A sails pledge agreement is made between two authorities on a specified date mostly between companies by an agent or directly though mutual meetings. In this agreement, the pledgor owns shares of the common stock at a par value per share of a specific corporation or security entitlements in respect thereof (the common stock) .The pledgor, secured party and the agent enters into the securities contract pursuant to which pledgor and secured party have agreed to purchase shares of common stock at the time and on the terms set. There is a condition to the obligations of the secured party under the Securities contract that pledgor and secured party have entered into the agreement.
Under consideration of their mutual covenants contained and to secure the performance by the pledgor of the pledgor’s obligations under the securities contract, the parties intending to be legally bound agree to a set of terms and conditions.
Sails Pledge Agreement
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