Full Pledge definition
Full Pledge means the pledge to be created over the shares representing 49% of PEPASA’s capital stock under the Stock Pledge Agreement in order for the Borrower to request the disbursement of (i) the Loan for the Total Commitment, or (ii) the Tranche B Loan. The Full Pledge shall terminate on the date that the YPF Participation is transferred in accordance with the Assignment Agreement.
Examples of Full Pledge in a sentence
For the avoidance of doubt, no fees, expenses or indemnities payable to U.S. Bank National Association by the Specified Partnerships shall constitute Administrative Expenses hereunder or otherwise be payable by any Credit Party hereunder unless in the case of any Specified Partnership Full Pledge Documents shall have been delivered with respect to such Specified Partnership (and, in such case, such amounts shall be treated as Administrative Expenses).