Pledge Value Requirement definition

Pledge Value Requirement means, as of any date, (a) the aggregate Market Value on such date of the Maximum Deliverable Number of shares of Common Stock on such date or, from and after a Reorganization Event, Marketable Securities, plus (b) from and after a Reorganization Event, the Cash Delivery Obligations.

Pledge Value Requirement means, as of any date, (a) the aggregate Market Value on such date of the Maximum Deliverable Number of shares of Class A Common Stock on such date or, from and after a Reorganization Event, the Maximum Deliverable Number of the Marketable Securities included in the Merger Consideration in such Reorganization Event, plus (b) from and after a Reorganization Event, the Cash Delivery Obligations, plus (c) from and after a Spin-Off Distribution, the Market Value on such date of the Maximum Deliverable Number of the Marketable Securities distributed in such Spin-Off Distribution.

Pledge Value Requirement means, as of any date, that the aggregate Then-Current Value as of such date of the Eligible Cash Equivalents delivered in pledge hereunder (other than, for the avoidance of doubt, the Eligible Cash Equivalents pledged pursuant to Section 6.1(b) of the Contract) equals or exceeds 150% of the aggregate Then-Current Value as of such date of the other items of Collateral for which such Eligible Cash Equivalents have been substituted.

Examples of Pledge Value Requirement in a sentence

• Such Collateral shall be released only after the Collateral Agent shall have determined that the aggregate Pledge Value of all of the Collateral remaining after such release as determined on such Business Day is at least equal to the Pledge Value Requirement.

• The Pledgor shall cause the aggregate Pledge Value of the Collateral to be equal to or greater than the Pledge Value Requirement at all times, and shall pledge additional Collateral in the manner described in Section 6(d) as necessary to cause such requirement to be met.

• Pledgor shall cause the aggregate Pledge Value of the Collateral to be equal to or greater than the Pledge Value Requirement at all times, and shall pledge additional Collateral in the manner described in Section 5.4 as necessary to cause such requirement to be met.

• If any such Event of Default or failure is no longer continuing, then the Collateral Agent shall remit any such payments that are so retained by, or paid to it, on the first Business Day after the Collateral Agent shall have received notice from the Trust that such Event of Default or failure is no longer continuing, unless the payment thereof to the Pledgor would reduce the aggregate Pledge Value of the Collateral below the Pledge Value Requirement.

• Unless an Event of Default or failure by Pledgor to meet any of its obligations under Article IV or V has occurred and is continuing, Pledgor shall be entitled to receive for its own account all dividends, interest and, if any, principal and premium relating to all of the Collateral, unless the payment of such amounts to Pledgor would reduce the aggregate Pledge Value of the Collateral below the Pledge Value Requirement.

More Definitions of Pledge Value Requirement

Pledge Value Requirement means, as of any date, (a) the aggregate Market Value on such date of the Maximum Deliverable Number of shares of Common Stock or, from and after an Adjustment Event, Reported Securities, on such date plus (b) from and after an Adjustment Event, the Cash Delivery Obligations plus (c) from and after [the Pledgor's] [Holdings'] extension of the Exchange Date pursuant to Section 1.3(f) of the [Holdings] Forward Contract, the aggregate Market Value on such date of the Additional Government Securities.

Pledge Value Requirement means, as of any date, (a) the aggregate Market Value on such date of the Maximum Deliverable Number of shares of Common Stock on such date or, from and after a Reorganization Event, the aggregate Market Value on such date of the Maximum Deliverable Number of the Marketable Securities included in the Merger Consideration in such Reorganization Event plus the Cash Delivery Obligations, plus (b) from and after a Spin-Off Distribution, the Market Value on such date of the Maximum Deliverable Number of the Marketable Securities distributed in such Spin-Off Distribution or, from and after a Reorganization Event with respect to the issuer of such spun-off Marketable Securities, the aggregate Market Value on such date of the Maximum Deliverable Number of the Marketable Securities included in the Merger Consideration in such Reorganization Event plus the Cash Delivery Obligations.

Pledge Value Requirement means, as of any date, that (a) in the case of Cash Settlement pursuant to Section 2.3(d) of the Contract, the amount of Cash delivered to the Collateral Agent in pledge pursuant hereto is at least equal to the amount of Cash required to be delivered in pledge on such date pursuant to Section 2.3(d) of the Contract, or (b) in case of the substitution of Eligible Cash Equivalents for other items of Collateral, the aggregate Then-Current Value as of such date of the Eligible Cash Equivalents delivered in pledge hereunder equal to or exceed 150% of the aggregate Then-Current Value as of such date of the other items of Collateral for which such Eligible Cash Equivalents have been substituted.

Pledge Value Requirement means, as of any date, (a) the aggregate Market Value on such date of the Maximum Deliverable Number of Ordinary Shares on such date or, from and after a Reorganization Event, the Maximum Deliverable Number of the Marketable Securities included in the Merger Consideration in such Reorganization Event (provided that when an adjustment in the Maximum Deliverable Number of Ordinary Shares occurs as the result of a Dilution Adjustment that, pursuant to the Contract, becomes effective prior to the date on which the event giving rise to the Dilution Adjustment is made public, the Pledge Value Requirement shall be adjusted as a result of such Dilution Adjustment effective as of the earlier of (x) the first Business Day following the public announcement of such event and (y) the first Business Day following the date on which Pledgor first becomes aware of such event or of the Company's intention to effectuate such event), plus (b) from and after a Reorganization Event, the Cash Delivery Obligations, plus (c) from and after a Spin-Off Distribution, the Market Value on such date of the Maximum Deliverable Number of the Marketable Securities distributed in such Spin-Off Distribution.

Pledge Value Requirement means, as of any date, (a) the aggregate Market Value on such date of the Maximum Deliverable Number of shares of Common Stock or, from

Pledge Value Requirement means, with respect to any Pledgor as of any date, the aggregate Market Value on such date of such Pledgor's Collateral Amount on such date.

Pledge Value Requirement means, as of any date, (a) the aggregate Market Value on such date of the Maximum Deliverable Number of shares of Common Stock or, from and after an Adjustment Event, Reported Securities, on such date PLUS (b) from and after an Adjustment Event, the Cash Delivery Obligations PLUS (c) from and after the extension of the Exchange Date pursuant to Section 1.3(f) of the Forward Purchase Agreement, the aggregate Market Value on such date of the Additional Government Securities.