Pledge Agreement definition
Examples of Pledge Agreement in a sentence
Upon an “Event of Default” (as defined under the Pledge Agreement), the Secured Party may deliver to the Issuer written notice that it is exercising exclusive control over the Securities (a “Notice of Exclusive Control”).
In particular, the Issuer need not investigate whether the Secured Party is entitled under the Pledge Agreement or otherwise to give an instruction or Notice of Exclusive Control.
Grantor and Secured Party hereby agree that, notwithstanding references to the Pledge Agreement in this Agreement, Issuer has no duty, responsibility or obligation with respect to the Pledge Agreement, including without limitation, no duty, responsibility or obligation to monitor Grantor’s or Secured Party’s compliance with the Pledge Agreement or to know the terms of the Pledge Agreement.
This Note and the obligations evidenced hereby are secured by the Collateral described in the Pledge Agreement and are entitled to the benefits of the Pledge Agreement.
Until all Obligations have been fully repaid and this Agreement has terminated, the Bank shall retain its security interest in all Collateral, then existing or arising thereafter, pledged to the Bank pursuant to the Pledge Agreement.