FCX Pledge Agreements definition
Examples of FCX Pledge Agreements in a sentence
Each Bank hereby approves the termination and discharge of the FCX Pledge Agreements and the FCX Intercreditor Agreement and the release of the security interests created under the FCX Pledge Agreements and authorizes Chemical Bank in its capacity as FCX Collateral Agent to release the Collateral as provided above.
FCX shall not at any time directly or indirectly own shares of voting stock or interests having on a fully diluted basis less than 50.1% ownership interest in FI, which shares are pledged to the FCX Collateral Agent pursuant to the FCX Pledge Agreements (FCX hereby agreeing to cause additional shares of FI to be pledged to the FCX Collateral Agent as necessary to remain in full compliance at all times).
FCX shall own its interests in FI, free and clear of all Liens, except for the Liens of the FCX Pledge Agreements.
Without limiting the generality of the foregoing, the FCX Collateral Agent is hereby expressly authorized to execute any and all documents (including releases) with respect to the collateral under the FCX Pledge Agreements and the rights of the secured parties with respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the FCX Pledge Agreements.
By execution of this Agreement, the Lenders and the Issuing Banks acknowledge the provisions of Section 2 of each of the FCX Pledge Agreements, the Fourth Amended and Restated Fiduciary Transfer, the Fiduciary Assignment of Accounts, the Fourth Amended and Restated Lender Fiduciary Assignment and the Fiduciary Transfer of Joint Account Assets, and hereby authorize the Administrative Agent, Collateral Agent and Security Agent, as applicable, to accept such clauses on their behalf.
FCX has the power to execute, deliver and perform its obligations under this Agreement, the FM Intercreditor Agreement, the FCX Guaranty, the FCX Pledge Agreements and any other Loan Document executed and delivered or to be executed and delivered by it at any time, to guarantee the Loans pursuant to the FCX Guaranty and to countersign and accept the terms of the FCX Intercreditor Agreement.