Mexican Pledge definition

Mexican Pledge means the pledge by Tenedora Agnico Eagle Mexico S.A. de C.V. of the common shares of Agnico Eagle Mexico, S.A. de C.V. to Agnico-Eagle Mines Mexico Cooperatie U.A. to secure an interest-bearing loan made by Agnico-Eagle Mines Mexico Cooperatie U.A. to Agnico Eagle Mexico, S.A. de C.V.

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Mexican Pledge means the prenda created on the Term Loan Priority Collateral pursuant to the Mexican Stock Pledge Agreement.

Examples of Mexican Pledge in a sentence

The Mexican Pledge has been duly authorized, executed and delivered by each party thereto.
That each of the parties to the Mexican Pledge (i) is duly organized and validly existing; and (ii) has the requisite power and authority to enter into and to perform under the Mexican Pledge.
The absence of any judgment, injunction, relief or other order from any judicial, administrative or other authority conditioning, restricting or otherwise limiting the ability of each party to enter into and perform under the Mexican Pledge.
There is no tax, deduction or withholding, or stamp duties or similar taxes, imposed by Mexico, on or by virtue of the execution or performance of the Pledgor of its obligations under the Mexican Pledge; provided however, that (i) foreclosure or liquidation of the Pledges Shares or (ii) payment of interest with proceeds therefrom, may be subject to taxation in Mexico.
We express no opinion with respect to Paragraph (e) of Clause Seventh of the Mexican Pledge.
We express no opinion on Clause Third or any other provision of the Mexican Pledge that limits Pledgee’s responsibility to exercise all rights under the Pledged Shares.
The obligations of Pledgor under the Mexican Pledge constitute legal, valid and binding obligations of Pledgor, enforceable against Pledgor in accordance with their terms.
The Term Loan Representative shall act as pledgee under the Mexican Pledge on behalf and for the benefit of the Secured Parties, for which purpose the ABL Representative on behalf of each ABL Secured Party hereby grants in favor of the Term Loan Representative a mercantile agency (comisión mercantil) pursuant to Article 273 et.seq.
The legality, validity, enforceability and binding effect of the Mexican Pledge is dependant upon the legality, validity, enforceability and binding effect of the Secured Obligations.
Within forty-five (45) days from the Second Amendment Effective Date (or such longer period of time as Agent shall agree in its sole discretion), an amended Mexican Pledge, in form and substance reasonably satisfactory to Agent, duly recorded in Mexico and executed by MPA Mexico.

More Definitions of Mexican Pledge

Mexican Pledge means that certain Pledge Agreement of even date herewith executed by the Borrower in favor of the Agent, as amended, restated or otherwise modified from time to time, pursuant to which the Borrower has pledged to the Agent, for the benefit of the Holders of Secured Obligations, sixty-five percent (65%) of the Capital Stock of Empaques Printpack de Mexico, S.A. de C.V.

Mexican Pledge means that certain Pledge Agreement dated as of the June 3, 2015 entered by and among MPA, Motorcar Mexico and Agent (as may be amended, amended and restated, supplemented or otherwise modified in in any way from time to time). “MPA Owned Cores at Customer Locations Inventory” shall mean any Eligible Inventory, which is accounted for by MPA on the balance sheet as a portion of “Contract Assets” (remanufactured cores held at Customers’ locations) recorded at the lower of cost or net realizable value. MPA Owned Cores at Customer Locations represent the value of remanufactured cores either purchased from, or credited to Customers (or shipped to the Customer without charging) which are held by the Customers and remain on the Customers’ premises.

Mexican Pledge means a pledge without transfer of possession (prenda sin transmisión de posesión) in form and substance acceptable to the Lessor and the Owner Participant, granting the Lessor a first priority Security Interest in any rights the Lessee may have, or claim to have, from time to time, in the Maintenance Payments, any Maintenance Contribution obligations, the Security Deposit and any amounts drawn under a Security Deposit Letter of Credit, pursuant to Clauses 5.1.3, 5.3.2 and 5.3.7.