PEC Pledge Agreement definition
Examples of PEC Pledge Agreement in a sentence
Section 9.1 of the Credit Agreement is amended by adding the following sentence at the end of Section 9.1(d): The 30-day grace period referenced in the preceding sentence shall not apply to any default in the observance or performance of any covenant, condition, or provision contained in the PEC Guaranty, the PEC Pledge Agreement, or the PEC Security Agreement.
The Company shall have delivered to Agent all consents, authorizations and amendments determined by Agent to be necessary to ensure the enforceability of the PEC Guaranty, the PEC Pledge Agreement and the PEC Security Agreement.
The 30-day grace period referenced in the preceding sentence shall not apply to any default in the observance or performance of any covenant, condition, or provision contained in the PEI Security Agreement, the PEC Guaranty, the PEC Pledge Agreement, the PEC Security Agreement, the ICP Guaranty or the ICP Security Agreement.
Section 6.3 of the Credit Agreement is hereby amended by adding the following sentence at the end of Section 6.3: Payment and performance of the Obligations shall also be (a) guaranteed by PEC pursuant to the PEC Guaranty, and (b) secured by first priority perfected Liens on all personal property of PEC pursuant to the PEC Pledge Agreement and the PEC Security Agreement.
The 30-day grace period referenced in the preceding sentence shall not apply to any default in the observance or performance of any covenant, condition, or provision contained in the PEI Security Agreement, the PEC Guaranty, the PEC Pledge Agreement, the PEC Security Agreement, the Pekin Guaranty or the Pekin Security Agreement.