Examples of Pledged Cash Account in a sentence

The BRP shall sign a Pledged Cash Account Agreement defined by eSett to pledge the account to eSett and grant eSett the necessary right of disposal over the funds on the account.
To enable the debiting of the settlement account and to make it possible to apply the funds on the settlement account as collateral, the BRP needs to sign a Pledged Cash Account Agreement, as defined by eSett, whereby the BRP pledges the funds on the account to eSett and grants eSett the necessary right of disposal over the account.
In addition, BRP needs to sign a Pledged Cash Account Agreement with eSett and Settlement Bank (see Chapter 8.4).
For clarity, BRP should note that the Settlement Bank agreement or the Pledged Cash Account agreement does not prevent the Settlement Bank from utilising its possible right to set-off accrued negative interest payable by BRP (if any) to the Settlement Bank under the terms and conditions of the Pledged Cash Account, if such negative interest will not be otherwise charged.
In the Pledged Settlement Account Model to enable the debiting of the pledged settlement account and to make it possible to apply the funds on the pledged settlement account as collateral, the BRPs and BSPs need to sign a Pledged Cash Account Agreement, as defined by eSett, whereby they pledge the funds on the account to eSett and grant eSett the necessary right of disposal over the account.

More Definitions of Pledged Cash Account

Pledged Cash Account means any Collateral Account containing Pledged Cash.

Pledged Cash Account means any deposit account held by the Applicable Agent or one of its Affiliates or (any successor Agent or one of its Affiliates) subject to a first priority and perfected Lien in favor of the applicable Agent (a) designated by the Borrowers to contain only Pledged Cash or a portion thereof, (b) for which such Borrower has delivered to the applicable Agent a control agreement (or such other documentation) each in form and substance satisfactory to the applicable Agent in order to give such Agent sole and exclusive dominion and control over such deposit account and (c) as maintained in accordance with Section 5.21.

Pledged Cash Account means the cash account number  (IBAN LU) opened in the books of the Account Bank (IM) in the name of the Chargor associated with the Pledged Securities Account. 3 Luxembourg banks refer to the term “Account Bank” rather than the term “Custodian” in security documents. This agreement has not been prepared for use where the Pledged Accounts are in the books of Clearstream Banking S.A..

Pledged Cash Account means the cash account number  (IBAN BE) opened in the books of the Custodian (IM) in the name of the Chargor recording Posted Credit Support (IM) in the form of cash.

Pledged Cash Account means that segregated cash collateral account held by Borrower and maintained with the Lender in a principal amount not less than $3,000,000, in which the Lender will have a first priority perfected security interest (including in any certificate(s) of deposit issued by the Borrower to the Lender in connection therewith), and shall include all rights of blockage and setoff in favor of the Lender.

Pledged Cash Account means the Cash Account (as defined in the Operating Procedures of the Euroclear System, as amended from time to time) in the Euroclear System in the name of the Pledgee associated with the Pledged Securities Account (including any credit or debit balance which now appears or may at any time in the future appear in any currency or composite currency unit sub-account of such cash account);