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Promissory notes are defined as securities under the Securities Act. However, notes that have a maturity of nine months or less are not considered securities.
Pledge. v. to deposit personal property as security for a personal loan of money. If the loan is not repaid when due, the personal property pledged shall be forfeit to the lender. The property is known as collateral. To pledge is the same as to pawn.
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 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.
A pledge of shares agreement or Pledge And Security Agreement is an agreement between a lender and a borrower where the borrower agrees to contribute their membership interest in the borrowing entity, such as an LLC to the lender in the event of default.
Pledged Notes means all right, title and interest of each Borrower in the Instruments evidencing all Indebtedness owed to such Borrower, issued by the obligors named therein, and all interest, cash, Instruments and other property or Proceeds from time to time received, receivable or otherwise distributed in respect of ...
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.
An agreement typically used to create a security interest in equity interests (including capital stock, LLC interests, and partnership interests) and promissory notes.