Pledge Assignment definition
Examples of Pledge Assignment in a sentence
EXECUTED as of the date first stated in this Pledge, Assignment, and Security Agreement.
The Company will take, and will cause its Subsidiaries to take any and all actions reasonably required to cause the Pledge, Assignment and Security Agreement to create and maintain, as security for the Obligations, a valid and enforceable perfected first priority lien in and on all the Collateral, in favor of the Trustee for the benefit of itself and the Holders, superior to and prior to the rights of all third Persons and subject to no other liens.
The Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Pledge, Assignment and Security Agreement, and to make further distributions of such funds to the Holders according to the provisions of this Indenture.
Upon the indefeasible payment in full and discharge of all Obligations of the Company under this Indenture, the Notes and the other Notes Escrow Documents, the Trustee will, at the request and expense of the Company, release the liens pursuant to this Indenture and the Pledge, Assignment and Security Agreement.
Neither the Borrower nor CDOT is in default (and no event has occurred and is continuing that, with the giving of notice or the passage of time or both, could constitute a default) with respect to any Governmental Approval, which default could reasonably be expected to result in a Material Adverse Effect.
Each Holder, by its acceptance thereof, consents and agrees to the terms of the Pledge, Assignment and Security Agreement (including, without limitation, the provisions providing for foreclosure of Collateral) as the same may be in effect or may be amended from time to time in accordance with its terms and authorizes and directs the Trustee to enter into the Pledge, Assignment and Security Agreement and to perform its obligations and exercise its rights thereunder in accordance therewith.
The due and punctual payment of the principal of the Notes, when and as the same shall be due and payable, are secured as provided in the Pledge, Assignment and Security Agreement which the Company has entered into simultaneously with the execution of this Indenture and which is attached as Exhibit C hereto.
As a condition to the Loan, the Borrower shall enter into a Pledge, Assignment and Security Agreement in substantially the form attached hereto as Exhibit B (the “Pledge Agreement”), which Pledge Agreement shall be dated as of the Effective Date.
Contemporaneously with the execution of this Agreement, CTMGT and Centamtar Terras shall execute and deliver to Lender a Pledge Agreement, an Assignment of Distributions and a Pledge Assignment for all of the membership interests in Borrower, and all such other agreements, certificates, resolutions, security instruments, amendments, modifications, and supplements as Lender requires, all in forms approved by Lender in its sole discretion.
Grantors and Secured Party are party to that certain Pledge, Assignment, and Security Agreement dated as of June 26, 2009 (the “Existing Security Agreement”).