Pledge Account. (a) Upon the closing of the offering of the Securities by the Company, the Company shall purchase, and deposit in the Pledge Account for the benefit of Holders and owners of beneficial ownership interests in the Notes, Pledged Securities in an amount which, in the opinion of an internationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, will result in the receipt of United States dollars in immediately available funds in an amount and at a time sufficient to provide for payment in full when due of the seven regularly scheduled interest payments due on the Notes from , 1999 through , 2002 upon receipt of scheduled principal and interest payments on the Pledged Securities.
Pledge Account. The Company shall, on the date hereof, enter into the Pledge Agreement, and pursuant thereto, shall purchase and pledge to the Trustee, for the benefit of the Holders of the Notes, the Pledged Securities, in such amount as will be sufficient upon receipt of scheduled interest and principal payments of such securities, in the opinion of a nationally recognized firm of independent public accountants selected by the Company (to be delivered promptly after the Closing Date), to provide for payment in full when due of the first six scheduled interest payments on the Notes. If for any reason the Pledged Securities, together with the other funds in the Pledge Account, shall not, in the opinion of such independent public accounting firm, be sufficient to provide for payment of such first six interest payments, the Company shall immediately pledge to the Trustee pursuant to the Pledge Agreement additional Pledged Securities or other funds in such amounts as shall be sufficient, in the opinion of such independent public accounting firm, to provide for payment in full of such interest payments, and shall promptly deliver an opinion from such accounting firm with regard thereto.
Pledge Account. 65 SECTION 4.25
Pledge Account. (a) On the Issue Date Seven Seas shall deposit in the Pledge Account, for the benefit of Holders and owners of beneficial ownership interests in the Notes, sufficient proceeds to purchase Pledged Securities in an amount which, in the opinion of an internationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, will result in the receipt of United States dollars in immediately available funds in an amount and at a time sufficient to provide for payment in full when due of the four regularly scheduled interest payments due on the Notes from November 15, 1999 through May 15, 2001 upon receipt of scheduled principal and interest payments on the Pledged Securities. Seven Seas shall contract for the purchase of the Pledged Securities with instructions for delivery to Trustee and provide such information to the Trustee; if for any reason the amount of proceeds deposited in the Pledge Account is insufficient to pay for the Pledged Securities and any associated costs, Seven Seas shall immediately provide to Trustee the necessary additional funds.
Pledge Account. The Pledge Account itself, all rights of the Grantor against the Securities Intermediary or any clearing broker for the Securities Intermediary in connection with the Pledge Account, and all securities, stocks, bonds, mutual fund shares, United States Treasury instruments and other investment property and financial assets now or hereafter reflected as maintained in the Pledge Account, together with any and all proceeds, replacements or substitutions therefore and including without limitation, the following types of assets maintained in the Pledge Account (collectively, the “Pledged Securities”):
Pledge Account. By not later than November 23, 2005 and at all time thereafter, the Borrower shall ensure that the Pledge Account is subject to an effective account control agreement in the form of Exhibit M hereto (or in such other form as may be reasonably approved by the Collateral Agent).
Pledge Account. (a) The Trustee has opened a collateral account (the “Pledge Account”) with , at its office at , Reference: “American Sea Foods Collateral”, Account No. , in the name, and under the sole control and dominion, of the Trustee and subject to the terms of this Indenture and the Intercompany Note.
Pledge Account. RFC from time to time may deposit funds of RFC into the Series 1997-1 Pledge Account to be held by the Collateral Agent as additional security for the payment and performance of RFC's obligations to the Secured Parties. If on any date a Borrowing Base Deficiency continues to exist after application of all Deposited Funds required to be applied on such date from the Series 1997-1 Collateral Account, the Series 1997-1 Termination Advance Account and the Series 1997-1 Liquidity Lender Account pursuant to Section 2.01 or 5.02 of the Collateral Agreement, as applicable, then amounts on deposit in the Series 1997-1 Pledge Account shall be applied to make payments on such date, in accordance with Section 5.01(e) of the Collateral Agreement, to the extent necessary to reduce such Borrowing Base Deficiency to zero.
Pledge Account. An account maintained by Pledge Agent with U.S. Bank National Association pursuant to the terms of the Pledge Agreement in which Borrower has directed that the proceeds of the Loan be deposited and from which Lender shall direct that Advances be made for payment of costs of construction of the Project, subject to strict compliance with the terms of this Agreement. The Pledge Account is numbered and is titled: .
