Common use of Security Clause in Contracts

Security. 30.1 While providing Banking Services, the Bank shall be entitled to require that Client’s debts owed to the Bank be secured with a reasonable security or additional security, and to do so even in the course of the provision of a given Banking Service, especially in case of a significant deterioration of Client's financial situation or considerable change in his/her legal position. The failure to provide such a security or additional security may be considered by the Bank as a substantial violation of the Contract by the Client. 30.2 The Bank shall be entitled to realise the security under the terms and conditions set forth in a relevant Contract. 30.3 In relation to the subject of security that secures the Client’s debts to the Bank, the Client undertakes not to transfer, assign or dispose of such a subject of security, nor otherwise allow the acquisition of any title or rights thereto by a third party, nor put it into trust, nor provide it as collateral in favour of a third party other than the Bank, without prior written consent obtained from the Bank. The Client undertakes that the third party securing the Client’s debts to the Bank and different from the Client shall not transfer, assign or dispose of such a subject of security, nor otherwise allow the acquisition of any title or rights thereto by a third party, nor put it into trust, nor provide it as collateral in favour of a third party other than the Bank, without prior written consent obtained from the Bank. 30.4 The secured debts shall not be transferred to the acquirer of the subject of security (assignee) without prior written consent obtained from the Bank. 30.5 If, after the transfer of the ownership title to the subject of security, there is a written request from the Client or a person providing the security and different from the Client addressed to the Bank to accept the acquirer of the subject of security as a new debtor instead of the Client, the Bank shall be entitled to express its opinion on such a written request within 30 calendar days of the delivery of such a written request at the address of the Client’s Point of Sale.

Security. 30.1 While providing Banking Services, the Bank shall be entitled to require that Client’s debts owed to the Bank be secured with a reasonable security or additional security, and to do so even in the course of the provision of a given Banking Service, especially in case of a significant deterioration of Client's financial situation or considerable change in his/her legal position. The failure to provide such a security or additional security may be considered by the Bank as a substantial violation of the Contract by the Client. 30.2 The Bank shall be entitled to realise the security under the terms and conditions set forth in a relevant Contract. 30.3 In relation to the subject of security that secures the Client’s debts to the Bank, the Client undertakes not to transfer, assign or dispose of such a subject of security, nor otherwise allow the acquisition of any title or rights thereto by a third party, nor put it into trust, nor provide it as collateral in favour of a third party other than the Bank, without prior written consent obtained from the Bank. The Client undertakes that the third party securing the 48 In particular Act No. 21/1992 Coll., On Banks; Act No. 89/2012 Coll., the Civil Code; and Act No. 480/2014 Coll., On Certain Information Society Services, as amended. 49 Act No. 89/2012 Coll., the Civil Code, as amended. Client’s debts to the Bank and different from the Client shall not transfer, assign or dispose of such a subject of security, nor otherwise allow the acquisition of any title or rights thereto by a third party, nor put it into trust, nor provide it as collateral in favour of a third party other than the Bank, without prior written consent obtained from the Bank. 30.4 The secured debts shall not be transferred to the acquirer of the subject of security (assignee) without prior written consent obtained from the Bank. 30.5 If, after the transfer of the ownership title to the subject of security, there is a written request from the Client or a person providing the security and different from the Client addressed to the Bank to accept the acquirer of the subject of security as a new debtor instead of the Client, the Bank shall be entitled to express its opinion on such a written request within 30 calendar days of the delivery of such a written request at the address of the Client’s Point of Sale.