Financial Pledge definition
Examples of Financial Pledge in a sentence
The Financial Pledge shall expire and be released on 31 December 2014, however the Financial Pledge shall automatically expire when the decision on entry of the Registered Pledge to the Register becomes final and binding.
The Pledgee shall have the right to enforce the Financial Pledge established under this Agreement immediately upon the occurrence of an Event of Default.
The Financial Pledge will become effective upon the delivery of the Shares to the Pledgee.
A Financial Pledge Agreement, on the basis whereof the Customer pledges to the Bank the Financial Collateral in accordance with the General Terms, shall be deemed to be concluded at the moment when the Customer agrees to the General Terms and they become binding upon the Customer.
The Pledgor must not exercise the Voting Rights in a way that would (i) be aimed to impair the value of the Shares or (ii) result in breach of any provision of the Indenture or (iii) prejudice the Registered Pledge or the Financial Pledge or (iv) interfere with the rights of the Pledgee under Clause 8.5 (Exercise of Voting Rights by Pledgee).
In the event the Customer does not fulfill its obligations to the Bank, the Bank may, in accordance with the procedure set by the Financial Pledge Agreement concluded between the Parties and without prior notification or applying to the court, overtake the funds or their part into its property in the amount of the unperformed secured obligations of the Customer and cover the loss.
The Customer undertakes to ensure the amount of funds on its Current Account required for making payments anticipated by the Agreement, with account of provisions of the Financial Pledge Agreement.
Dear Sirs, In accordance with Clause 5 (Distributions) and Clause 9 (Enforcement of Registered Pledge)/Clause 10 (Enforcement of Financial Pledge) of the Agreement, we give you notice that an Event of Default has occurred and we intend to enforce our rights under the Agreement [7 days after delivery of this notice to you / immediately].
Dear Sirs, Pursuant to Article 341 § 2 of the CCC, we hereby give you notice that, under the Agreement, we have pledged the Shares by way of a Financial Pledge and, subject to registration, a Registered Pledge.
As the amount of Secured Claims 1 is not yet determined, the Financial Pledge 1 is being established up to a maximum amount of security equal to PLN 600,000,000 (in words: six hundred million Polish zlotys).