Examples of Pledge Agreements in a sentence
Consequently, in order to secure the valid creation of the pledges under the Pledge Agreements in favour of the Security Trustee, the Issuer has in the Parallel Debt Agreement, as a separate and independent obligation, by way of parallel debt, undertaken to pay to the Security Trustee amounts equal to the amounts due by it to the Secured Creditors.
On the Signing Date, the Issuer and the Security Trustee will, among others, enter into the Parallel Debt Agreement for the benefit of the Secured Creditors under which the Issuer shall, by way of parallel debt, undertake to pay to the Security Trustee amounts equal to the amounts due by it to the Secured Creditors, in order to create a claim of the Security Trustee thereunder which can be validly secured by the rights of pledge created by the Pledge Agreements.
The statements in these Conditions include summaries of, and are subject to, the detailed provisions of (i) the Trust Agreement, which will include the forms of the Notes and Coupons, and the Temporary Global Notes and the Permanent Global Notes, (ii) the Paying Agency Agreement, (iii) the Parallel Debt Agreement and (iv) the Pledge Agreements.
In addition, the Security Trustee has agreed to act as security trustee vis-à-vis the other Secured Creditors and to pay to such Secured Creditors any amounts received from the Issuer or amounts collected by the Security Trustee under the Pledge Agreements subject to and pursuant to the Trust Agreement and subject to and in accordance with the Post-Enforcement Priority of Payments.
Effectiveness of the rights of pledge granted to the Security Trustee in case of insolvency of the Issuer The security interests granted to the Security Trustee Under or pursuant to the Pledge Agreements, various security interests will be granted by the Issuer to the Security Trustee.