Common use of Financial Collateral Clause in Contracts

Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Deed constitute “financial collateral” and this Deed and the obligations of the Pledgor under this Deed constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Law 2004 (Law 43(I)/ 2004) the Pledgee shall have the right after this Security has become enforceable to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Liabilities. (b) For the purpose of paragraph (a) above, the value of the financial collateral appropriated shall be the Market Value.