Cross-Pledge definition
Cross-Pledge means any pledge, mortgage, or grant of a security interest in or Lien on any of Guarantor’s present or future assets or property, whether real or personal, tangible or intangible, to secure payment or performance of any Other UTSI Group Debt.
Examples of Cross-Pledge in a sentence
Guarantor agrees to provide the Agent prompt written notice of the existence of (y) any Cross-Guaranty or Cross-Pledge and (z) any agreement, document, or instrument purportedly evidencing or constituting a Triggering Event Cure, accompanied in either case by a true and complete copy thereof.
Notwithstanding the foregoing or anything contained herein to the contrary, in no event shall the Cross-Pledge or Deed to Secure Debt, or any collateral other than the Security Agreement, be hereby released.