Pledged Collateral definition
Examples of Pledged Collateral in a sentence
Pledgor shall at all times maintain Pledged Collateral having a Collateral Value of not less than the Required Coverage Amount.
So long as no Event of Default has occurred and is continuing, Pledgor may exercise voting rights with respect to the Pledged Shares in a manner not inconsistent with this Agreement and may retain ordinary cash dividends; provided that all stock dividends, stock splits, reclassifications, and other non-cash distributions on the Pledged Shares shall constitute Pledged Collateral and be delivered to the Escrow Agent.
If any payment applied to the Obligations is at any time rescinded, avoided, or must otherwise be restored or returned by Lender, whether upon the insolvency, bankruptcy, or reorganization of Borrower or otherwise, this Agreement and Guarantor’s obligations hereunder (including the pledge of the Pledged Collateral) shall be reinstated with respect to the amount so restored or returned as though such payment had not been made.
Upon the indefeasible payment and performance in full of all Obligations, Secured Party shall, at P▇▇▇▇▇▇’s expense, release the security interest in the Pledged Collateral, authorize the termination of any UCC financing statements, and instruct the Escrow Agent and Transfer Agent to release the Pledged Collateral to Pledgor and remove any related restrictive notations.
As security for the prompt and complete payment and performance of the Obligations and all of Guarantor’s obligations under this Agreement, Pledgor hereby pledges, assigns, and grants to Secured Party a continuing first-priority security interest in and lien upon all of Pledgor’s right, title, and interest in and to the Pledged Collateral, whether now owned or hereafter acquired and wherever located.