Common use of Cession and Pledge Clause in Contracts

Cession and Pledge. 9.1. You hereby cede to and in our favour all of your rights, titles and interests in and to the Financial Products as a general continuing covering or collateral security for the due performance and discharge of any indebtedness arising towards us should your account become overdrawn, including specifically but without limitation default interest, finance charges, commissions, the cost of recovery and realisation. 9.2. You hereby authorise us, in our sole discretion, to do all such things as may be necessary to effect the cession in clause 11.1 through making the appropriate entries in the central securities account or securities account in which the Financial Products are held. 9.3. You hereby authorise and empower us to advise all other parties under the Financial Products of our rights hereunder. 9.4. Should your account become overdrawn and we accordingly become entitled to exercise our rights you hereby authorise us to: 9.4.1. instruct all other parties under the Financial Products to effect payment thereunder directly to us, 9.4.2. receive and grant receipts in our own name for all or any interest, dividends, income and benefits arising from or by virtue of the Financial Products ceded and/or pledged hereunder and to apply such sum(s) so recovered in reduction of your indebtedness to us or to pay the same over to the you as we may deem fit; 9.4.3. without obtaining a court order and in our sole discretion, sell, call up, set- off, collect, otherwise realise or dispose of the Financial Products or any of them in such manner and on such conditions as we may deem necessary and to grant valid and effectual receipts for all sums of money paid to us in respect of any such sale, calling up, set-off, collection, realisation and/ or disposal and to apply the proceeds of any such sale, calling up, set-off, collection or realisation after deducting all costs to settling the overdrawn account in full.

Cession and Pledge. 9.1. You hereby cede to and in our favour all of your rights, titles and interests in and to the Financial Products as a general continuing covering or collateral security for the due performance and discharge of any indebtedness arising towards us should your account become overdrawn, including specifically but without limitation default interest, finance charges, commissions, the cost of recovery and realisation. 9.2. You hereby authorise us, in our sole discretion, to do all such things as may be necessary to effect the cession in clause 11.1 through making the appropriate entries in the central securities account or securities account in which the Financial Products are held. 9.3. You hereby authorise and empower us to advise all other parties under the Financial Products of our rights hereunder. 9.4. Should your account become overdrawn and we accordingly become entitled to exercise our rights you hereby authorise us to: 9.4.1. i. instruct all other parties under the Financial Products to effect payment thereunder directly to us, 9.4.2, ii. receive and grant receipts in our own name for all or any interest, dividends, income and benefits arising from or by virtue of the Financial Products ceded and/or pledged hereunder and to apply such sum(s) so recovered in reduction of your indebtedness to us or to pay the same over to the you as we may deem fit; 9.4.3. without obtaining a court order and in our sole discretion, sell, call up, set- off, collect, otherwise realise or dispose of the Financial Products or any of them in such manner and on such conditions as we may deem necessary and to grant valid and effectual receipts for all sums of money paid to us in respect of any such sale, calling up, set-off, collection, realisation and/ or disposal and to apply the proceeds of any such sale, calling up, set-off, collection or realisation after deducting all costs to settling the overdrawn account in full.

Cession and Pledge. 9.110.1. You hereby cede to and in our favour all of your rights, titles and interests in and to the Financial Products as a general continuing covering or collateral security for the due performance and discharge of any indebtedness arising towards us should your account become overdrawn, including specifically but without limitation default interest, finance charges, commissions, the cost of recovery and realisation. 9.210.2. You hereby authorise us, in our sole discretion, to do all such things as may be necessary to effect the cession in clause 11.1 through making the appropriate entries in the central securities account or securities account in which the Financial Products are held. 9.310.3. You hereby authorise and empower us to advise all other parties under the Financial Products of our rights hereunder. 9.410.4. Should your account become overdrawn and we accordingly become entitled to exercise our rights you hereby authorise us to: 9.4.110.4.1. instruct all other parties under the Financial Products to effect payment thereunder directly to us, 9.4.210.4.2. receive and grant receipts in our own name for all or any interest, dividends, income and benefits arising from or by virtue of the Financial Products ceded and/or pledged hereunder and to apply such sum(s) so recovered in reduction of your indebtedness to us or to pay the same over to the you as we may deem fit; 9.4.310.4.3. without obtaining a court order and in our sole discretion, sell, call up, set- set-off, collect, otherwise realise or dispose of the Financial Products or any of them in such manner and on such conditions as we may deem necessary and to grant valid and effectual receipts for all sums of money paid to us in respect of any such sale, calling up, set-off, collection, realisation and/ or and/or disposal and to apply the proceeds of any such sale, calling up, set-off, collection or realisation after deducting all costs to settling the overdrawn account in full.

Cession and Pledge. 9.110.1. You hereby cede to and in our favour all of your rights, titles and interests in and to the Financial Products as a general continuing covering or collateral security for the due performance and discharge of any indebtedness arising towards us should your account become overdrawn, including specifically but without limitation default interest, finance charges, commissions, the cost of recovery and realisation. 9.210.2. You hereby authorise us, in our sole discretion, to do all such things as may be necessary to effect the cession in clause 11.1 through making the appropriate entries in the central securities account or securities account in which the Financial Products are held. 9.310.3. You hereby authorise and empower us to advise all other parties under the Financial Products of our rights hereunder. 9.410.4. Should your account become overdrawn and we accordingly become entitled to exercise our rights you hereby authorise us to: 9.4.1. i. instruct all other parties under the Financial Products to effect payment thereunder directly to us, 9.4.2, ii. receive and grant receipts in our own name for all or any interest, dividends, income and benefits arising from or by virtue of the Financial Products ceded and/or pledged hereunder and to apply such sum(s) so recovered in reduction of your indebtedness to us or to pay the same over to the you as we may deem fit; 9.4.3. without obtaining a court order and in our sole discretion, sell, call up, set- off, collect, otherwise realise or dispose of the Financial Products or any of them in such manner and on such conditions as we may deem necessary and to grant valid and effectual receipts for all sums of money paid to us in respect of any such sale, calling up, set-off, collection, realisation and/ or disposal and to apply the proceeds of any such sale, calling up, set-off, collection or realisation after deducting all costs to settling the overdrawn account in full.