San Antonio Texas Stock Pledge Agreement by Portola Company IV LLC for Portola Packaging, Inc.

• Category: Corporations - Public - Stocks
• State: Multi-State
• City: San Antonio
• 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 A stock pledge agreement refers to a legally binding contract between two parties Tortolala Company IV LLC (the pledgor) and Tortola Packaging, Inc. (the pledge) — in the city of San Antonio, Texas. The agreement serves as a collateral arrangement in which the pledge pledges its stock as security for a debt or obligation owed to the pledge. In this case, Tortola Company IV LLC is providing a Stock Pledge Agreement to Tortola Packaging, Inc. In simpler terms, Tortola Company IV LLC is offering its stock holdings as a guarantee or assurance to Tortola Packaging, Inc. for a specific purpose. This agreement signifies that if Tortola Company IV LLC fails to fulfill its obligations, Tortola Packaging, Inc. can claim the pledged stock to compensate for the outstanding debt. The Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. helps establish trust and protection for both parties involved. Through the pledge agreement, Tortola Packaging, Inc. gains a form of security or collateral, reducing the risk associated with lending or extending credit to Tortola Company IV LLC. While there might not be different types of Stock Pledge Agreements specifically named under Tortola Company IV LLC for Tortola Packaging, Inc., variations can be found based on the terms and conditions outlined within the agreement. These may include provisions for repayment schedules, interest rates, default clauses, and rights of the pledge to exercise voting rights for the pledged stock. It is crucial for both parties to thoroughly review and negotiate the terms of the Stock Pledge Agreement before signing. Hiring legal counsel is highly recommended ensuring that all aspects of the agreement align with the desires and needs of both Tortola Company IV LLC and Tortola Packaging, Inc.

A stock pledge agreement refers to a legally binding contract between two parties Tortolala Company IV LLC (the pledgor) and Tortola Packaging, Inc. (the pledge) — in the city of San Antonio, Texas. The agreement serves as a collateral arrangement in which the pledge pledges its stock as security for a debt or obligation owed to the pledge. In this case, Tortola Company IV LLC is providing a Stock Pledge Agreement to Tortola Packaging, Inc. In simpler terms, Tortola Company IV LLC is offering its stock holdings as a guarantee or assurance to Tortola Packaging, Inc. for a specific purpose. This agreement signifies that if Tortola Company IV LLC fails to fulfill its obligations, Tortola Packaging, Inc. can claim the pledged stock to compensate for the outstanding debt. The Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. helps establish trust and protection for both parties involved. Through the pledge agreement, Tortola Packaging, Inc. gains a form of security or collateral, reducing the risk associated with lending or extending credit to Tortola Company IV LLC. While there might not be different types of Stock Pledge Agreements specifically named under Tortola Company IV LLC for Tortola Packaging, Inc., variations can be found based on the terms and conditions outlined within the agreement. These may include provisions for repayment schedules, interest rates, default clauses, and rights of the pledge to exercise voting rights for the pledged stock. It is crucial for both parties to thoroughly review and negotiate the terms of the Stock Pledge Agreement before signing. Hiring legal counsel is highly recommended ensuring that all aspects of the agreement align with the desires and needs of both Tortola Company IV LLC and Tortola Packaging, Inc.