Pledged Portfolio definition
Examples of Pledged Portfolio in a sentence
No action, choice or absence of action in this respect, or partial enforcement, shall in any manner affect the Pledge created hereunder over the Pledged Portfolio, as it then shall be (and in particular those Shares which have not been subject to enforcement).
Subject to Clause 6 (Remedies upon Default), the Collateral Agent shall be entitled to request enforcement of all or part of the Pledged Portfolio in its most absolute discretion.
In furtherance of the foregoing, Pledgor shall further execute and deliver to Administrative Agent an ownership power in the form of Exhibit A attached hereto with respect to the ownership interest(s) of the Pledged Portfolio Entity owned by Pledgor that are represented by certificates or other instruments.
No amendment, modification, termination or waiver of any provision of this Agreement, or consent to any departure by Pledgor therefrom, shall in any event be effective without the written concurrence of Administrative Agent, the Pledged Portfolio Entity and Pledgor.
Subject to the terms of the Principal Finance Documents, neither the Collateral Agent, nor the Secured Parties or any of their agents shall be liable by reason of (a) taking any action permitted by this Pledge Agreement or (b) any neglect or default in connection with the Pledged Portfolio or (c) the realisation of all or any part of the Pledged Portfolio, except in the case of bad faith, gross negligence or wilful misconduct upon their part.
The Pledged Portfolio Entity hereby consents to the assignment of and grant of a security interest in the Collateral to Administrative Agent and to the exercise by Administrative Agent of all rights and powers assigned or delegated to Administrative Agent by Pledgor hereunder, including, without limitation, the rights upon and during an Event of Default to exercise Pledgor's voting rights and other rights under the Constituent Agreement to manage or control the Pledged Portfolio Entity.
Upon receipt of Treasury Securities from a Holder of Income PRIDES and the related instruction from the Purchase Contract Agent, the Collateral Agent shall release the Pledged Senior Notes or the Pledged Portfolio Interests, as the case may be, and shall promptly Transfer such Pledged Senior Notes or the appropriate Portfolio Interests, as the case may be, free and clear of any lien, pledge or security interest created hereby, to the Purchase Contract Agent.
If, pursuant to applicable law, prior notice of any such action is required to be given to Pledgor or the Pledged Portfolio Entity, Pledgor and the Pledged Portfolio Entity hereby acknowledge and agree that the minimum time required by such applicable law, or if no minimum is specified, of 10 Banking Days, shall be deemed a reasonable notice period.
This Agreement shall create a continuing pledge and assignment of and security interest in the Collateral and shall (a) remain in full force and effect until payment in full of the Obligations; (b) be binding upon the Pledged Portfolio Entity, Pledgor, and their respective successors and assigns; and (c) inure, together with the rights and remedies of Administrative Agent, to the benefit of Administrative Agent, the Banks and their respective successors, transferees and assigns.
No prior security held by any Secured Party over the whole or any part of the Pledged Portfolio shall merge into the Security.