Picture of Ontario Share Pledge Agreement with No Recourse Picture of Ontario Share Pledge Agreement with No Recourse Picture of Ontario Share Pledge Agreement with No Recourse

Ontario Share Pledge Agreement with No Recourse

Prepare a Share Pledge Agreement with No Recourse with this template form, pursuant to the provisions of the Ontario Personal Property Security Act.

  • A shareholder pledges shares of stock to a lender, to be held as security for a loan that the lender is making to a borrower that is a related party to the shareholder.
  • The borrower agrees to pledge any additional, substitute or replacement shares issued in its name.
  • The borrower retains the right to vote the shares.
  • The shareholder has no liability for any shortfall between the balance of the debt owing and any proceeds realized from dealing with the shares, and the lender has no recourse against the shareholder for such shortfall.
  • The shareholder is not a guarantor, surety or indemnifier.
  • This legal form template is available in MS Word format.
  • Intended for use in the Province of Ontario, Canada.
Document Type: Microsoft Word
Last Updated: 14-April-2021
SKU: 4937
$29.99
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Picture of Ontario Share Pledge Agreement

Ontario Share Pledge Agreement

Obtain a pledge of securities from a borrower under this Share Pledge Agreement, pursuant to the provisions of the Ontario Personal Property Security Act.

  • A borrower pledges shares of stock to a lender, to be held as security for a loan that the lender is making to the borrower.
  • The borrower agrees to pledge any additional, substitute or replacement shares issued in its name.
  • The borrower retains the right to vote the shares.
  • The agreement contains a limitation on personal liability clause with respect to the borrower's responsibility for any deficiency owing after disposition of the shares.
  • This form is a fully customizable legal template that you can use as often as you need to.
  • Intended for use only in the Province of Ontario, Canada.
$29.99