Pledged Bonds. The Collateral Agent under the KGE Collateral Agreement shall have received the certificates representing the Pledged Bonds.
Pledged Bonds. Following the satisfaction of the Compensation payable by the Vendor for each relevant year during the first five years of the term of the Electricity Income Guarantee and in accordance with the terms of the Pledge Agreement, the Company shall release the Pledged Bonds gradually and annually in accordance with the table set out below: Year 2014 0000 0000 0000 0000 The principal RMB50,000,000 RMB50,000,000 RMB50,000,000 RMB7,000,000 RMB28,000,000 amount of the less the less the less the less the less the Pledged Bonds Compensation for Compensation for Compensation for Compensation for Compensation released which 2014 2015 2016 2017 for 2018 and (if is equivalent to applicable) less amount in RMB RMB21,000,000, in the event that the Vendor fails to pay the Pledged Sum pursuant to the Pledge Agreement For the avoidance of doubt, the Company shall not be obliged to release any of the Pledged Bonds until the Compensation for that relevant year has been fully settled. Return of the Pledged Sum Following the satisfaction of the Compensation payable by the Vendor for each relevant year during the remaining three years of the term of the Electricity Income Guarantee and in accordance with the terms of the Pledge Agreement, the Company shall return the Pledged Sum gradually and annually without interest in accordance with the table set out below: Year 2019 2020 2021 The principal amount of the Pledged Sum returned which is equivalent to amount in RMB RMB7,000,000 less the Compensation for 2019 RMB7,000,000 less the Compensation for 2020 RMB7,000,000 less the Compensation for 2021 For the avoidance of doubt, the Company shall not be obliged to return any of the Pledged Sum until the Compensation for that relevant year has been fully settled. The Company will publish announcements to inform Shareholders of the status of the issue of the Convertible Bonds, the Electricity Income Guarantee, the release of the Pledged Bonds and the return of the Pledged Sum in accordance with the disclosure requirements under the Listing Rules as and when required. For and on behalf of Goldpoly New Energy Holdings Limited Xxx Xx Fai Executive Director Hong Kong, 16 December 2013 In this announcement, the conversion of Hong Kong dollars into RMB is based on the exchange rate of HK$1 to RMB0.79413. As at the date of this announcement, the executive directors of the Company are Xx. Xxx Xx Xxx, Xx. Xx, Xxxx (Chief Executive Officer), Xx. Xx Xxxxxxx and Xx. Xxx Xx So; the non-executive direct...
Pledged Bonds. (A) Party B sells, disposes or otherwise transfers any of the Pledged Bonds (as such term is defined in the Specified Confirmations) or any interest therein (whether by way of security or otherwise), (B) Party B otherwise permits any lien, charge, adverse claim, security interest, mortgage or other encumbrance (other than the lien in favor of Party A) to be created on or extend to or otherwise arise upon or burden the Pledged Bonds or any part thereof, any interest therein or the proceeds thereof or (C) Party A otherwise ceases to have a first priority perfected security interest in all or any part of the Pledged Bonds, provided that if such cessation is a result of Party A’s gross negligence, willful misconduct or fraud, then Party A shall be the Affected Party for an event under this sub-clause (C). ”
Pledged Bonds. Party B hereby agrees to Transfer each Pledged Bond to Party A in accordance with the terms hereof and of the Specified Confirmations and grants to Party A, as the Secured Party, as security for its Obligations, a first priority continuing security interest in, lien on and right of Set-off against the Pledged Bonds.”
Pledged Bonds. 51 6.3.1 Pledge........................................................................... 51 6.3.2 Pledged Bond Payments............................................................ 51 6.3.3 Release of Pledged Bonds......................................................... 52 6.3.4
Pledged Bonds. (a) As additional security for the performance of its obligations under this Agreement, the Company hereby pledges, assigns, hypothecates and transfers to the Bank all of its right, title and interest in and to the Pledged Bonds, and does hereby grant to the Bank a security interest in the Pledged Bonds and all amounts payable thereon and the proceeds thereof.
Pledged Bonds. Any Pledged Bonds shall be for the benefit of the Issuing Lender and each other Lender that has acquired a participation in such Gables Bond Enhancement Letter of Credit as provided in this Agreement. Section 2.5
Pledged Bonds. Notwithstanding the above provisions of this Section 203 the Pledged Bonds shall bear interest at the Pledged Bond Rate during the period that such Bonds are Pledged Bonds. The Credit Enhancer shall use its best efforts to notify the Trustee on the Business Day preceding each Interest Payment Date in respect of such a period of the Pledged Bond Rate in effect from time to time during such period. The Credit Facility shall not be drawn on to pay any Pledged Bond.
Pledged Bonds. For the purposes of this Article VIII. Pledged Bonds shall not be deemed Outstanding under this Indenture until the payment in full of the principal of and interest on all other Bonds or the provision for the payment thereof shall have been duly made. In the event any vote or consent of the Bondowners is required hereunder, all Pledged Bonds shall be deemed Outstanding for such purpose hereunder and the Credit Enhancer shall be deemed the Owner thereof for purposes of voting or consenting thereto. [End of Article VIII]
Pledged Bonds. Beneficial interests in Bonds purchased as provided in this Article with proceeds of a drawing under the Letter of Credit or the Confirming Letter of Credit shall be registered on the records of the Securities Depository as provided in Section 4.06(b) above. The beneficial interests so pledged shall be released from the pledge as provided in the Reimbursement Agreement or any pledge agreement referenced therein; provided that they shall not be released unless the Trustee shall have received written direction from the L/C Bank or the Confirming Bank and evidence of corresponding reinstatement of the Letter of Credit or the Confirming Letter of Credit. The Remarketing Agent shall use its best efforts to remarket Pledged Bonds as provided in the Remarketing Agreement.
