Accounts Pledge definition

Accounts Pledge means a deed creating security in respect of the Operating Account and the Retention Account in such form as the Lender may approve or require;

Accounts Pledge means, in respect of each Account, a pledge agreement creating security in respect of that Account, in the Agreed Form, and in the plural means all of them;

Accounts Pledge means in relation to each Earnings Account, a deed creating security in respect of the Earnings Account to be executed by the relevant Borrower in favour of all of the Creditor Parties in the Agreed Form and in the plural means both of them;

Examples of Accounts Pledge in a sentence

• Any funds distributed by the Trustee to the Bondholders in accordance with the Bank Accounts Pledge Agreement shall be deemed to be paid by the Issuer for the redemption under this paragraph (d).

• The payment of the Net Proceeds into the Bank Accounts is subject to the Trustee having received (i) duly executed Terms and Conditions, and (ii) a duly executed copy of the Bank Accounts Pledge Agreement, including evidence of perfection of the Security over the Bank Accounts.

• THE ISSUER SECURITY The Issuer Security is the first-ranking pledge of the Issuer Accounts granted pursuant to the Issuer Accounts Pledge Agreement and the first-ranking pledge of the Borrower Facility Receivables granted pursuant to the Issuer Receivables Pledge Agreement (the "Issuer Security").

• The Net Proceeds shall be paid into the Escrow Account, provided that the Trustee has received documents and evidence of the Accounts Pledge Agreement having been executed and perfected.

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More Definitions of Accounts Pledge

Accounts Pledge means a pledge in respect of each Earnings Account and the Retention Account, required to be executed hereunder between the Borrowers and the Security Trustee in such form as the Agent and the Majority Lenders may require in their sole discretion;

Accounts Pledge means the agreement for Security over the funds standing to the credit on the Escrow Account, the Interest Retention Accounts and the Blocked Account, entered into between the Issuer and the Trustee, where the bank operating the accounts has waived any set-off rights.

Accounts Pledge means a pledge of the Earnings Account and the Retention Account in such form as the Lender may require;

Accounts Pledge means a first priority charge required to be executed hereunder between the Borrower and the Security Trustee in respect of the Earnings Account, the Retention Account and the Drydock Reserve Account in such form as the Agent and the Majority Lenders may require in their sole discretion;

Accounts Pledge means a deed creating security in respect of the Earnings Account and the Retention Account, to be in favour of the Lender, in such form as the Lender may approve or require;

Accounts Pledge means the accounts pledge agreement in the Agreed Form between the Borrower, the Account Bank and the Security Trustee pursuant to which the Borrower pledges to the Security Trustee its rights in respect of the Liquidity Reserve Account and the Collection Account.

Accounts Pledge means the Dutch deed of pledge (“eerst pandrecht”) in relation to the Project Account, the Proceeds Account, the Earnings Account and the Debt Service Reserve Account executed or, as the context may require, to be executed by the Account Bank, the Borrower and the Head Charterer in favour of the Security Trustee as pledgee, in the Agreed Form;