Pledge Account definition

Pledge Account means an account established with the Trustee pursuant to the terms of the Pledge Agreement for the deposit of the Pledged Securities purchased by the Company with a portion of the proceeds from the sale of the Notes.

Pledge Account. With respect to a Pledged Asset Mortgage Loan, an account that is managed by the Pledge Holder to secure a Letter of Credit.

Pledge Account means an account established by the Trustee pursuant to the terms of the Pledge Agreement for the deposit of the Pledged Securities purchased by the Company with a portion of the proceeds from the sale of the Notes.

Examples of Pledge Account in a sentence

• The Pledged Securities shall be pledged by the Company to the Trustee for the benefit of the Holders and shall be held by the Trustee in the Pledge Account pending disposition pursuant to the Pledge Agreement.

• Seller shall cause an amount not less than the Required Amount to be on deposit in the Cash Pledge Account at all times.

• If there are insufficient Pledged Securities together with proceeds of Pledged Securities and other Collateral in the Pledge Account to make any required payment on the Secured Obligations, the Grantor shall be liable to the Trustee for any deficiency.

• If on any Remittance Date, the amount on deposit in the Cash Pledge Account is greater than the Required Amount, provided that no Default or Event of Default has occurred and is continuing, upon Seller’s request such excess will be disbursed to Seller on such Remittance Date after application by Buyer to the payment of any amounts owing by Seller to Buyer on such date.

• Upon receipt of an Issuer Order, the Trustee will direct the Pledged Securities Intermediary to release funds from (and to the extent of) proceeds of the Pledged Securities in the Pledge Account in an amount sufficient to provide for the payment in full of such interest then due on the Notes, as instructed in such Issuer Order, and to transfer such funds to the Holders of the Notes in accordance with the payment provisions of the Indenture.

More Definitions of Pledge Account

Pledge Account has the meaning specified in the Pledge Agreement.

Pledge Account means an account established by the Trustee pursuant to the terms of the Pledge Agreement for the deposit of the Pledged Securities purchased by the Company with a portion of the proceeds from the sale of the Securities.

Pledge Account means an account held at the Sponsor and opened in the name of the Trustees in respect of each issue of an Equity Structured Product in which Holder Underlying Securities, not being Loaned Securities, will be held, and which account shall be noted by the Sponsor as pledged and ceded in accordance with the Pledge;

Pledge Account means the pledge account established pursuant to Section 2.2.

Pledge Account means a Memo Account to reflect deliveries of Securities and funds that have been Pledged by the Participant to another Participant and are held by CDS for that pledgee Participant.

Pledge Account means that certain segregated account provided for under the Pledge Agreement.

Pledge Account of a Portfolio means a custody account of Borrower acting for such Portfolio, which is maintained at Bank pursuant to the Custody Agreement and is marked to show that the assets recorded therein are pledged to Bank pursuant to this Agreement.