Gas Pledge Sample Clauses

Gas Pledge. 14.3.1 To the extent that the Storage User is the owner of the Natural Gas, the Storage User gives to the Storage Operator, in accordance with the provisions mentioned in attachment H1 of the Access Code for Storage, a quantity of Natural in Gas Pledge (the Pledged natural Gas) with a value equal to the average invoice amount of two (2) months (VAT included) calculated for the next Storage Year and with a remaining duration of not less thant thirty (30) Days. If the Service has a duration of less than thirty (30) days, the Storage User shall pay to the Storage Operator at the latest on the date of the Subscription of the Service, the expected invoice amount (VAT included). Any modification of the Storage User’s Subscribed Service(s), lower or higher, during the Storage Year covered by the Gas Pledge, shall automatically entail the adjustment of the quantity of the quantity of Pledged Natural Gas. The Storage Operator shall be entitled at any time during the Storage Year covered by the Gas Pledge to request Storage User to demonstrate within fifteen (15) Business Days after the notification by Storage Operator that the Pledged Natural Gas is in fact compliant with this Article 14 of this attachment. On a yearly basis and at the latest on the first day of the Storage Year and to the extent the Storage User has subscribed a Services Confirmation, the Storage User shall provide proof to the Storage Operator that the Pledged Natural Gas still complies with the requirements set in Article 14 of this attachment. The Gas Pledge shall at all times have a validity of at least two (2) Months after the expiry of the Service End Date, as specified in the relevant Services Confirmation.
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Related to Gas Pledge

  • Certain Pledges Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

  • Pledge As security for the payment or performance, as the case may be, in full of the Obligations, each Grantor hereby assigns and pledges to the Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, and hereby grants to the Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, a security interest in, all of such Grantor’s right, title and interest in, to and under (a)(i) the Equity Interests owned by such Grantor on the date hereof (including all such Equity Interests listed on Schedule II), (ii) any other Equity Interests obtained in the future by such Grantor and (iii) the certificates representing all such Equity Interests (all the foregoing collectively referred to herein as the “Pledged Stock”); provided, however, that the Pledged Stock shall not include (x) more than 66% of the issued and outstanding voting Equity Interests of any Foreign Subsidiary or (y) an Excluded Asset, (b)(i) the debt securities held by such Grantor on the date hereof (including all such debt securities listed opposite the name of such Grantor on Schedule II), (ii) any debt securities in the future issued to such Grantor and (iii) the promissory notes and any other instruments evidencing such debt securities (all the foregoing collectively referred to herein as the “Pledged Debt Securities”), (c) all other property that may be delivered to and held by the Collateral Agent pursuant to the terms of this Section 3.01, (d) subject to Section 3.06, all payments of principal or interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other Proceeds received in respect of, the securities referred to in clauses (a) and (b) above, (e) subject to Section 3.06, all rights and privileges of such Grantor with respect to the securities and other property referred to in clauses (a), (b), (c) and (d) above, and (f) all Proceeds of any of the foregoing (the items referred to in clauses (a) through (f) above being collectively referred to as the “Pledged Collateral”); provided, however, that notwithstanding any other provision in this agreement, this Section 3.01 shall not, at any time, constitute a grant of security interest in an Excluded Asset. TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or incidental thereto, unto the Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, forever; subject, however, to the terms, covenants and conditions hereinafter set forth.

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