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FORM OF PLEDGE AGREEMENT

Security Agreement

FORM OF PLEDGE AGREEMENT | Document Parties: INTERCLICK, INC. | CUSTOMER ACQUISITION NETWORK HOLDINGS, INC | Options Acquisition Sub, Inc | OPTIONS MEDIA GROUP HOLDINGS, INC You are currently viewing:
This Security Agreement involves

INTERCLICK, INC. | CUSTOMER ACQUISITION NETWORK HOLDINGS, INC | Options Acquisition Sub, Inc | OPTIONS MEDIA GROUP HOLDINGS, INC

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Title: FORM OF PLEDGE AGREEMENT
Governing Law: New York     Date: 6/27/2008

FORM OF PLEDGE AGREEMENT, Parties: interclick  inc. , customer acquisition network holdings  inc , options acquisition sub  inc , options media group holdings  inc
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2.   Pledge . Pledgor hereby pledges, assigns, hypothecates, transfers, delivers and grants to Pledgee , a first lien on and first priority perfected security interest in (i) all of the capital stock or other equity interests of the Pledge Entities now owned or hereafter acquired by Pledgor (collectively, the “ Pledged Shares ”), (ii) all other property hereafter delivered to, or in the possession or in the custody of, Pledgee , in substitution for or in addition to the Pledged Shares , (iii) any other property of Pledgor , as described in Section 4   below or otherwise, whether now or hereafter delivered to, or in the possession or custody of Pledgor , and (iv) all proceeds of the collateral described in the preceding clauses (i) , (ii)   and (iii)   (the collateral described in clauses (i)   through (iv)   of this Section 2   being collectively referred to as the “ Pledged Collateral ”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Liabilities . All of the Pledged Shares now owned by Pledgor which are presently represented by certificates are listed on Exhibit A   hereto, which certificates, with undated assignments separate from certificates or stock powers duly executed in blank by Pledgor and irrevocable proxies, are being delivered to Pledgee simultaneously herewith. Upon the creation or acquisition of any new Pledged Shares , Pledgor shall execute an Addendum in the form of Exhibit B   attached hereto (a “ Pledge Addendum ”). Any Pledged Collateral described in a Pledge Addendum executed by Pledgor shall thereafter be deemed to be listed on Exhibit A   hereto. Pledgee shall maintain possession and custody of the certificates representing the Pledged Shares and any additional Pledged Collateral .
 

 
 
 
 
 
 
 
(f)   the execution, delivery and performance of this Agreement will not violate any provision of any applicable law or regulation or of any order, judgment, writ, award or decree of any court, arbitrator or governmental authority, domestic or foreign, or of the articles or certificate of incorporation, bylaws or any other similar organizational documents of Pledgor or any Pledge Entity or of any securities issued by Pledgor or any Pledge Entity or of any mortgage, indenture, lease, contract, or other agreement, instrument or undertaking to which Pledgor or any Pledge Entity is a party or which purports to be binding upon Pledgor or any Pledge Entity or upon any of the assets of Pledgor or any Pledge Entity , and will not result in the creation or imposition of any lien, charge or encumbrance on or security interest in any of the assets of Pledgor or any Pledge Entity , except as otherwise contemplated by this Agreement ;
 
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(g)   the pledge, assignment and delivery of the Pledged Shares and the other Pledged Collateral pursuant to this Agreement creates a valid first lien on and perfected first priority security interest in such Pledged Shares and Pledged Collateral and the proceeds thereof in favor of Pledgee , subject to no prior pledge, lien, mortgage, hypothecation, security interest, charge, option or encumbrance or to any agreement purporting to grant to any third party a security interest in the property or assets of Pledgor which would include the Pledged Shares or any other Pledged Collateral . Pledgor covenants and agrees that it will defend, for the benefit of Pledgee , Pledgee ’s right, title and security interest in and to the Pledged Shares , the other Pledged Collateral and the proceeds thereof against the claims and demands of all other persons or entities;
 
(h)   Each Pledged Share consisting of either (i) a membership interest in a Person that is a limited liability company or (ii) a partnership interest in a Person that is a partnership (if any) are “securities” governed by Article 8 of the UCC . Certificates evidencing such membership interests or partnership interests (if any) have been issued to Pledgor by the applicable Person . Pledgor covenants it will not cause and will not permit any Pledged Entity to “opt-out” of Article 8 of the UCC , and Pledgor will not take, and will not permit any Pledged Entity to take, any actions to cause the capital stock, membership interests, partnership interests or similar equity interests of such Pledged Entity (if any) to cease to be classified as “securities” governed by Article 8 of the UCC ; and
 
 
4.   Dividends, Distributions, Etc.   If, while this Agreement is in effect, Pledgor shall become entitled to receive or shall receive any certificate ( including, without limitation , any certificate representing a dividend or a distribution in connection with any reclassification, increase or reduction of capital, or issued in connection with any reorganization, merger or consolidation), or any options or rights, whether as an addition to, in substitution for, or in exchange for any of the Pledged Shares or otherwise, Pledgor agrees, in each case, to accept the same as Pledgee ’s agent and to hold the same in trust for Pledgee , and to deliver the same promptly (but in any event within three days) to Pledgee in the exact form received, with the endorsement of Pledgor when necessary and/or with appropriate undated assignments separate from certificates or stock powers duly executed in blank, to be held by Pledgee subject to the terms hereof, as additional Pledged Collateral . Pledgor shall promptly deliver to Pledgee (i) a Pledge Addendum with respect to such additional certificates, and (ii) any financing statements or amendments to financing statements as requested by Pledgee . Pledgor hereby authorizes Pledgee to attach each Pledge Amendment to this Agreement . In case any distribution of capital shall be made on or in respect of the Pledged Shares or any property shall be distributed upon or with respect to the Pledged Shares pursuant to the recapitalization or reclassification of the capital of the issuer thereof or pursuant to the reorganization thereof, the property so distributed shall be delivered to Pledgee to be held by it as additional Pledged Collateral . Except as provided in Section 5(b)   below, all sums of money and property so paid or distributed in respect of the Pledged Shares which are received by Pledgor shall, until paid or delivered to Pledgee , be held by Pledgor in trust as additional Pledged Collateral .
 
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(a)   So long as no Event of Default (for purposes of this Agreement , as defined in the Note ) has occurred and is continuing, Pledgor shall be entitled (subject to the other provisions hereof , including, without limitation , Section 8   below) to exercise its voting and other consensual rights with respect to the Pledged Shares and otherwise exercise the incidents of ownership thereof in any manner not inconsistent with this Agreement , the Note , the Securities Agreement , the Guaranty and the other documents executed in relation to the Loan (collectively, the “ Transaction Documents ”). Pledgor hereby grants to Pledgee or its nominee, an irrevocable proxy to exercise all voting and corporate rights relating to the Pledged Shares in any instance, provided such proxy shall be effective, at the discretion of Pledgee , only upon the occurrence and during the continuance of an Event of Default .   Upon the request of Pledgee at any time, Pledgor agrees to deliver to Pledgee such further evidence of such irrevocable proxy or such further irrevocable proxies to vote the Pledged Shares as Pledgee may request.
 
 
 
 
6.   Rights of Pledgee .   Pledgee shall not be liable for failure to collect or realize upon the Liabilities or any collateral security or guaranty therefor, or any part thereof, or for any delay in so doing, nor shall Pledgee be under any obligation to take any action whatsoever with regard thereto. Any or all of the Pledged Shares held by Pledgee hereunder may, if an Event of Default has occurred and is continuing, without notice, be registered in the name of Pledgee or its nominee, and Pledgee or its nominee may thereafter without notice exercise all voting and corporate rights at any meeting with respect to any Pledge Entity and exercise any and all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining to any of the Pledged Shares as if it were the absolute owner thereof , including, without limitation , the right to vote in favor of, and to exchange at its discretion any and all of the Pledged Shares upon, the merger, consolidation, reorganization, recapitalization or other readjustment with respect to any Pledge Entity or upon the exercise by any Pledge Entity , Pledgor or Pledgee of any right, privilege or option pertaining to any of the Pledged Shares , and in connection therewith, to deposit and deliver any and all of the Pledged Shares with any committee, depository, transfer agent, registrar or other designated agency upon such terms and conditions as Pledgee may reasonably determine, all without liability except to account for property actually received by Pl

 
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