Pledged Collateral Value

Pledged Collateral Value. Shall mean at any time the lesser of: (A) the sum of the market value at such time of the Pledged Securities in the Account consisting of U.S. treasury bills, U.S. treasury notes and municipal securities having maturities of 90 days or less (as the terms "Pledged Securities" and "Account" are defined in the pledge and security agreement... referred to in Section 5(c) hereof) plus the amount of cash then in the Account; or (B) $4,000,000. View More