Examples of Accounts Pledge in a sentence
Any funds distributed by the Trustee to the Bondholders in accordance with the Bank Accounts Pledge Agreement shall be deemed to be paid by the Issuer for the redemption under this paragraph (d).
The payment of the Net Proceeds into the Bank Accounts is subject to the Trustee having received (i) duly executed Terms and Conditions, and (ii) a duly executed copy of the Bank Accounts Pledge Agreement, including evidence of perfection of the Security over the Bank Accounts.
The subscription or purchase of Covered Bonds results by force of law in the (i) acceptance that all the Beneficiaries will benefit pari passu from the first-ranking security provided under the Issuer Accounts Pledge Agreement and any Issuer Accounts Pledge Agreement Deed of Retake and (ii) appointment of the Issuer Security Agent as agent in order to manage the said security in their name and on their behalf.
The Net Proceeds shall be paid into the Escrow Account, provided that the Trustee has received documents and evidence of the Accounts Pledge Agreement having been executed and perfected.
THE ISSUER SECURITY The Issuer Security is the first-ranking pledge of the Issuer Accounts granted pursuant to the Issuer Accounts Pledge Agreement and the first-ranking pledge of the Borrower Facility Receivables granted pursuant to the Issuer Receivables Pledge Agreement (the "Issuer Security").