Common use of Value of Pledged Assets Clause in Contracts

Value of Pledged Assets. In satisfaction of the requirements of Applicable Law, the value of the Pledged Assets shall be equal to 1 Tenge and for the purpose of complying with Article 307.1 of the Kazakhstan Civil Code shall be equal to the actual amount from time to time standing to the credit of the Debt Service Reserve Accounts, the Cash Sweep Accounts and the Revenue Accounts. In the event of any foreclosure on the Pledged Assets, the Proceeds received by the Pledgeholder may exceed or be less than the specified assessed value, depending on the actual amount of funds transferred to and received by the Pledgeholder as a result of the foreclosure.

Value of Pledged Assets. In satisfaction of the requirements of Applicable Law, the value of the Pledged Assets shall be equal to 1 Tenge and for the purpose of complying with Article 307.1 of the Kazakhstan Civil Code shall be equal to the actual amount from time to time standing to the credit of the Debt Service Reserve Accounts, the Cash Sweep Accounts and the Revenue AccountsCREL Restricted Account. In the event of any foreclosure on the Pledged Assets, the Proceeds received by the Pledgeholder may exceed or be less than the specified assessed value, depending on the actual amount of funds transferred to and received by the Pledgeholder as a result of the foreclosure.