Demobilisation. 6.1 The Pledges shall be a continuing security and shall not be considered as satisfied or discharged or prejudiced by any intermediate payment, satisfaction or settlement of any part of the Secured Obligations and shall remain in full force and effect until express demobilisation thereof has been granted by the Central Bank. 6.2 To request the demobilisation of a Pledge over a Credit Claim, the Pledgor shall send a Demobilisation Instruction to the Central Bank. No Demobilisation Instruction is required in the case of matured Credit Claims. The Pledgor shall take any other steps that may be required to perfect the release in accordance with any applicable law. 6.3 Before the Demobilisation Instruction is accepted, the value of the Collateral Pool is (notionally) reduced by an amount equal to the sum of the Collateral Value of all the Credit Claims being demobilised. 6.4 If this reduction in the value of the Collateral Pool would result in the total value of the Collateral Pool becoming lower than the total Credit Position, no adjustment to the Collateral Pool is performed and the Demobilisation Instruction is put on hold. 6.5 The Central Bank will periodically attempt to re-process the Demobilisation Instruction in order to ascertain whether sufficient collateral has become available to successfully process that instruction. The Demobilisation Instruction will be rejected if it cannot be successfully processed by the end of the intended settlement date. 6.6 If the instruction fails to settle, the impact of the Demobilisation Instruction on the Collateral Pool is unwound, i.e. by increasing the value of the collateral pool by an amount equal to the Collateral Value of the Credit Claim(s) subject to the failed Demobilisation Instruction. 6.7 Registration requests, Mobilisation Instructions, reference data updates and Demobilisation Instructions may be transmitted in a single file. If a Credit Claim file is submitted which contains multiple instructions, any Demobilisation Instructions contained in the file are processed last: (a) all instructions relating to updates to Credit Claims and rating information and all instructions relating to the mobilisation of Credit Claims are processed first, followed by (b) the sum of Demobilisation Instructions.
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Demobilisation. 6.1 The Pledges shall be a continuing security and shall not be considered as satisfied or discharged or prejudiced by any intermediate payment, satisfaction or settlement of any part of the Secured Obligations and shall remain in full force and effect until express demobilisation thereof has been granted by the Central Bank.
6.2 To request the demobilisation of a Pledge over a Credit Claim, the Pledgor shall send a Demobilisation Instruction to the Central Bank. No Demobilisation Instruction is required in the case of matured Credit Claims. The Pledgor shall take any other steps that may be required to perfect the release in accordance with any applicable law.
6.3 Before the Demobilisation Instruction is accepted, the value of the Collateral Pool is (notionally) reduced by an amount equal to the sum of the Collateral Value of all the Credit Claims being demobilised.
6.4 If this reduction in the value of the Collateral Pool would result in the total value of the Collateral Pool becoming lower than the total Credit Position, no adjustment to the Collateral Pool is performed and the Demobilisation Instruction is put on hold.
6.5 The Central Bank will periodically attempt to re-process the Demobilisation Instruction in order to ascertain whether sufficient collateral has become available to successfully process that instruction. The Demobilisation Instruction will be rejected if it cannot be successfully processed by the end of the intended settlement date.
6.6 If the instruction fails to settle, the impact of the Demobilisation Instruction on the Collateral Pool is unwound, i.e. by increasing the value of the collateral pool by an amount equal to the Collateral Value of the Credit Claim(s) subject to the failed Demobilisation Instruction.
6.7 Registration requests, Mobilisation Instructions, reference data updates and Demobilisation Instructions may be transmitted in a single file. If a Credit Claim file is submitted which contains multiple instructions, any Demobilisation Instructions contained in the file are processed last: (a) all instructions relating to updates to Credit Claims and rating information and all instructions relating to the mobilisation of Credit Claims are processed first, followed by (b) the sum of Demobilisation Instructions.
6.3 The demobilisation of a Credit Claim from the Pledge shall not affect the existence of the Pledges for the other Pledged Claims, and such Pledges shall continue to exist in full force and effect with respect to such Pledged Claims.
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Sources: Master Pledge Agreement