Operating Account Pledge definition

Operating Account Pledge means a first priority pledge executed or (as the context may require) to be executed by the Guarantor in favour of the Bank in respect of (inter alia) the Operating Account;

Operating Account Pledge means the pledge executed or (as the context may require) to be executed by the Borrower in favour of the Bank in respect of the Operating Account in such form as the Bank may in its absolute discretion require;”;

Operating Account Pledge means, in relation to each Operating Account, a deed creating security in respect of that Operating Account in the Agreed Form;

Examples of Operating Account Pledge in a sentence

• The Collateral Operating Account and all amounts from time to time standing to the credit thereof shall be subject to the security constituted and the rights conferred by the Collateral Operating Account Pledge.

• The Operating Account and all amounts from time to time standing to the credit thereof shall be subject to the security constituted and the rights conferred by the relevant Operating Account Pledge.

• The Operating Account and all amounts from time to time standing to the credit thereof shall be subject to the security constituted and the rights conferred by the Operating Account Pledge.

• The Creditors hereby agree that, with effect on and from the Effective Date, the Operating Account Pledge and the Retention Account Pledge be (and they are hereby) discharged and, consequently, the Borrower be (and it is hereby) released from its obligations arising under each of the Operating Account Pledge and the Retention Account Pledge.

More Definitions of Operating Account Pledge

Operating Account Pledge means any of them;

Operating Account Pledge means the pledge of the Operating Account to be executed by Falcon Global in favor of the Security Trustee,

Operating Account Pledge in relation to each Borrower Ship and the relevant Borrower's Operating Account, means the relevant Borrower's Operating Account Pledge; or

Operating Account Pledge means the first priority pledge of the Operating Account dated 20 April 2011 executed by the Borrower in favour of the Banks;

Operating Account Pledge means either of them;

Operating Account Pledge means a first priority pledge of the Operating Account executed or (as the context may require) to be executed by the Borrower in favour of the Bank in such form as the Bank may in it sole discretion require;

Operating Account Pledge means the pledge of the Operating Account to be executed by Falcon Global in favor of the Security Trustee, substantially in the form set out in Exhibit M hereto;