Rate Cap Pledge definition

Rate Cap Pledge means that certain Rate Cap Pledge and Security Agreement dated as of the date hereof between the Borrower, as pledgor, and the Administrative Agent, as pledgee.
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Examples of Rate Cap Pledge in a sentence

  • Each Borrower shall take all actions reasonably requested by Lender to enforce Lender’s rights under the Rate Cap Pledge and Security Agreement in the event of a default by the counterparty thereunder and shall not waive, amend or otherwise modify any of its rights thereunder without Lender’s reasonable consent (which consent may be conditioned on receipt of a Rating Agency Confirmation).

  • Borrower shall have provided the Rate Cap Agreement and the Rate Cap Pledge Agreement.

  • The Rate Cap Issuer shall have consented to the Rate Cap Pledge Agreement and acknowledged such pledge and security interest by executing a consent joinder attached to the Rate Cap Pledge Agreement.

  • Borrower shall take all actions reasonably requested by Lender to enforce Lender's rights under the Rate Cap Pledge and Security Agreement in the event of a default by the counterparty thereunder and shall not waive, amend or otherwise modify any of its rights thereunder without Lender's reasonable consent (which consent may be conditioned on receipt of a Rating Agency Confirmation).

  • In addition, Borrower shall provide (1) evidence satisfactory to Lender of payment in full of all costs and expenses of obtaining the Rate Cap Pledge Agreement and (2) and opinion of counsel to the Rate Cap Issuer satisfactory to Lender.

  • Borrower hereby regrants to Lender a security interest in and to (a) the collateral described in the granting clause of the Mortgage in full accordance with the provisions of the Mortgage, (b) the Cash Collateral, and (c) the Interest Rate Cap Pledge.

  • Borrower shall take all actions reasonably requested by Lender to enforce Lender’s rights under the Rate Cap Pledge and Security Agreement in the event of a default by the counterparty thereunder and shall not waive, amend or otherwise modify any of its rights thereunder without Lender’s consent, not to be unreasonably withheld or delayed (which consent may be conditioned on receipt of a Rating Agency Confirmation).

  • If Borrower elects not to so transfer the Interest Rate Cap Agreement, so long as the Buyer obtains a new interest rate cap agreement meeting the requirements of Section 4.27.1 hereof and pledges such new interest rate cap agreement to Lender pursuant to a pledge and security agreement in the form and substance of the Interest Rate Cap Pledge, Lender agrees to release the Interest Rate Cap Agreement from the lien of the Interest Rate Cap Pledge.