Valuation of Collateral. Following election by Pledgor to substitute Eligible Cash Equivalents for Pledged Items pursuant to Section 5.2, the Collateral Agent shall determine as of 5:00 p.m., New York City time, on each Business Day following any such election whether the Pledge Value satisfies the Pledge Value Requirement and whether an Insufficiency Determination or Collateral Event of Default shall have occurred, and shall provide written notice of the Pledge Value and the Pledge Value Requirement, in the form of Exhibit A, to Pledgor.
Appears in 3 contracts
Sources: Collateral Agreement (2017 Mandatory Exchangeable Trust), Collateral Agreement (2017 Mandatory Exchangeable Trust), Collateral Agreement (2017 Mandatory Exchangeable Trust)