Repledge Collateral definition
Examples of Repledge Collateral in a sentence
It is anticipated that in connection with the transactions contemplated by the Loan Documents, that (x) the Borrower is pledging the Repledge Collateral to the Lender subject to the Lien of CSFB and (y) Borrower hereby reaffirms such Lien and the Borrower and the Lender acknowledge and agree that their respective rights with respect to the Repledge Collateral are subject to the terms of the Security Agreement.
With respect to any Asset, Lender shall have received the original Participation Certificate registered into the name of the Lender or to the extent it relates to Repledge Collateral, in the name of CSFB.
For the avoidance of doubt, the foregoing indemnity includes, without limitation, any claims arising from or relating to the Repledge Collateral and the Master Spread Acquisition Agreement.
The Lender and Borrower each acknowledges that its rights under this Agreement are subordinate and junior to any rights of the CSFB under the CSFB Loan Documents and the Security Agreement with respect to any Repledge Collateral, including without limitation, any right that the Borrower may have to reacquire any Repledge Collateral hereunder.
In no event shall Borrower have any rights, claims or recourse against CSFB for any obligation of Lender hereunder or any actions on the part of CSFB with respect to any Repledge Collateral.
In furtherance of the foregoing, notwithstanding any rights or remedies available to Underlying Spread Counterparty with respect to the Repledge Collateral, such rights of the Underlying Spread Counterparty under the Underlying Spread Loan Agreement are solely against the Borrower and do not extend to the Lender.
The Buyer has agreed to enter into certain Transactions with Seller on account of the Repledge Collateral (the “Repledge Collateral Transactions”); provided that the Guarantor guarantees such Repledge Collateral Transactions.
Pursuant to the Loan and Security Agreement, dated as of April 30, 2015 (as amended, supplemented or otherwise modified from time to time, the “Underlying Spread Loan Agreement”), between Seller, in its capacity as lender thereunder, and PennyMac Holdings, LLC (the “Underlying Spread Counterparty”), Seller agreed from time to time to make loans to the Underlying Spread Counterparty secured by the Repledge Collateral (the “Underlying Loans”).
Pursuant to the Loan and Security Agreement, dated as of April 30, 2015 (as amended, supplemented or otherwise modified from time to time, the “Underlying Spread Loan Agreement”), between Borrower, in its capacity as lender thereunder, and PennyMac Holdings, LLC (the “Underlying Spread Counterparty”), Borrower has agreed from time to time to make loans to the Underlying Spread Counterparty secured by the Repledge Collateral (the “Underlying Loans”).
Seller’s agreement to make Underlying Loans to Underlying Spread Counterparty under the Underlying Spread Loan Agreement is subject, in part, to Buyer’s agreement to enter into Repledge Collateral Transactions.