How To Use
This Pledge format is intended for a creditor to get additional collateral from a debtor, usually in default when agreeing to this additional requirement, in consideration of not foreclosing on the loan in question.
- The regular Stock Pledge agreement should be used, if possible, by a creditor; the reason this is used is to get a quick signature with the paperwork to follow.
- Make multiple copies. Give one to each party. The creditor should follow up with the standard Stock Pledge Agreement after this one has been signed, sealed, and delivered to them.