Sale of a pledge Sample Clauses

Sale of a pledge. The bank shall notify the pledgor after the principal debt or part thereof has fallen due that the pledge is to be sold unless the amount overdue is paid within one (1) month of the notification. However, notwithstanding the above the bank has the right to sell the pledge if observance of this deadline apparently caused substantial loss due to a reduction in the value of the pledge. The bank may sell the pledge if the overdue principal debt or part thereof remains unpaid in one month’s time of the date of the aforementioned notification. If the pledge consists of the pledgor’s shares giving the right to possess a flat used mainly as his/her home or of the capital value of the right-of-occupancy dwelling, under the Right-of-Occupancy Housing Act, used by the pledgor mainly as his/her home, the abovementioned deadline will be two (2) months. If the pledge consists of entitlement based on life insurance, the bank may use the surrender value of the policy for payment of the principal debt, provided that the principal debt has first been demanded from the policyholder who has not paid the debt within two (2) months of presenting demand for payment. Pledged funds deposited in an account with the bank may be used for payment of the principal debt as soon as the principal debt has fallen due, irrespective of what has been agreed on the withdrawal of funds and on termination. The pledge may be sold in the manner deemed appropriate by the bank. The pledge will be sold in a manner that is as appropriate as possible for the parties involved but in such a way that the bank’s claims are not at risk. The bank may, without hearing the pledgor, familiarise itself with the asset subject to a lien and show it to prospective buyers and take all measures required for such showing (e.g. with the assistance of a caretaker, house manager or official, enabling entry into the flat with pledged shares entitling its holder to possession of the flat). Before such measures, the bank will inform the pledgor thereof. Immovable property which stands as security will be converted into cash in the order as prescribed in the Execution Act.
Sample 1
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Sale of a pledge. The bank may convert the pledge into cash without hearing the pledgor and calling the debt for separate repayment in respect of the pledgor, without seeking a judgement or ruling or without going through the formalities provided for in the law other than those in mandatory law, when the principal debt of part of it has fallen due for payment. The pledge may be sold in the manner deemed appropriate by the bank. The pledge will be sold in a manner that is as appropriate as possible for the parties involved but in such a way that the bank's claims are not at risk. Pledged funds at the bank are considered to be due for immediate payment regardless of what has been agreed on the withdrawal of the funds and termination. In such a case, the bank has the right to immediately debit the account to the amount of its claim. Then the amount of interest shall be paid on the deposit as agreed in the account agreement from the deposit date until the deposit termination date. The bank may, without hearing the pledgor, familiarise itself with the asset subject to a lien and show it to prospective buyers and take all measures required for such showing (for example with the assistance of a caretaker, house manager or official, enabling entry into the flat with pledged shares entitling its holder to possession of the flat). Before such measures, the bank will inform the pledgor thereof.
Sample 1

Related to Sale of a pledge

  • Sale of Pledged Collateral Upon the occurrence of an Event of Default and during the continuation thereof, without limiting the generality of this Section and without notice, the Administrative Agent may, in its sole discretion, sell or otherwise dispose of or realize upon the Pledged Collateral, or any part thereof, in one or more parcels, at public or private sale, at any exchange or broker’s board or elsewhere, at such price or prices and on such other terms as the Administrative Agent may deem commercially reasonable, for cash, credit or for future delivery or otherwise in accordance with applicable law. To the extent permitted by law, any holder of the Secured Obligations may in such event bid for the purchase of such securities. Each Pledgor agrees that, to the extent notice of sale shall be required by law and has not been waived by such Pledgor, any requirement of reasonable notice shall be met if notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed postage prepaid to such Pledgor in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) days before the time of such sale. The Administrative Agent shall not be obligated to make any sale of Pledged Collateral of such Pledgor regardless of notice of sale having been given. The Administrative Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.

  • Sale of Assets The Company or the Bank sells to a third party all or substantially all of its assets.

  • Limitations on Sale of Assets Convey, sell, lease, assign, transfer or otherwise dispose of any of its property, business or assets (including, without limitation, the sale of any receivables and leasehold interests and any sale-leaseback or similar transaction), whether now owned or hereafter acquired except:

  • NO STRIKE PLEDGE The Union agrees that during the life of this Agreement, its agents, or its members shall not authorize, instigate, aid, or engage in any work stoppage, slowdown, sick-out, refusal to work, picketing, or strike against the District. If, during the life of this Agreement, the employees, for whatever reason engage in the aforementioned provisions, the Union shall immediately publicly order the striking employees to discontinue such action through the local media. Failure of the Union to take such action shall be subject to enforcement by the ordinary process of law.

  • Releases Following Sale of Assets In the event of a sale or other disposition of all of the assets of any Guarantor, by way of merger, consolidation or otherwise, or a sale or other disposition of all to the capital stock of any Guarantor, in each case to a Person that is not (either before or after giving effect to such transactions) a Subsidiary of the Company, then such Guarantor (in the event of a sale or other disposition, by way of merger, consolidation or otherwise, of all of the capital stock of such Guarantor) or the corporation acquiring the property (in the event of a sale or other disposition of all or substantially all of the assets of such Guarantor) will be released and relieved of any obligations under its Note Guarantee; provided that the Net Proceeds of such sale or other disposition are applied in accordance with the applicable provisions of this Indenture, including without limitation Section 4.10 hereof. Upon delivery by the Company to the Trustee of an Officers' Certificate and an Opinion of Counsel to the effect that such sale or other disposition was made by the Company in accordance with the provisions of this Indenture, including without limitation Section 4.10 hereof, the Trustee shall execute any documents reasonably required in order to evidence the release of any Guarantor from its obligations under its Note Guarantee. Any Guarantor not released from its obligations under its Note Guarantee shall remain liable for the full amount of principal of and interest on the Notes and for the other obligations of any Guarantor under this Indenture as provided in this Article 10.

  • Sale of Notes and Securitization Borrower acknowledges and agrees that the Lender may sell all or any portion of the Loan and the Loan Documents, or issue one or more participations therein, or consummate one or more private or public securitizations of rated single- or multi-class securities (the “Securities”) secured by or evidencing ownership interests in all or any portion of the Loan and the Loan Documents or a pool of assets that include the Loan and the Loan Documents (such sales, participations and/or securitizations, collectively, a “Securitization”). At the request of Lender, and to the extent not already required to be provided by Borrower under this Agreement, Borrower shall use reasonable efforts to provide information not in the possession of Lender or which may be reasonably required by Lender in order to satisfy the market standards to which Lender customarily adheres or which may be reasonably required by prospective investors and/or the Rating Agencies in connection with any such Securitization including, without limitation, to:

  • Sale of Notes The Company shall not sell or approve the solicitation of offers for the purchase of Notes in excess of the amount which shall be authorized by the Company from time to time or in excess of the aggregate initial offering price of Notes registered pursuant to the Registration Statement. The Agents shall have no responsibility for maintaining records with respect to the aggregate initial offering price of Notes sold, or of otherwise monitoring the availability of Notes for sale, under the Registration Statement.

  • No Pledge This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Noteholders. Except as otherwise provided in this Agreement and the Servicing Agreement, no Non-Lead Noteholder shall have any interest in any property taken as security for the Mortgage Loan, provided, however, that if any such property or the proceeds of any sale, lease or other disposition thereof shall be received, then each Non-Lead Noteholder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

  • Sale of Note The Note or a partial interest in the Note, together with this Security Instrument, may be sold or otherwise transferred one or more times. Upon such a sale or other transfer, all of Lender’s rights and obligations under this Security Instrument will convey to Xxxxxx’s successors and assigns.

  • Xxxxxx, Sale of Assets, etc If the Borrower at any time shall consolidate with or merge into or sell or convey all or substantially all its assets to any other corporation, this Note, as to the unpaid principal portion thereof and accrued interest thereon, shall thereafter be deemed to evidence the right to purchase such number and kind of shares or other securities and property as would have been issuable or distributable on account of such consolidation, merger, sale or conveyance, upon or with respect to the securities subject to the conversion or purchase right immediately prior to such consolidation, merger, sale or conveyance. The foregoing provision shall similarly apply to successive transactions of a similar nature by any such successor or purchaser. Without limiting the generality of the foregoing, the anti-dilution provisions of this Section shall apply to such securities of such successor or purchaser after any such consolidation, merger, sale or conveyance.

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