Examples of Pledged Collateral in a sentence
You agree to sign any documents that we may request throughout the lifetime of your Account to confirm the creation of the Pledged Deposit Account and our security interest in the Pledged Collateral.
This deposit account is your “Pledged Deposit Account.” The total value of your Deposit Funds is the Pledged Collateral.
You acknowledge that, during the term of this Agreement, you may not sell, transfer, assign, pledge or create any security interest (except the security interest created hereby) in the Pledged Collateral.
You hereby grant us a security interest in the Pledged Collateral associated with your Account, and you authorize us and the Deposit Bank to take all actions necessary or appropriate to ensure our rights in the Pledged Collateral.
If you default under this Agreement (see Section 12) and we exercise our rights as a secured creditor with respect to the Pledged Collateral, but the outstanding Account balance exceeds the Deposit Funds, you are and will remain liable for the difference, plus any further Fees and Interest that may subsequently accumulate, until the Account balance is paid in full.