Agency Securities. In producing the Borrowing Base Report, the Collateral Agent (and the Custodian in furnishing any Market Values therefor) shall not be required to consider or recognize any reduction in the principal amount of any Agency Securities held as Collateral until after the Collateral Agent has received written notice (including electronic communications) of such reduction by or behalf of the issuer of such Agency Securities.
Appears in 4 contracts
Samples: Pledge and Security Agreement (Endurance Specialty Holdings LTD), Pledge and Security Agreement (Endurance Specialty Holdings LTD), Pledge and Security Agreement (Endurance Specialty Holdings LTD)
