Common use of Retention of Pledged Collateral Clause in Contracts

Retention of Pledged Collateral. The Noteholder may, after providing the notices required by Section 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Secured Obligations. Unless and until the Noteholder shall have provided such notices, however, the Noteholder shall not be deemed to have retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason.

Retention of Pledged Collateral. The Noteholder Lender may, after providing the notices required by Section 9-621 9.505(b) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Secured Obligations. Unless and until the Noteholder Lender shall have provided such notices, however, the Noteholder Lender shall not be deemed to have retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason.

Retention of Pledged Collateral. The Noteholder Lender may, after providing the notices required by Section 9-621 9A-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Secured Obligations. Unless and until the Noteholder Lender shall have provided such notices, however, the Noteholder Lender shall not be deemed to have retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason.