Coupon Collateral definition
Examples of Coupon Collateral in a sentence
The Pledgor hereby covenants and agrees to take all actions that may be required by applicable law or as may be necessary to create for the benefit of the Collateral Agent a valid, first priority perfected security interest in, and a first lien upon, such Coupon Collateral, as to which, in the case of Investment Property, the Collateral Agent will have Control.
The Pledgor shall cause the Coupon Collateral to include cash and/or U.S. treasury securities equal to at least the remaining coupon payment value at all times, and shall pledge additional Coupon Collateral as necessary to cause such requirement to be met.
Notwithstanding anything to the contrary contained in this Agreement, the Coupon Collateral shall not be released to the Pledgor until there are no obligations outstanding under the Notes, the Indenture or this Agreement (including, without limitation, the payment in full of all Coupon Payments due and payable through and including the Maturity Date).
Such Coupon Collateral shall be held in the Collateral Account in a segregated sub-account and shall be used to pay to the Holders entitled to receipt thereof pursuant to the Indenture on each Coupon Payment Date and on the Maturity Date, the Coupon Payments due and payable on such date.