Pledges shares of
stocks as collateral security to secure the payment of debt
The "Pledgee" may
assign or transfer debt and the collateral pledged to a third party
Upon payment of the
obligation for which the shares were pledged, the shares shall be returned to
the "Pledgor" and the pledge agreement shall be terminated
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The stock pledge agreement grants a security
interest in specific shares of stock held by the shareholder in order to
secure the shareholder's responsibility and commitment. This practice is
typically used by companies that issue shares in exchange for promissory
notes.
