Pledge Value Requirement Clause Samples
The Pledge Value Requirement clause sets a minimum value that must be maintained for pledged assets under an agreement. In practice, this means that the party providing collateral must ensure the value of their pledged assets does not fall below a specified threshold, which may be periodically reviewed or adjusted based on market conditions. This clause serves to protect the secured party by ensuring sufficient collateral is always available to cover potential losses, thereby reducing credit risk and maintaining the integrity of the agreement.
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Pledge Value Requirement. The Pledgor shall cause the aggregate Pledge Value of the Collateral to be equal to or greater than the Pledge Value Requirement at all times, and shall pledge additional Collateral in the manner described in Section 6(d) as necessary to cause such requirement to be met.
Pledge Value Requirement. The Collateral Agent agrees to remit to the Pledgor on the Business Day received or the first Business Day thereafter all such payments received by it. If an Event of Default or failure by the Pledgor to meet any of its obligations under Section 5(b) or (c) hereof has occurred and is continuing, all such payments made or accrued after and during the continuance of such default or failure shall be retained by the Collateral Agent, and any such payments which are received by the Pledgor shall be received in trust for the benefit of the Trust, shall be segregated from other funds of the Pledgor and shall forthwith be paid over to the Collateral Agent. Any such payments so retained by, or paid over to, the Collateral Agent shall be held by the Collateral Agent as Collateral hereunder.
Pledge Value Requirement. The Collateral Agent agrees to remit to the Pledgor on the Business Day received or the first Business Day thereafter all such payments received by it. If an Event of Default or failure by the Pledgor to meet any of its obligations under Section 5(b) or (c) hereof has occurred and is continuing, all such payments made or accrued after and during the continuance of such Event of Default or failure shall be retained by the Collateral Agent, and any such payments which are received by the Pledgor shall be received in trust for the benefit of the Trust, shall be segregated from other funds of the Pledgor and shall forthwith be paid over to the Collateral Agent. Any such payments so retained by, or paid over to, the Collateral Agent shall be held by the Collateral Agent as Collateral hereunder. If any such Event of Default or failure is no longer continuing, then the Collateral Agent shall remit any such payments that are so retained by, or paid to it, on the first Business Day after the Collateral Agent shall have received notice from the Trust that such Event of Default or failure is no longer continuing, unless the payment thereof to the Pledgor would reduce the aggregate Pledge Value of the Collateral below the Pledge Value Requirement.
Pledge Value Requirement. If Pledgor elects to substitute Eligible Cash Equivalents for any item of Collateral (excluding, for the avoidance of doubt, any delivery of Eligible Cash Equivalents in exchange for options, rights or warrants in accordance with Section 6.1(b) of the Contract), it shall, cause the aggregate Pledge Value of the Collateral to be equal to or greater than the Pledge Value Requirement at all times (subject to the time periods provided for in Section 5.5) following such election, and shall pledge additional collateral in the manner described in Section 5.4 as necessary to cause such Pledge Value Requirement to be satisfied.
Pledge Value Requirement. If Pledgor elects Cash Settlement pursuant to Section 2.3(d) of the Contract or elects to substitute Eligible Cash Equivalents for any item of Collateral, Pledgor shall cause the aggregate Pledge Value of the Collateral to be equal to or greater than the Pledge Value Requirement at all times (subject to the time periods provided for in Section 5.5) following such election, and shall pledge additional Collateral in the manner described in Section 5.4 as necessary to cause such Pledge Value Requirement to be satisfied.
Pledge Value Requirement. Unless the Collateral includes Common Stock, Marketable Equity Securities and/or Transferable Exchangeable Securities in each case in an amount at least equal to the Maximum Deliverable Number thereof and cash in an amount at least equal to the sum of all Cash Delivery Obligations (if any), the Pledgor shall cause the aggregate Pledge Value of the Collateral to be equal to or greater than the Pledge Value Requirement at all times, and shall pledge additional Collateral in the manner described in Section 6(d) as necessary to cause such requirement to be met.