Examples of Pledged Property in a sentence
The Governmental Agency covenants and agrees to exercise its best efforts in accordance with prudent wastewater utility practice to complete the Project and to provide from the Pledged Property or other sources available to it all moneys, in excess of the total amount of loan proceeds it receives under the Loan, required to complete the Project.
The Loan Repayments and all other payments required hereunder are payable solely from the Pledged Property.
Wherever it is mentioned herein that the Property and/or the Pledged Property shall be used to secure the Borrower's obligations pursuant hereto - such shall also include Future Credit, in respect of which it has been agreed with the Borrower in a written document that it shall be secured by the Property and/or the Pledged Property, which shall for all intents and purposes constitute part of the Secured Amounts.
The Property and/or the Pledged Property shall also serve as collateral for Future Credit as aforesaid without it being necessary to obtain further consent thereto from the Borrower and/or the Pledgor, without the Borrower and/or the Pledgor having to sign any other document and including without the Pledgor having to sign the Future Credit documents.
The Agency shall dispose of the Pledged Property (other than the Pledged Property known as “California Theater – 000 X.