Common use of Pledge upon Adjustment Event Clause in Contracts

Pledge upon Adjustment Event. Upon the occurrence of an Adjustment Event, the Pledgor shall immediately cause to be delivered to the Collateral Agent, in the manner provided in Section 6(d): (i) U.S. Government Securities or Cash Equivalents (other than cash) having an aggregate Market Value at least equal to 105% of the Cash Delivery Obligations, if any, or at Pledgor's election, U.S. dollars in an amount equal to at least 100% of the Cash Delivery Obligations, if any; and (ii) Reported Securities in an amount at least equal to the Maximum Deliverable Number thereof (if any), or, at Pledgor's election, U.S. Government Securities or Cash Equivalents having an aggregate Market Value at least equal to 150% of such Maximum Deliverable Number of Reported Securities; in each case to be held as substitute or additional Collateral hereunder.

Pledge upon Adjustment Event. Upon the occurrence of an Adjustment Event, the Pledgor shall immediately cause to be delivered to the Collateral Agent, in the manner provided in Section 6(d): (i) U.S. Government Securities or Cash Equivalents (other than cash) having an aggregate Market Value at least equal to 105% of the Cash Delivery Obligations, if any, or at Pledgor's election, U.S. dollars in an amount equal to at least 100% of the Cash Delivery Obligations, if any; and (ii) Reported Securities in an amount at least equal to the Maximum Deliverable Number thereof (if any), or, at Pledgor's election, cash or U.S. Government Securities or Cash Equivalents having an aggregate Market Value at least equal to 150% of such Maximum Deliverable Number of Reported Securities; in each case to be held as substitute or additional Collateral hereunder.