transphy Jul 3, 2013:

In my mind, and mine alone, I consider 'pledge' a very 'weak' legal term. 'pledge' merely means 'promise' and a promise can be revoked. 'Yes, I promised/pledged to put £100 in the fund, but, now, I do not want to....'. So, I wonder if 'pledges' is the right term, here!! I tend to veer towards 'charges', as this term is used by banks, etc. .The Bank lends you a certain amount to buy a, e.g. property and as a security the Bank takes a 'charge' on that property. So, with the present case, a lender takes charge of the Shares....with this agreement!!!