PLEDGE, MORTGAGE OR CHARGE AS COLLATERAL. FOR A LOAN Subject to Exchange acceptance, you may pledge, mortgage or charge your escrow securities to a financial institution as collateral for a loan, provided that no escrow securities or any share certificates or other evidence of escrow securities will be transferred or delivered by the Escrow Agent to the financial institution for this purpose. The loan agreement must provide that the escrow securities will remain in escrow if the lender realizes on the escrow securities to satisfy the loan.
Appears in 3 contracts
Samples: Escrow Agreement (Centrasia Mining Corp.), Escrow Agreement (LMS Medical Systems Inc), Escrow Agreement (Centrasia Mining Corp.)
PLEDGE, MORTGAGE OR CHARGE AS COLLATERAL. FOR A LOAN LOAN. Subject to Exchange acceptance, you may pledge, mortgage or charge your escrow securities to a financial institution as collateral for a loan, provided that no escrow securities or any share certificates or other evidence of escrow securities will be transferred or delivered by the Escrow Agent to the financial institution for this purpose. The loan agreement must provide that the escrow securities will remain in escrow if the lender realizes on the escrow securities to satisfy the loan.
Appears in 2 contracts
Samples: Escrow Agreement (TLC Ventures Corp), Escrow Agreement (TLC Ventures Corp)
