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

• Category: Corporations - Public - Stocks
• State: Multi-State
• County: Tarrant
• 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 is a legal contract between a borrower and a lender that involves the borrower pledging a certain number of shares of stock as collateral for a loan. In the case of Tarrant Texas Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc., it refers to a specific agreement made by Tortola Company IV LLC to provide collateral in the form of stock to secure a loan for Tortola Packaging, Inc. Tortola Packaging, Inc. is a company based in Tarrant, Texas, engaged in the manufacturing and distribution of packaging products. The specific agreement mentioned represents a commitment from Tortola Company IV LLC to pledge a certain number of shares from its stock holding as collateral in exchange for financial support extended to Tortola Packaging, Inc. The terms and conditions of the Tarrant Texas Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. may vary depending on the specific agreement between the two entities. Some potential variations or types of stock pledge agreements under this arrangement could include: 1. Fixed Percentage Stock Pledge Agreement: In this type of agreement, Tortola Company IV LLC would pledge a fixed percentage of its stock ownership to secure the loan for Tortola Packaging, Inc. For example, if Tortola Company IV LLC owns 1,000 shares of stock, it may pledge 30% (300 shares) as collateral. 2. Fixed Number of Shares Stock Pledge Agreement: Alternatively, the agreement could specify a fixed number of shares that Tortola Company IV LLC agrees to pledge as collateral. For instance, Tortola Company IV LLC might pledge 500 of its shares, regardless of the total number in its stock holding. 3. Revolving Stock Pledge Agreement: This type of agreement allows for the replacement or substitution of pledged shares with other qualified shares over time. It provides flexibility to Tortola Company IV LLC in managing its collateral while maintaining its commitment to secure the loan for Tortola Packaging, Inc. It is important to note that the specific details of the Tarrant Texas Stock Pledge Agreement, such as the number or percentage of shares pledged, the loan amount, interest rates, and any additional provisions or clauses, would be outlined in the agreement itself. These agreements typically serve to protect the lender's interests while providing necessary financing for the borrower.

A stock pledge agreement is a legal contract between a borrower and a lender that involves the borrower pledging a certain number of shares of stock as collateral for a loan. In the case of Tarrant Texas Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc., it refers to a specific agreement made by Tortola Company IV LLC to provide collateral in the form of stock to secure a loan for Tortola Packaging, Inc. Tortola Packaging, Inc. is a company based in Tarrant, Texas, engaged in the manufacturing and distribution of packaging products. The specific agreement mentioned represents a commitment from Tortola Company IV LLC to pledge a certain number of shares from its stock holding as collateral in exchange for financial support extended to Tortola Packaging, Inc. The terms and conditions of the Tarrant Texas Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc. may vary depending on the specific agreement between the two entities. Some potential variations or types of stock pledge agreements under this arrangement could include: 1. Fixed Percentage Stock Pledge Agreement: In this type of agreement, Tortola Company IV LLC would pledge a fixed percentage of its stock ownership to secure the loan for Tortola Packaging, Inc. For example, if Tortola Company IV LLC owns 1,000 shares of stock, it may pledge 30% (300 shares) as collateral. 2. Fixed Number of Shares Stock Pledge Agreement: Alternatively, the agreement could specify a fixed number of shares that Tortola Company IV LLC agrees to pledge as collateral. For instance, Tortola Company IV LLC might pledge 500 of its shares, regardless of the total number in its stock holding. 3. Revolving Stock Pledge Agreement: This type of agreement allows for the replacement or substitution of pledged shares with other qualified shares over time. It provides flexibility to Tortola Company IV LLC in managing its collateral while maintaining its commitment to secure the loan for Tortola Packaging, Inc. It is important to note that the specific details of the Tarrant Texas Stock Pledge Agreement, such as the number or percentage of shares pledged, the loan amount, interest rates, and any additional provisions or clauses, would be outlined in the agreement itself. These agreements typically serve to protect the lender's interests while providing necessary financing for the borrower.