Maintenance of Pledged Collateral. (a) The Collateral Agent shall hold and segregate the Pledged Collateral in a separate account. (b) The Borrower shall cause the aggregate principal amount of Pledged Collateral at all times to be not less than 100% of the aggregate principal amount of the Bonds outstanding. (c) The Borrower shall cause the aggregate principal amount of the Pledged Collateral of Class B Members at all times to be not more than 30% of the total aggregate principal amount of the Pledged Collateral. (d) The Borrower shall not create, or permit to exist, any Lien that is secured by, or in any way attaches to, the Pledged Collateral, without the prior written consent of RUS.
Appears in 8 contracts
Samples: Pledge Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Pledge Agreement (National Rural Utilities Cooperative Finance Corp /Dc/), Pledge Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)
Maintenance of Pledged Collateral. (a1) The Collateral Agent shall hold and segregate the Pledged Collateral in a separate account.
(b2) The Borrower shall cause the aggregate principal amount of Pledged Collateral at all times to be not less than 100% of the aggregate principal amount of the Bonds outstanding.
(c3) The Borrower shall cause the aggregate principal amount of the Pledged Collateral of Class B Members at all times to be not more than 30% of the total aggregate principal amount of the Pledged Collateral.
(d4) The Borrower shall not create, or permit to exist, any Lien that is secured by, or in any way attaches to, the Pledged Collateral, without the prior written consent of RUS.
Appears in 1 contract
Samples: Pledge Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)
