Document:

EX-10.4.2

Exhibit 10.4.2

          SUPPLEMENT NO. 2 dated as of April 30, 2007 (this “Supplement”), to the PLEDGE
AGREEMENT dated as of January 31, 2007, among McJunkin Corporation, a West Virginia corporation
(the “Borrower”), each of the Subsidiaries of the Borrower listed on the signature pages
thereto (each such Subsidiary being a “Subsidiary Pledgor” and, collectively, the
“Subsidiary Pledgors”; the Subsidiary Pledgors and the Borrower are referred to
collectively as the “Pledgors”) and Lehman Commercial Paper Inc., as Collateral Agent (in
such capacity, the “Collateral Agent”) under the Credit Agreement referred to below.

          A. Reference is made to the Term Loan Credit Agreement dated as of January
31, 2007 (as the same may be amended, restated, supplemented or otherwise modified, refinanced
or replaced from time to time, the “Credit Agreement”) among the Borrower, the lending
institutions from time to time party thereto (the “Lenders”), Lehman Commercial Paper
Inc., as
Administrative Agent and as Collateral Agent and the Term Loan Guarantee dated as of January
31, 2007 (as the same may be amended, restated, supplemented and or otherwise modified from
time to time, the “Guarantee”), among the Guarantors party thereto and the Collateral
Agent.

          B. Capitalized terms used herein and not otherwise defined herein shall have
the meanings assigned to such terms in the Pledge Agreement.

          C. The Pledgors have entered into the Pledge Agreement in order to induce
the Administrative Agent, the Collateral Agent, the Syndication Agent, and the Lenders to
enter
into the Credit Agreement, to induce the Lenders to make their respective Extensions of Credit
to
the Borrower under the Credit Agreement and to induce one or more Lenders or affiliates of
Lenders to enter into Hedge Agreements with the Borrower.

          D. The undersigned Subsidiary Guarantor (the “Additional Pledgor”) is (a)
the legal and beneficial owners of the Equity Interests described under Schedule 1 hereto and
issued by the entities named therein (such pledged Equity Interests, together with all other
Equity
Interests required to be pledged under the Pledge Agreement (the “After-acquired
Additional Pledged Shares”), referred to collectively herein as the “Additional Pledged
Shares”) and (b) the
legal and beneficial owners of the Indebtedness described under Schedule 1 hereto and issued
by
the entities named therein (such Indebtedness, together with all other Indebtedness required
to be
pledged under the Pledge Agreement, the “Additional Pledged Debt”), in each case as
such
schedule may be amended in accordance with the Credit Agreement.

          E. Section 9.12 of the Credit Agreement and Section 9(b) of the Pledge
Agreement provide that additional Subsidiaries may become Subsidiary Pledgors under the
Pledge Agreement by execution and delivery of an instrument in the form of this Supplement.
The undersigned Additional Pledgor is executing this Supplement in accordance with the
requirements of Section 9(b) of the Pledge Agreement to pledge to the Collateral Agent for the
ratable benefit of the Secured Parties the Additional Pledged Shares and the Additional
Pledged
Debt and to become a Subsidiary Pledgor under the Pledge Agreement in order to induce (i) the
Lenders to make additional Extensions of Credit and as consideration for Extensions of Credit
previously made and (ii) the Lender Counterparties to enter into Hedge Agreements with the
Borrower.

 

 

          Accordingly, the Collateral Agent and the undersigned Additional Pledgor agree as follows:

          SECTION 1. In accordance with Section 9(b) of the Pledge Agreement, the Additional Pledgor by
its signature hereby transfers, assigns and pledges to the Collateral Agent for the ratable benefit
of the Secured Parties, and hereby grants to the Collateral Agent for the ratable benefit of the
Secured Parties, a security interest in all of the Additional Pledgor’s right, title and interest
in the following, whether now owned or existing or hereafter acquired or existing or arising
(collectively, the “Additional Collateral”):

     (a) the Additional Pledged Shares held by the Additional Pledgor and the certificates
representing such Additional Pledged Shares and any interest of the Additional Pledgor in
the entries on the books of the issuer of the Additional Pledged Shares or any financial
intermediary pertaining to the Additional Pledged Shares and all dividends, cash, warrants,
rights, instruments and other property or proceeds from time to time received, receivable
or otherwise distributed in respect of or in exchange for any or all of the Additional
Pledged Shares;

     (b) the Additional Pledged Debt and the instruments evidencing the Additional
Pledged Debt owed to the Additional Pledgor, and all interest, cash, instruments and
other property or proceeds from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such Additional Pledged
Debt; and

     (c) to the extent not covered by clauses (a) and (b) above, respectively, all Proceeds
of any or all of the foregoing Additional Collateral.

          For purposes of the Pledge Agreement, (x) the Collateral shall be deemed to include the
Additional Collateral and (y) the After-acquired Pledged Shares shall be deemed to include the
Additional After-acquired Pledge Shares.

          SECTION 2. The Additional Pledgor by its signature below becomes a Pledgor under the Pledge
Agreement with the same force and effect as if originally named therein as a Pledgor and the
Additional Pledgor hereby agrees to all the terms and provisions of the Pledge Agreement applicable
to it as a Pledgor thereunder. Each reference to a “Subsidiary Pledgor” or a “Pledgor” in the
Pledge Agreement shall be deemed to include each Additional Pledgor. The Pledge Agreement is hereby
incorporated herein by reference.

     SECTION 3. The Additional Pledgor represents and warrants as follows:

     (a) Schedule 1
hereto (i) correctly represents as of the date hereof (A) the issuer, the certificate
number, the Pledgor and registered owner, the number and class and the percentage of the
issued and outstanding Equity Interests of such class of all Additional Pledged Shares and
(B) the issuer, the initial principal amount, the Pledgor and holder, date of and maturity
date of all Additional Pledged Debt and (ii) together with Schedule 1 to the Pledge
Agreement and the comparable schedules to each other Supplement to the Pledge Agreement,
accurately and completely describes all Equity Interests, debt securities and promissory
notes required to be pledged under the Pledge

 

 

Agreement. Except as set forth on Schedule 1 hereto, the Additional Pledged Shares
represent all (or 65% in the case of pledges of Foreign Subsidiaries) of the issued and
outstanding Equity Interests of each class of Equity Interests of the issuer on the
date hereof.

     (b) The Additional Pledgor is the legal and beneficial owner of the Additional
Collateral pledged or assigned by such Additional Pledgor hereunder free and clear of any
Lien, except for the Lien created by this Supplement to the Pledge Agreement.

     (c) As of the date of this Supplement, the Additional Pledged Shares pledged by such
Additional Pledgor hereunder have been duly authorized and validly issued and, in the case
of Additional Pledged Shares issued by a corporation, are fully paid and non-assessable.

     (d) The execution and delivery by the Additional Pledgor of this Supplement and the
pledge of the Additional Collateral pledged by such Additional Pledgor hereunder pursuant
hereto create a valid and perfected first priority security interest in the Additional
Collateral, securing the payment of the Obligations, in favor of the Collateral Agent for
the ratable benefit of the Secured Parties.

     (e) The Additional Pledgor has full power, authority and legal right to pledge all the
Additional Collateral pledged by the Additional Pledgor pursuant to this Supplement and this
Supplement constitutes a legal, valid and binding obligation of the Additional Pledgor,
enforceable in accordance with its terms, except as enforceability thereof may be limited by
bankruptcy, insolvency or other similar laws affecting creditors’ rights generally and
subject to general principles of equity.

          SECTION 4. This Supplement may be executed by one or more of the parties to this Supplement on
any number of separate counterparts (including by facsimile or other electronic transmission), and
all of said counterparts taken together shall be deemed to constitute one and the same instrument.
A set of the copies of this Supplement signed by all the parties shall be lodged with the
Collateral Agent and the Borrower. This Supplement shall become effective as to the Additional
Pledgor when the Collateral Agent shall have received counterparts of this Supplement that, when
taken together, bear the signatures of the Additional Pledgor and the Collateral Agent.

          SECTION 5. Except as expressly supplemented hereby, the Pledge Agreement shall remain in full
force and effect.

          SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

          SECTION 7. Any provision of this Supplement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such

 

 

prohibition or unenforceability without invalidating the remaining provisions hereof and in the
Pledge Agreement, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto
shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of
the invalid, illegal or unenforceable provisions.

          SECTION 8. All notices, requests and demands pursuant hereto shall be made in accordance with
Section 16 of the Pledge Agreement. All communications and notices hereunder to the Additional
Pledgor shall be given to it in care of the Borrower at the Borrower’s address set forth in Section
14.2 of the Credit Agreement.

          SECTION 9. The Additional Pledgor agrees to reimburse the Collateral Agent for its reasonable
out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other
charges and disbursements of counsel for the Collateral Agent.

[Signature
Pages Follow]

 

 

IN WITNESS WHEREOF, the Additional Pledgor and the Collateral Agent have duly executed this
Supplement to the Pledge Agreement as of the day and year first above written.

	 	 	 	 	 
	 	Midway-Tristate Corporation, 

   as Additional Pledgor

 	 
	 	By:  	/s/ S. D. Wehrle
 	 
	 	 	Name:  	S. D. Wehrle  	 
	 	 	Title:  	Vice President 	 
	 
	 	Lehman Commercial Paper Inc., 

   as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Supplement No. 2 to Term Loan Pledge Agreement

 

 

     IN WITNESS WHEREOF, the Additional Pledgor and the Collateral Agent have duly executed this
Supplement to the Pledge Agreement as of the day and year first above written.

	 	 	 	 	 
	 	Midway-Tristate Corporation, 

   as Additional Pledgor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Lehman Commercial Paper Inc., 

   as Collateral Agent

 	 
	 	By:  	/s/ Maria M. Lund
 	 
	 	 	Name:  	Maria M. Lund  	 
	 	 	Title:  	Authorized Signatory 	 
	 

Supplement No. 2 to Term Loan Pledge AgreementEX-10.4.3

Exhibit 10.4.3

SUPPLEMENT NO. 3 TO TERM PLEDGE AGREEMENT

          SUPPLEMENT NO. 3 dated as of October 31, 2007 (this “Supplement”), to the PLEDGE
AGREEMENT dated as of January 31, 2007 (as the same may be amended, restated, supplemented or
otherwise modified or replaced from time to time, the “Pledge Agreement”), among McJunkin
Corporation, a West Virginia corporation (the “Borrower”), each of the Subsidiaries of the
Borrower listed on the signature pages thereto (each such Subsidiary being a “Subsidiary
Pledgor” and, collectively, the “Subsidiary Pledgors”; the Subsidiary Pledgors and the
Borrower are referred to collectively as the “Pledgors”) and Lehman Commercial Paper Inc.,
as Collateral Agent (in such capacity, the “Collateral Agent”) under the Credit Agreement
referred to below.

          A. Reference is made to the Term Loan Credit Agreement dated as of January 31, 2007 (as the
same may be amended, restated, supplemented or otherwise modified, refinanced or replaced from time
to time, the “Credit Agreement”) among the Borrower, the lending institutions from time to
time party thereto (the “Lenders”), Lehman Commercial Paper Inc., as Administrative Agent
and as Collateral Agent, and the Term Loan Guarantee dated as of January 31, 2007 (as the same may
be amended, restated, supplemented and or otherwise modified from time to time, the
“Guarantee”), among the Guarantors party thereto and the Collateral Agent.

          B. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Pledge Agreement.

          C. The Pledgors have entered into the Pledge Agreement in order to induce the Administrative
Agent, the Collateral Agent, the Syndication Agent, and the Lenders to enter into the Credit
Agreement, to induce the Lenders to make their respective Extensions of Credit to the Borrower
under the Credit Agreement and to induce one or more Lenders or affiliates of Lenders to enter into
Hedge Agreements with the Borrower.

          D. The Borrower and Red Man Pipe & Supply Co. (“Red Man” and, together with Borrower,
the “Additional Pledgors” and each an “Additional Pledgor”) are (a) the legal and
beneficial owners of the Equity Interests described under Schedule 1 hereto and issued by the
entities named therein (such pledged Equity Interests, together with all other Equity Interests
required to be pledged under the Pledge Agreement (the “After-acquired Additional Pledged
Shares”), referred to collectively herein as the “Additional Pledged Shares”) and (b)
the legal and beneficial owners of the Indebtedness described under Schedule 1 hereto and issued by
the entities named therein (such Indebtedness, together with all other Indebtedness required to be
pledged under the Pledge Agreement, the “Additional Pledged Debt”), in each case as such
schedule may be amended in accordance with the Credit Agreement.

          E. Section 9.11 of the Credit Agreement and Section 9(b) of the Pledge Agreement provide that
additional Subsidiaries may become Subsidiary Pledgors under the Pledge Agreement by execution and
delivery of an instrument in the form of this Supplement. In order to induce the Lenders to make
additional Extensions of Credit and as consideration for Extensions of Credit previously made and
the Lender Counterparties to enter into Hedge Agreements with the Borrower, (i) Red Man is
executing this Supplement in accordance with the

 

 

requirements of Section 9(b) of the Pledge
Agreement to pledge to the Collateral Agent for the ratable benefit of the Secured Parties all of
its right, title and interest in and to the Additional Pledged Shares and the Additional Pledged
Debt
and to become a Subsidiary Pledgor under the Pledge Agreement and (ii) Borrower is executing
this Supplement in accordance with the requirements of Section 9(b) of the Pledge Agreement to
pledge to the Collateral Agent for the ratable benefit of the Secured Parties all of its right,
title and interest in and to the Additional Pledged Shares and the Additional Pledged Debt.

     Accordingly, the Collateral Agent and each undersigned Additional Pledgor agree as follows:

     SECTION 1. In accordance with Section 9(b) of the Pledge Agreement, each Additional Pledgor
by its signature hereby transfers, assigns and pledges to the Collateral Agent for the ratable
benefit of the Secured Parties, and hereby grants to the Collateral Agent for the ratable benefit
of the Secured Parties, a security interest in all of such Additional Pledgor’s right, title and
interest in the following, whether now owned or existing or hereafter acquired or existing or
arising (collectively, the “Additional Collateral”):

     (a) the Additional Pledged Shares held by such Additional Pledgor and the certificates
representing such Additional Pledged Shares and any interest of such Additional Pledgor in
the entries on the books of the issuer of the Additional Pledged Shares or any financial
intermediary pertaining to the Additional Pledged Shares and all dividends, cash, warrants,
rights, instruments and other property or proceeds from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of the Additional Pledged
Shares;

     (b) the Additional Pledged Debt and the instruments evidencing the Additional Pledged
Debt owed to such Additional Pledgor, and all interest, cash, instruments and other property
or proceeds from time to time received, receivable or otherwise distributed in respect of or
in exchange for any or all of such Additional Pledged Debt; and

     (c) to the extent not covered by clauses (a) and (b) above, respectively, all Proceeds
of any or all of the foregoing Additional Collateral.

     For purposes of the Pledge Agreement, (x) the Collateral shall be deemed to include the
Additional Collateral and (y) the After-acquired Pledged Shares shall be deemed to include the
Additional After-acquired Pledge Shares.

     SECTION 2. Red Man by its signature below becomes a Pledgor under the Pledge Agreement with
the same force and effect as if originally named therein as a Pledgor and Red Man hereby agrees to
all the terms and provisions of the Pledge Agreement applicable to it as a Pledgor thereunder.
Each reference to a “Subsidiary Pledgor” or a “Pledgor” in the Pledge Agreement shall be deemed to
include Red Man. The Pledge Agreement is hereby incorporated herein by reference.

     SECTION 3. Each Additional Pledgor represents and warrants as follows:

 

 

     (a) Schedule 1 hereto (i) correctly represents as of the date hereof (A) the issuer,
the certificate number, the Pledgor and registered owner, the number and class and the
percentage of the issued and outstanding Equity Interests of such class of all Additional
Pledged Shares and (B) the issuer, the initial principal amount, the Pledgor and holder,
date of and maturity date of all Additional Pledged Debt and (ii) together with Schedule 1
to the Pledge Agreement and the comparable schedules to each other Supplement to the Pledge
Agreement, accurately and completely describes all Equity Interests, debt securities and
promissory notes required to be pledged under the Pledge Agreement. Except as set forth on
Schedule 1 hereto, the Additional Pledged Shares represent all (or 65% in the case of
pledges of Foreign Subsidiaries) of the issued and outstanding Equity Interests of each
class of Equity Interests of the issuer on the date hereof.

     (b) Such Additional Pledgor is the legal and beneficial owner of the Additional
Collateral pledged or assigned by such Additional Pledgor hereunder free and clear of any
Lien, except for the Lien created by this Supplement to the Pledge Agreement.

     (c) As of the date of this Supplement, the Additional Pledged Shares pledged by such
Additional Pledgor hereunder have been duly authorized and validly issued and, in the case
of Additional Pledged Shares issued by a corporation, are fully paid and non-assessable.

     (d) The execution and delivery by such Additional Pledgor of this Supplement and the
pledge of the Additional Collateral pledged by such Additional Pledgor hereunder pursuant
hereto create a valid and perfected first priority security interest in the Additional
Collateral, securing the payment of the Obligations, in favor of the Collateral Agent for
the ratable benefit of the Secured Parties.

     (e) Such Additional Pledgor has full power, authority and legal right to pledge all the
Additional Collateral pledged by such Additional Pledgor pursuant to this Supplement and
this Supplement constitutes a legal, valid and binding obligation of each Additional
Pledgor, enforceable in accordance with its terms, except as enforceability thereof may be
limited by bankruptcy, insolvency or other similar laws affecting creditors’ rights
generally and subject to general principles of equity.

     SECTION 4. This Supplement may be executed by one or more of the parties to this Supplement
on any number of separate counterparts (including by facsimile or other electronic transmission),
and all of said counterparts taken together shall be deemed to constitute one and the same
instrument. A set of the copies of this Supplement signed by all the parties shall be lodged with
the Collateral Agent and the Borrower. This Supplement shall become effective as to each
Additional Pledgor when the Collateral Agent shall have received counterparts of this Supplement
that, when taken together, bear the signatures of such Additional Pledgor and the Collateral Agent.

 

 

     SECTION 5. Except as expressly supplemented hereby, the Pledge Agreement shall remain in full
force and effect.

     SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     SECTION 7. Any provision of this Supplement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof and in the Pledge Agreement,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, illegal
or unenforceable provisions.

     SECTION 8. All notices, requests and demands pursuant hereto shall be made in accordance with
Section 16 of the Pledge Agreement. All communications and notices hereunder to each Additional
Pledgor shall be given to it in care of the Borrower at the Borrower’s address set forth in Section
14.2 of the Credit Agreement.

     SECTION 9. Each Additional Pledgor agrees to reimburse the Collateral Agent for its
reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable
fees, other charges and disbursements of counsel for the Collateral Agent.

[Signature Pages Follow]

 

 

IN WITNESS WHEREOF, each Additional Pledgor and the Collateral Agent have duly executed this
Supplement to the Pledge Agreement as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	McJunkin Corporation,	 	 
	 	 	as Pledgor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ J. F. Underhill	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: James F. Underhill	 	
	 

	 	 	 	Title:   Chief Financial Officer	 	
	 
	 	 	 	 	 	 
	 	 	Red Man Pipe & Supply Co.,	 	 
	 	 	as Additional Pledgor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Dee Paige	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Dee Paige	 	
	 

	 	 	 	Title:   Chief Financial Officer	 	

[Signature Page to Supplement No. 3 to Term Loan Pledge Agreement]

 

 

	 	 	 	 	 
	 	WEST OKLAHOMA PVF COMPANY,

as Additional Pledgor

 	 
	 	By:  	/s/ H. B. Wehrle III	 
	 	 	Name:  	Henry B. Wehrle III	 
	 	 	Title:  	President	 
	 

[Signature
Page to Supplement No. 3 to the Term Loan Pledge Agreement]

 

 

	 	 	 	 	 
	 	MCJUNKIN DEVELOPMENT CORPORATION,

as Additional Pledgor

 	 
	 	By:  	/s/ H. B. Wehrle III
 	 
	 	 	Name:  	Henry B. Wehrle III 	 
	 	 	Title:  	Vice President 	 
	 

[Signature
Page to Supplement No. 3 to the Term Loan Pledge Agreement]

 

 

2

	 	 	 	 	 
	 	MCJUNKIN-WEST AFRICA CORPORATION,

as Additional Pledgor

 	 
	 	By:  	/s/ H. B. Wehrle III
 	 
	 	 	Name:  	Henry B. Wehrle III 	 
	 	 	Title:  	President 	 
	 

[Signature
Page to Supplement No. 3 to the Term Loan Pledge Agreement]

 

 

3

	 	 	 	 	 
	 	MCJUNKIN DE ANGOLA, LDA,

as Additional Pledgor

 	 
	 	By:  	/s/ H. B. Wehrle III
 	 
	 	 	Name:  	Henry B. Wehrle III 	 
	 	 	Title:  	Chairman of the Board of Directors 	 
	 
	 	 	 
	 	By:  	/s/ Stephen D. Wehrle
 	 
	 	 	Name:  	Stephen D. Wehrle 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	James Christopher Noble 	 
	 	 	Title:  	Director 	 
	 

[Signature
Page to Supplement No. 3 to the Term Loan Pledge Agreement]

 

 

3

	 	 	 	 	 
	 	MCJUNKIN DE ANGOLA, LDA,

as Additional Pledgor

 	 
	 	By:  	 	 
	 	 	Name:  	Henry B. Wehrle III 	 
	 	 	Title:  	Chairman of the Board of Directors 	 
	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	Stephen D. Wehrle 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	
/s/ James Christopher Noble
 	 
	 	 	Name:  	James Christopher Noble 	 
	 	 	Title:  	Director 	 
	 

[Signature
Page to Supplement No. 3 to the Term Loan Pledge Agreement]

 

 

	 	 	 	 	 	 	 
	 	 	Lehman Commercial Paper Inc.,	 	 
	 	 	as Collateral Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Laurie Perper	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Laurie Perper		 
	 

	 	 	 	Title:   Senior Vice President		 

[Signature Page to Supplement No. 3 to Term Loan Pledge Agreement]

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