Pledge, Mortgage or Charge Sample Clauses

Pledge, Mortgage or Charge as Collateral for a Loan
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Pledge, Mortgage or Charge as Collateral for a Loan‌ You may pledge, mortgage or charge your Escrowed Securities to a financial institution as collateral for a loan, provided that no Escrowed Securities or any share certificates or other evidence of Escrowed Securities will be transferred or delivered by the Escrow Agent to the financial institution for this purpose. The loan agreement must provide that the Escrowed Securities will remain in escrow if the lender realizes on the Escrowed Securities to satisfy the loan.‌
Sample 1
Pledge, Mortgage or Charge. AS COLLATERAL FOR A LOAN Securityholders may pledge, mortgage or charge their Escrow Securities to a financial institution as collateral for a loan, provided that no Escrow Securities or any share certificates or other evidence of Escrow Securities will be transferred or delivered by the Escrow Agent to the financial institution for this purpose. The loan agreement must provide that the Escrow Securities will remain in escrow if the lender realizes on the Escrow Securities to satisfy the loan.
Sample 1
Pledge, Mortgage or Charge. AS COLLATERAL FOR A LOAN You may pledge, mortgage or charge your escrow securities to a financial institution as collateral for a loan, provided that no escrow securities or any share certificates or other evidence of escrow securities will be transferred or delivered by the Escrow Agent to the financial institution for this purpose. The loan agreement must provide that the escrow securities will remain in escrow if the lender realizes on the escrow securities to satisfy the loan.
Sample 1

Related to Pledge, Mortgage or Charge

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan. (2) Prior to the transfer the Escrow Agent must receive: (a) a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the escrow securities; (b) a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and (c) an acknowledgement in the form of Schedule “B” signed by the financial institution. (3) Within 10 days after the transfer, the transferee of the escrow securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

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