PDGL definition
Examples of PDGL in a sentence
PDGL hereby agrees to establish, on or before the second Business Day before the Initial Extension of Credit Date, a foreign exchange cash collateral account in the name of PDGL and maintained by the Administrative Agent pursuant to the FX Cash Collateral Agreement over which the Administrative Agent shall have sole dominion and control (the “FX Cash Collateral Account”) in U.S. Dollars, upon terms substantially set forth in such FX Cash Collateral Agreement.
Upon written request of PDGL to the Administrative Agent and the Issuing Bank given at least thirty (30) days prior to the then-scheduled expiry date of a Letter of Credit, the Administrative Agent shall return to PDGL all amounts remaining in such cash collateral account relating to such Letter of Credit following expiry of such Letter of Credit and its return to the Issuing Bank, provided no Default or Event of Default has occurred and is then continuing.
PDGL and Citibank wish to terminate the Pledge and QPIL wishes to terminate the Guaranty, all on the terms set forth herein.
Upon written request of PDGL to the Administrative Agent and the Issuing Bank given at least thirty (30) days prior to the then-scheduled expiry date of the Letter of Credit, the Administrative Agent shall return all amounts remaining in such cash collateral account to PDGL following expiry of the Letter of Credit and its return to the Issuing Bank, provided no Default or Event of Default has occurred and is then continuing.
PDGL and SCB are parties to that certain Assignment of Cash Collateral Account dated as of December 6, 2011, (as amended, modified or supplemented, the “Cash Collateral Agreement”), pursuant to which PDGL pledged and granted to SCB a security interest in all of its right, title and interest in, to and under the Collateral (as defined therein) as security for the Obligations (as defined therein).
Effective as of the Effective Time, Citibank hereby discharges and terminates, cancels and re-assigns to each of PDGL and QPIL, as the case may be, its security interest, liens and assignments in, and releases (without further action and without recourse, representation and warranty), whether express or implied, any lien upon all right, title and interest of Citibank in, to and under the Transaction Documents.
PDGL may, at the time of issuance or any renewal of a Letter of Credit, deposit in a cash collateral account of PDGL held by the Administrative Agent for the sole benefit of the Issuing Bank all or any portion of the face amount of each Letter of Credit in an amount equal to 105% of the portion so collateralized.
PDGL and Citibank are parties to that certain Pledge Agreement dated as of June 27, 2011 (as amended, modified or supplemented, the “Pledge”), pursuant to which PDGL pledged and granted to Citibank a security interest in all of its right, title and interest in, to and under the Collateral (as defined therein) as security for PDGL’s obligations in connection with each Application (as defined therein) and for reimbursement of amounts drawn under any Letters of Credit issued by Citibank.
PSS has an authorized share capital divided into 20,000 ordinary registered shares of $1.00 each, all of which shares have been issued and fully paid, and the legal title and beneficial ownership of all those shares is held, free of any Security Interest or other claim by PDGL.
Effective as of the Effective Time, SCB shall immediately release any Collateral (as defined in the Cash Collateral Agreement) and return it to PDGL.