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.
Appears in 3 contracts
Sources: Collateral Agreement (2017 Mandatory Exchangeable Trust), Collateral Agreement (2017 Mandatory Exchangeable Trust), Collateral Agreement (2017 Mandatory Exchangeable Trust)