Qualified Pledge definition

Qualified Pledge means a pledge or security interest that constitutes a valid, perfected, first priority pledge or security interest.
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Qualified Pledge means a bona fide pledge of Common Stock or other Equity Securities in connection with a secured borrowing transaction, the pledgee with respect to which is a financial institution in the business of engaging in secured lending and similar transactions which has entered into such transaction in the ordinary course of such business.
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Examples of Qualified Pledge in a sentence

  • Electroglas shall not permit the sum (without duplication of any item) of the Collateral held subject to a Qualified Pledge under and as defined in the Pledge Agreement, plus, to the extent unencumbered, the total of all cash, short term cash investments and marketable securities classified as short term investments according to GAAP of Electroglas and its Subsidiaries (determined on a consolidated basis) to be less than $40,000,000 prior to the first Business Day of July, 2000.

Related to Qualified Pledge

  • Unrestricted Global Note means a permanent Global Note, substantially in the form of Exhibit A attached hereto, that bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on behalf of and registered in the name of the Depositary, representing Notes that do not bear the Private Placement Legend.

  • securitisation special purpose entity or ‘SSPE’ means a corporation trust or other entity, other than an institution, organised for carrying out a securitisation or securitisations, the activities of which are limited to those appropriate to accom­ plishing that objective, the structure of which is intended to isolate the obligations of the SSPE from those of the originator institution, and in which the holders of the beneficial interests have the right to pledge or exchange those interests without restriction;

  • Restricted Global Note means a Global Note bearing the Private Placement Legend.

  • Qualified portfolio company means a company that (i) has its principal place of business in the

  • Holdings Pledge Agreement means the Holdings Pledge Agreement, dated as of the Closing Date, among Holdings and the Collateral Agent.

  • Permitted Securitization Financing means one or more transactions pursuant to which (i) Securitization Assets or interests therein are sold to or financed by one or more Special Purpose Securitization Subsidiaries, and (ii) such Special Purpose Securitization Subsidiaries finance their acquisition of such Securitization Assets or interests therein, or the financing thereof, by selling or borrowing against Securitization Assets and any Hedging Agreements entered into in connection with such Securitization Assets; provided, that recourse to the Borrower or any Subsidiary (other than the Special Purpose Securitization Subsidiaries) in connection with such transactions shall be limited to the extent customary (as determined by the Borrower in good faith in consultation with the Administrative Agent) for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true sale”/“absolute transfer” opinion with respect to any transfer by the Borrower or any Subsidiary (other than a Special Purpose Securitization Subsidiary)).

  • Special Purpose Vehicle means any special purpose funding vehicle identified as such in writing by any Lender to the Administrative Agent.