Creation of Pledge. (a) In the event that the First Priority Obligations are duly performed and indefeasibly satisfied, and due to such performance the Pledged Equity Interest is released by the First Priority Collateral Trustee pursuant to the terms of the First Priority Pledge Agreement and the First Priority Pledge Agreement ceases to be in force and effect (the “Condition Precedent”), this agreement shall become effective and in full force and effect.
Appears in 3 contracts
Samples: Equity Interest Pledge Agreement (Satelites Mexicanos Sa De Cv), Equity Interest Pledge Agreement (Satelites Mexicanos Sa De Cv), Equity Interest Pledge Agreement (Satelites Mexicanos Sa De Cv)
Creation of Pledge. (a) In the event that the First Priority Obligations are duly performed and indefeasibly satisfied, and due to such performance the Pledged Equity Interest is Assets are released by the First Priority Collateral Trustee pursuant to the terms of the First Priority Floating Pledge Agreement and the such First Priority Floating Pledge Agreement ceases to be in force and effect (the “Condition Precedent”), the floating lien pledge and security interest provided by this agreement Agreement shall become effective and in full force and effect.
Appears in 2 contracts
Samples: Floating Lien Pledge Agreement (Satelites Mexicanos Sa De Cv), Floating Lien Pledge Agreement (Satelites Mexicanos Sa De Cv)
