Examples of Cash Pledge Agreement in a sentence
Borrower's right to obtain such release, in the case of Aircraft Collateral, shall be subject to Borrower executing and delivering to Administrative Agent a Cash Pledge Agreement covering the Cash Collateral and Borrower, the Administrative Agent and Requisite Lenders reaching agreement regarding (i) the perfection, priority and valuation of the Cash Collateral; and (iii) the amendments to this Agreement necessary or appropriate in light of such substitution of collateral.
This Amendment shall be deemed effective upon (a) the due execution and delivery to Bank of this Amendment by each party hereto, (b) the due execution and delivery to Bank of the Cash Pledge Agreement by each party thereto, and (c) Borrower’s payment of Bank’s legal fees and expenses in connection with the negotiation and preparation of this Amendment.
Provided that no Event of Default has occurred and is continuing, if Borrower achieves the Cash Pledge Release Milestone, Bank will, at Borrower’s sole cost and expense, promptly release Bank’s security interest in the Pledged Account and terminate the Cash Pledge Agreement.
Xxxxxxx Title: CFO This Annex I to Bank Services Cash Pledge Agreement supplements the terms of that certain Bank Services Cash Pledge Agreement executed by SIENNA BIOPHARMACEUTICALS, INC., a Delaware corporation (“Applicant”) in favor of SILICON VALLEY BANK (“Bank”) dated as of June 29, 2018 (as amended from time to time, the “Pledge Agreement”).
No later than forty five (45) days after the Effective Date, Co-Borrowers shall deliver to Bank (i) the insurance endorsements required pursuant to Section 6.4 hereof and (ii) duly executed signatures to a Bank Services Cash Pledge Agreement and Rider to Bank Services Cash Pledge Agreement from each Co-Borrower.