Escrow Account Pledge definition

Escrow Account Pledge means the pledge over the Escrow Account, where the bank operating the account has waived any set-off rights.
Escrow Account Pledge means the first priority pledge over the Escrow Account in favour of the Bond Trustee (on behalf of itself and the Bondholders), where the bank operating the account has waived any set-off rights.
Escrow Account Pledge means the first priority pledge over the Escrow Account.

Examples of Escrow Account Pledge in a sentence

  • The Existing Bonds Escrow Account shall be pledged on first priority in favour of the Bond Trustee (on behalf of the Bondholders) under the Existing Bonds Escrow Account Pledge, and be blocked so that no withdrawals can be made therefrom without the Bond Trustee's prior written consent.

  • The Transaction Security shall constitute a joint first priority Security securing the Secured Obligations as set out in the Intercreditor Agreement (with the exception of the Escrow Account Pledge and the VPS Account Pledge which will only secure the Bonds).


More Definitions of Escrow Account Pledge

Escrow Account Pledge means the pledge over the Escrow Account, pledged in favour of the Bond Trustee (on behalf of the Bondholders, except holders of Temporary Bonds), where the bank operating the account has waived any set-off rights.
Escrow Account Pledge means the first priority pledge over the Escrow Account in favour of the Bond Trustee (on behalf of the Bondholders holding Bonds other than the Temporary Bonds), where the bank operating the account has waived any set-off rights. The amount in the Escrow Account shall only be used, and the Issuer shall be entitled to withdraw amounts only for use, according to the purpose of the Initial Bond Issue or any Tap Issue.
Escrow Account Pledge means the pledge over the Escrow Account and all funds held on the Escrow Account from time to time, granted in favour of the Bond Trustee and the Bondholders, where the bank operating the account has waived any set-off rights.
Escrow Account Pledge means the pledge agreement entered into between the Issuer and the Bond Trustee (on behalf of the Bondholders) on or about the Issue Date in respect of a first priority pledge over the Escrow Account and all funds held on the Escrow Account from time to time, granted in favour of the Bond Trustee on behalf of itself and the Bondholders, and where the bank operating the Escrow Account has waived any set-off rights.
Escrow Account Pledge means the first priority pledge over the Issuer's claim against the bank for the amount from time to time standing to the credit of the Issuer in the Escrow Account, where the bank operating the account has waived any set-off rights.