Nassau New York Stock Pledge Agreement by Portola Company IV LLC for Portola Packaging, Inc.

• Category: Corporations - Public - Stocks
• State: Multi-State
• County: Nassau
• 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 Nassau New York Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. is a legally binding contract that outlines the terms and conditions surrounding the pledge of stock by Tortola Company IV LLC to secure the financial obligations of Tortola Packaging, Inc. It is crucial to have a thorough understanding of this agreement, as it plays a significant role in safeguarding the interests of both companies involved. The agreement serves as a crucial document in situations where Tortola Packaging, Inc. requires additional financing or seeks to secure a loan. By pledging their stock, Tortola Company IV LLC acts as a guarantor, assuring lenders that in case of default, the pledged stock will serve as a valuable asset that can be liquidated to recover the amount owed. This agreement is known for its comprehensiveness, covering various essential elements such as stock valuation, transferability, and restrictions. It establishes the details of the pledge, including the duration and conditions under which the pledged stock may be released back to Tortola Company IV LLC. Different types or variations of the Nassau New York Stock Pledge Agreement may exist, tailored to the specific needs and requirements of Tortola Packaging, Inc. Some variations could include: 1. Limited Pledge Agreement: This type of agreement may limit the scope of the pledged stock, either by a specific portion or by a particular class of shares. 2. Revocable Pledge Agreement: In certain cases, the pledge agreement may grant the pledge, Tortola Company IV LLC, the option to revoke the pledge, typically under predetermined circumstances such as fulfilling certain obligations or obtaining alternative collateral. 3. Cross-Collateralization Pledge Agreement: This type of agreement allows Tortola Packaging, Inc. to pledge multiple types of securities or assets as collateral, incorporating stock, real estate, or other valuable holdings. 4. Floating Lien Pledge Agreement: With this agreement, the stock pledge acts as a floating lien, serving as security for both existing and future loans or financial obligations of Tortola Packaging, Inc. It is important for both parties involved to seek legal advice before entering into the Nassau New York Stock Pledge Agreement. With the use of appropriate legal counsel, the agreement can be tailored to best protect the interests of Tortola Company IV LLC as the pledge and Tortola Packaging, Inc. as the borrower, ensuring a fair and mutually beneficial arrangement.

The Nassau New York Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. is a legally binding contract that outlines the terms and conditions surrounding the pledge of stock by Tortola Company IV LLC to secure the financial obligations of Tortola Packaging, Inc. It is crucial to have a thorough understanding of this agreement, as it plays a significant role in safeguarding the interests of both companies involved. The agreement serves as a crucial document in situations where Tortola Packaging, Inc. requires additional financing or seeks to secure a loan. By pledging their stock, Tortola Company IV LLC acts as a guarantor, assuring lenders that in case of default, the pledged stock will serve as a valuable asset that can be liquidated to recover the amount owed. This agreement is known for its comprehensiveness, covering various essential elements such as stock valuation, transferability, and restrictions. It establishes the details of the pledge, including the duration and conditions under which the pledged stock may be released back to Tortola Company IV LLC. Different types or variations of the Nassau New York Stock Pledge Agreement may exist, tailored to the specific needs and requirements of Tortola Packaging, Inc. Some variations could include: 1. Limited Pledge Agreement: This type of agreement may limit the scope of the pledged stock, either by a specific portion or by a particular class of shares. 2. Revocable Pledge Agreement: In certain cases, the pledge agreement may grant the pledge, Tortola Company IV LLC, the option to revoke the pledge, typically under predetermined circumstances such as fulfilling certain obligations or obtaining alternative collateral. 3. Cross-Collateralization Pledge Agreement: This type of agreement allows Tortola Packaging, Inc. to pledge multiple types of securities or assets as collateral, incorporating stock, real estate, or other valuable holdings. 4. Floating Lien Pledge Agreement: With this agreement, the stock pledge acts as a floating lien, serving as security for both existing and future loans or financial obligations of Tortola Packaging, Inc. It is important for both parties involved to seek legal advice before entering into the Nassau New York Stock Pledge Agreement. With the use of appropriate legal counsel, the agreement can be tailored to best protect the interests of Tortola Company IV LLC as the pledge and Tortola Packaging, Inc. as the borrower, ensuring a fair and mutually beneficial arrangement.