Pledge of Stock, Simple is provided to inform you about this document in question and assist you in its preparation. 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.
Pledge of Stock, Simple
__________________, referred to as OWNER, and _______________, referred to as CREDITOR, agree:
OWNER is indebted to CREDITOR in the sum of $____(____ _________&___/100 dollars) for a note;
to secure repayment of the debt, OWNER pledges to CREDITOR ______ shares of _________ stock of ______________________.
OWNER agrees to execute all necessary documents to perfect the pledge.