Common use of GENERAL PLEDGE Clause in Contracts

GENERAL PLEDGE. Except where prohibited by law or regulation, as security for the payment of all your current and future obligations under these Cryptocurrency Terms, you hereby grant a pledge in favour of PayPal on all your claims against PayPal under these Cryptocurrency Terms including your current and future claims against PayPal under the fiduciary arrangement relating to your Cryptocurrencies. If you fail to make a payment to PayPal, you immediately authorise us to enforce the pledge and appropriate or sell the Cryptocurrencies in accordance with applicable legal provisions. PayPal may offset the claims you have pledged in its favour against claims PayPal has against you. PayPal may do so without informing you in advance.