stock (the “Agreement”) is made and effective [s-EffDate]
between:
[s-Company]
(“Pledgor”), whose location is:
[s-Address]
And
[s-PledgeeName]
(“Pledgee”), whose location is:
[s-PledgeeAddress]
FOR VALUE RECEIVED,
the undersigned hereby deposits and pledges with Pledgee as
collateral security to secure the payment of:
[s-DebtDescription]
The shares of stock,
described as [s-DescNumber] shares of stock of [s-CorporationName]
being stock certificate no. [s-CertNumber].
It is further
agreed:
1. Pledgee may
assign or transfer said debt and the stock collateral pledged
hereunder.
2. In the event
there shall be stock dividend or further issue of stock in the
Corporation to the undersigned, the undersigned shall pledge said
shares as additional collateral for the debt.
3. That during the
pendency of this pledge agreement, the undersigned shall have full
rights to vote said shares and be entitled to all dividend income.
4. That during the
pendency of this agreement, the undersigned shall not issue any proxy
or assignment of rights to the pledged shares.
5. The undersigned
warrants and represents it has good title to the shares being
pledged, they are free from other liens and encumbrances, and the
undersigned has full authority to transfer said shares as collateral
security.
6. In the event of
default of payment of the debt, or breach of this pledge agreement,
the Pledgee or holder shall have full rights to foreclose on the
pledged shares and exercise its rights as a secured party pursuant to
Article of [identify code / law applicable]; said rights being
cumulative with any other rights the Pledgee may have against the
undersigned.
PLEDGOR PLEDGEE
______________________________ _______________________________
Authorized
Signature Authorized Signature
______________________________ _______________________________
Print Name and
Title Print Name and Title
______________________________ _______________________________
Date Date
