This Stock Pledge Agreement (Short Form) is used by a debtor to promise to pledge equity interests for the collateral package in a secured financing transaction. This form is structured as a letter agreement. This form includes practical guidance, drafting notes, and optional clauses.The short form pledge agreement may be appropriate for use in a in a non-syndicated transaction and in a transaction where the value of the pledged collateral is not material. In contrast, see the standard long form Pledge Agreement. The short form can reduce negotiation time and cost. The parties should indicate the controlling state version of the Uniform Commercial Code (UCC). Read in conjunction with the practice notes Selecting Form Security Documentation, Pledge Agreements, and Perfecting Security Interests by Possession, Filing, and Control. Also refer to Security Interests Resource Kit for forms that can be used in conjunction with this short form pledge agreement.