Broward Florida Stock Pledge Agreement by Portola Company IV LLC for Portola Packaging, Inc.

• Category: Corporations - Public - Stocks
• State: Multi-State
• County: Broward
• Control #: US-EG-9024
• Format: Word; Rich Text

Description

Amended and Restated Stock Pledge Agreement between Portola Company IV, LLC in favor of Portola Packaging, Inc. dated October 4, 1999. 11 pages The Broward Florida Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. is a legally binding document that outlines the terms and conditions of a stock pledge arrangement between these two entities in Broward County, Florida. This agreement enables Tortola Packaging, Inc. to pledge its stock as collateral or security for a loan or debt owed to Tortola Company IV LLC. The primary purpose of this agreement is to provide assurance to Tortola Company IV LLC that in the event of default on the loan or debt, it can seize and sell the pledged stock to recover the outstanding amount. This agreement establishes a clear understanding of the rights and obligations of both parties regarding the pledged stock. The agreement includes detailed information about the stock being pledged, such as the type of stock, the number of shares, and their ownership details. The document also specifies the specific loan or debt to which the stock pledge relates, including the principal amount, interest rate, and repayment terms. Additionally, the agreement outlines the restrictions and limitations on the pledged stock, such as limitations on the transfer or sale of the shares during the term of the pledge. It may also include provisions related to the valuation of the stock and procedures for releasing or substituting the pledged stock under certain circumstances. Different types of Broward Florida Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. may exist based on specific variations or modifications to the agreement terms. These variations can include different collateral arrangements, such as multiple stock pledges involving various classes of stock owned by Tortola Packaging, Inc. Moreover, the agreement can be tailored to meet the requirements of specific loan agreements, varying repayment terms, or other unique provisions requested by either party. In summary, the Broward Florida Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. is a critical legal agreement that formalizes the pledge of stock as collateral or security. It safeguards the interests of both Tortola Packaging, Inc. and Tortola Company IV LLC while establishing a framework for the proper use and protection of the pledged stock.

The Broward Florida Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. is a legally binding document that outlines the terms and conditions of a stock pledge arrangement between these two entities in Broward County, Florida. This agreement enables Tortola Packaging, Inc. to pledge its stock as collateral or security for a loan or debt owed to Tortola Company IV LLC. The primary purpose of this agreement is to provide assurance to Tortola Company IV LLC that in the event of default on the loan or debt, it can seize and sell the pledged stock to recover the outstanding amount. This agreement establishes a clear understanding of the rights and obligations of both parties regarding the pledged stock. The agreement includes detailed information about the stock being pledged, such as the type of stock, the number of shares, and their ownership details. The document also specifies the specific loan or debt to which the stock pledge relates, including the principal amount, interest rate, and repayment terms. Additionally, the agreement outlines the restrictions and limitations on the pledged stock, such as limitations on the transfer or sale of the shares during the term of the pledge. It may also include provisions related to the valuation of the stock and procedures for releasing or substituting the pledged stock under certain circumstances. Different types of Broward Florida Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. may exist based on specific variations or modifications to the agreement terms. These variations can include different collateral arrangements, such as multiple stock pledges involving various classes of stock owned by Tortola Packaging, Inc. Moreover, the agreement can be tailored to meet the requirements of specific loan agreements, varying repayment terms, or other unique provisions requested by either party. In summary, the Broward Florida Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. is a critical legal agreement that formalizes the pledge of stock as collateral or security. It safeguards the interests of both Tortola Packaging, Inc. and Tortola Company IV LLC while establishing a framework for the proper use and protection of the pledged stock.