De-Pledge definition
De-Pledge means the partial release, re-assignment and/or re-delivery by Seattle Bank or its approved custodian of any part of the Collateral pledged to Seattle Bank for Indebtedness.
Examples of De-Pledge in a sentence
Upon a De-Pledge, ordinarily the Seattle Bank will not agree to amend its financing statements covering Collateral to reflect the De-Pledge but will, where appropriate and at Customer’s expense, evidence that it has released the Collateral that was subject to the De-Pledge from its security interest.