Examples of Pledged Security in a sentence
Prior to making such an assignment, the Fiscal Agent shall have received a No Adverse Effect Opinion with respect to such assignment of Pledged Security.
The Pledged Security so pledged and then or thereafter received by the Fiscal Agent shall immediately be subject to the lien of such pledge and security interest without any physical delivery thereof or further act, and the lien of such pledge and security interest shall be valid and binding and prior to the claims of any and all parties having claims of any kind in tort, contract or otherwise against the Governmental Lender irrespective of whether such parties have notice thereof.
All money required to be deposited with or paid to the Fiscal Agent for the account of any of the funds or accounts created by this Funding Loan Agreement shall be held by the Fiscal Agent for the benefit of the Funding Lender, and, except for money held in the Cost of Issuance Fund, the Administration Fund or the Rebate Fund, shall, while held by the Fiscal Agent, constitute part of the Pledged Security and be subject to the lien hereof.
The Indebtedness is secured by the Pledged Security pledged pursuant to the Funding Loan Agreement.
In the event of any conflict between the payment terms of the Project Note and this Governmental Note, the terms of the Project Note shall control, provided, however, that the Governmental Xxxxxx’s obligation hereunder shall be limited as set forth herein and payable solely from the Pledged Security.