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Oklahoma Promissory Note and Pledge Agreement regarding loan and grant of security interest in shares of the company's common stock

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Promissory Note and Pledge Agreement between iPrint.Inc. and James P. McCormick regarding loan and grant to company a security interest in shares of the company's common stock dated October 13, 1999. 3 pages.

A Promissory Note and Pledge Agreement is a legal document frequently utilized in Oklahoma for loans and grants involving security interests in a company's common stock. This agreement establishes the terms and conditions of the loan, the pledged securities, and the rights and obligations of the parties involved. Here is a detailed description of what an Oklahoma Promissory Note and Pledge Agreement entails: 1. Promissory Note: A Promissory Note is a written promise by the borrower to repay a specific amount of money borrowed from the lender. It outlines the terms of the loan, including the principal amount, the interest rate, repayment schedule, and any applicable fees or penalties. The borrower's commitment to repay the loan is legally binding under this agreement. 2. Pledge Agreement: A Pledge Agreement refers to the collateral provided by the borrower to secure the loan. In this case, the borrower pledges a specified number of shares of the company's common stock as collateral to the lender. By entering into this agreement, the borrower grants a security interest in the pledged securities to the lender, which serves as protection for the repayment of the loan. 3. Types of Oklahoma Promissory Note and Pledge Agreements: a) Fixed Interest Rate Promissory Note and Pledge Agreement: This type of agreement specifies a fixed interest rate on the loan amount, meaning the interest remains constant throughout the loan term. The borrower agrees to repay the principal amount borrowed along with the predetermined interest rate within the stipulated timeframe. b) Variable Interest Rate Promissory Note and Pledge Agreement: In this agreement, the interest rate on the loan is subject to change based on a predetermined benchmark, such as the prime rate or LIBOR index. The interest rate fluctuates periodically, affecting the borrower's loan repayment obligations. c) Secured Promissory Note and Pledge Agreement: This type of agreement includes the grant of a security interest in the company's common stock as collateral, offering protection for the lender in case of default. If the borrower fails to repay the loan amount, the lender has the right to dispose of the pledged shares to recover the outstanding debt. d) Convertible Promissory Note and Pledge Agreement: A convertible Promissory Note and Pledge Agreement allows the lender to convert the borrowed amount into equity shares of the company, usually at a predetermined conversion price or formula. This type of agreement provides an option for the lender to transition from a debt holder to an equity shareholder at a later date. In Oklahoma, these are some commonly utilized Promissory Note and Pledge Agreement variations associated with loans and grants of security interest in shares of a company's common stock. However, it is crucial to consult with legal professionals to understand the specific requirements and regulations applicable to each situation.

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How to fill out Oklahoma Promissory Note And Pledge Agreement Regarding Loan And Grant Of Security Interest In Shares Of The Company's Common Stock?

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FAQ

If the company's cash flow is healthy enough to keep up the collateral value, pledged shares may not harm. But, if the cash flow is poor and promoters cannot maintain collateral value, the pledged shares may prove disastrous for the company's financial conditions.

The only way that a secured party may perfect its security interest in money is by possession. Instruments. A lender may perfect a security interest in an instrument either by filing or possession.

The pledgor BO has to fill up the Pledge Request Form (PRF) in duplicate and submit the same to its DP. On receipt of the PRF from the pledgor, the pledgor's DP will set up a pledge request in the depository system and a unique Pledge Sequence No. (PSN) will be generated.

Loans from banks or other institutional lenders are always made using a number of documents, two of which are a promissory and security agreement. In general, the promissory note is your written promise to repay the loan and a security agreement is used when collateral is given for the loan.

You may submit Margin Pledge Instruction electronically using NSDL SPEED-e platform, if you are a registered user (password user or e- user). Your stock broker (Trading Member) may initiate Margin Pledge instruction on your behalf if you have given a Power of Attorney (POA) in his favour.

The pledging of shares is similar to a loan. Banks or financial institutions offer loans on taking the promoter's shares as collateral. The value of the pledged shares is decided by the lender and promoter as per the market value of the shares. ing to that, they pen down an agreement.

What is Pledging Requirement? Pledging Requirement refers to a legal, or bureaucratic, stipulation that marketable and actively traded securities be pledged as collateral for public fund, or other specific, deposits.

An agreement typically used to create a security interest in equity interests (including capital stock, LLC interests, and partnership interests) and promissory notes.

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Pledge. (a) Purchaser hereby assigns, transfers and pledges the Shares to the Company as security for payment of the Note. (b) Purchaser agrees that ... Grant of Security Interest. Pledgor hereby grants the Corporation a security interest in, and assigns, transfers to and pledges with the Corporation, the ...... a secured party may remove an accession from other goods if the security interest in the accession has priority over the claims of every person having an ... “Note” means that certain promissory note made by Borrower payable to the order ... “Security Agreement”: See Section 3.1. “Subsidiary” of a Person means a ... There are four basic methods for perfecting a security interest under the UCC. First, and most common, is the filing of a properly completed financing statement ... All Collateral that is Pledged Shares is duly authorized, validly issued, fully paid, and non-assessable (except to the extent required by applicable Law), and ... THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER ... Security Agreement: An agreement creating or memorializing a security interest granted by a debtor to a secured party. • Secured Party (a/k/a Secured Creditor): ... For a security interest to be enforceable against the debtor or third party ... note, loan agreement, security agreement, or other related documents. After ... Jul 7, 2020 — “Administrative Agent Fee Letter” means that certain fee letter dated on ... Loan Document in accordance with this Agreement. “Blocked Person ...

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Oklahoma Promissory Note and Pledge Agreement regarding loan and grant of security interest in shares of the company's common stock