Pledged Proceeds definition

Pledged Proceeds has the meaning provided in Section 2 hereof.‌

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Pledged Proceeds shall have the same meaning as the term "proceeds" under the UCC or under other relevant law and, in any event, shall include, but not be limited to (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Collateral Agent or Grantor from time to time with respect to any of the Pledged Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to the Grantor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Pledged Collateral by any governmental authority (or any Person acting under color of governmental authority); (iii) any and all accounts, general intangibles, contract rights, inventory, equipment, money, drafts, instruments, deposit accounts, or other tangible and intangible property of the Grantor resulting from the sale (authorized or unauthorized) or other disposition of the Pledged Collateral, and any proceeds of such proceeds; (iv) any and all other amounts from time to time paid or payable under or in connection with any of the Pledged Collateral; and (v) proceeds from the sale, transfer, or other disposition of the Pledged Collateral by the Collateral Agent.

Pledged Proceeds the reference to any Proceeds which have been pledged pursuant to the Agreement.

Examples of Pledged Proceeds in a sentence

So long as no Event of Default has occurred and is continuing, all Net Cash Proceeds from any Permitted Debt Transaction (as defined below), but excluding amounts thereof invested in Category 3 Permitted Investments or deposited into the Pledged Proceeds Account, in either case in accordance with Section 2(f)(vi)(5) of this Amendment, shall, not later than five (5) Business Days following the applicable Loan Party’s receipt of such Net Cash Proceeds, be applied to Senior Debt Prepayments.
Notwithstanding the definition of “Unrestricted Cash and Cash Equivalents” in the Existing Credit Agreement, amounts on deposit in the Pledged Proceeds Account shall be deemed to qualify as Unrestricted Cash and Cash Equivalents during the Limited Waiver Period.
As a consequence, and until the occurrence of an Event of Default is notified to the Pledgor and the Bank Account Holder, the Pledgor shall be free to use the Pledged Proceeds as it sees fit.
Pledgor represents and warrants that none of the Pledged Proceeds is issued in the form of a Certificated Security and covenants and agrees that it shall not permit any Distributing Entity to convert existing Pledged Proceeds, or issue new Equity Interests, in the form of Certificated Securities.
Pledgor does not have outstanding any options or rights or other agreements to acquire or sell or otherwise transfer all or any portion of any Pledged Proceeds.
At any time prior to the occurrence and continuation of an Event of Default, as this term is defined in the Credit Agreement, the Pledgor is entitled to withdraw from the Pledged Bank Account and utilise any Pledged Proceeds related to the Pledged Securities.
So long as no Event of Default (as hereinafter defined) shall have occurred and be continuing, Pledgor shall be entitled to receive and retain any and all Pledged Proceeds, except distributions in connection with the redemption, liquidation or termination of the Pledged Interests or any part thereof.
In the event that the Event of Default described above is waived or remedied (in accordance with the terms of the Credit and Guaranty Agreement), the Pledged Proceeds shall, within seven (7) days of such waiver or remedy of the Event of Default, be credited by the Collateral Agent to an account nominated by the Pledgor, inclusive of all interest that has accrued on the Pledged Proceeds whilst in the Cash Account.
Pledgor owns the percentage of the Distributing Entity set forth in Schedule A with respect to the Pledged Proceeds.
Upon the occurrence and continuance of an Event of Default, all rights of Pledgor to receive payments of Pledged Proceeds shall automatically cease and all such rights shall thereupon become vested in the Lender, which shall have the sole and exclusive right and authority to receive and retain the payments of Pledged Proceeds.

More Definitions of Pledged Proceeds

Pledged Proceeds means, at any time, the Proceeds pledged under the Pledge and credited to the Pledged Bank Account in accordance with this Agreement.

Pledged Proceeds has the meaning given in PARAGRAPH 6C(3)(v).

Pledged Proceeds means any Cash Proceeds credited at any time to the Cash Account upon the occurrence of an Event of Default in respect of the Obligations.

Pledged Proceeds means the proceeds of the County’s Project General Obligation Bonds “Project” means the planning, designing, constructing and equipping a skilled nursing and