equivalent collateral

equivalent collateral
USA
collateral of identical type, nominal value, description and amount to collateral posted by a pledgor to the secured party. A secured party is typically permitted to return equivalent collateral to a pledgor if the secured party is permitted to rehypothecate (rehypothecation) the original collateral to a third party and the original collateral is therefore unavailable for return to the pledgor upon satisfaction of its obligations to the secured party.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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