Examples of Pledged Securities in a sentence
Contemporaneously with the execution of this Agreement and at the time of the substitution or release of any of the Pledged Securities, the Bank shall execute and deliver to the District a memorandum describing the securities deposited to the Safekeeping Institution as Pledged Securities or withdrawn as Pledged Securities from the Safekeeping Institution.
The Safekeeping Institution named herein hereby agrees to hold all securities deposited with it pursuant to the terms of this Agreement, to identify the pledge of the securities on the books of the Safekeeping Institution, to issue a trust receipt for such Pledged Securities and to deliver the Pledged Securities in accordance with the terms hereof.
In the event of a default, failure or insolvency of the Bank, the District shall be deemed to have vested full title to all Pledged Securities.
The District is hereby empowered to take possession of and transfer or sell any and all Pledged Securities.
The Bank will place the Pledged Securities with Federal Home Loan Bank of Dallas (the “Safekeeping Institution”) for safekeeping.