Escrow Account Pledge definition

Escrow Account Pledge means the pledge over the Escrow Account, where the bank operating the account has waived any set-off rights.

Escrow Account Pledge means the first priority pledge over the Escrow Account in favour of the Bond Trustee (on behalf of itself and the Bondholders), where the bank operating the account has waived any set-off rights.

Escrow Account Pledge means the first priority pledge over the Escrow Account.

Examples of Escrow Account Pledge in a sentence

• Any proceeds received from an enforcement of the Escrow Account Pledge Agreement shall be distributed to the Bondholders only.

• The funds standing to the credit on the Escrow Account will be blocked and pledged by the Issuer in favour of the Noteholders under the Escrow Account Pledge Agreement.

• The Escrow Account will be blocked and pledged by the Issuer in favour of the Bondholders (represented by the Agent) under the Escrow Account Pledge Agreement.

• By its receipt of a Note, each Holder shall be deemed to authorize and direct the Trustee to enter into and perform its obligations under the Escrow Agreement and the Escrow Account Pledge Agreement.

• The Transaction Security provided under the Escrow Account Pledge Agreement shall be granted on or before the Issue Date and all other Transaction Security shall be granted on or about the Refinancing Date.

More Definitions of Escrow Account Pledge

Escrow Account Pledge means the first priority pledge over the Escrow Account granted by the Issuer in favour of the Trustee (on behalf of the Bondholders).

Escrow Account Pledge means a pledge over any Escrow Account opened after the date of this Bond Agreement, where the bank operating the account has waived any set-off rights and for which the Bond Trustee shall act as security agent.

Escrow Account Pledge means the first priority pledge over the Escrow Account in favour of the Bond Trustee (on behalf of the Bondholders holding Bonds other than the Temporary Bonds), where the bank operating the account has waived any set-off rights. The amount in the Escrow Account shall only be used, and the Issuer shall be entitled to withdraw amounts only for use, according to the purpose of the Initial Bond Issue or any Tap Issue.

Escrow Account Pledge means the pledge over the Escrow Account in favour of the Bond Trustee acting (on behalf of the Secured Parties) as security for the Secured Obligations, where the Account Bank has waived any set-off rights.

Escrow Account Pledge means the first priority pledge over the Escrow Account granted by the Issuer in favour of the Agent and the Bondholders (represented by the Agent).

Escrow Account Pledge means the pledge over the Escrow Account and all funds held on the Escrow Account from time to time, granted in favour of the Bond Trustee and the Bondholders, where the bank operating the account has waived any set-off rights.

Escrow Account Pledge means the first priority pledge over the Escrow Account, in favour of the Bond Trustee (on behalf of the Bondholders), where the Account Bank has waived any set-off rights, and which shall be blocked so that no withdrawals can be made from the Escrow Account without the Bond Trustee's prior written consent.