Common use of Collection by Pledgor Clause in Contracts

Collection by Pledgor. Further to Clause 6.1 above, the Pledgee hereby authorises the Pledgor to collect the Collateral and to enter into compromises, settlements and other agreements with any Debtor, to grant discharge in respect of its Collateral and to exercise all other rights of the Pledgor in connection with the Collateral (including calling in its Collateral) and during such period while the Pledgor is so authorised, the Pledgee agrees not to exercise such rights. The Pledgee may revoke this authorisation upon the occurrence of an Event of Default which is continuing and notice to the Pledgor. Upon such revocation the Pledgor cannot derive any further rights from section 3:246(4) NCC and the Pledgee may inform the Debtors of that revocation and that further payments must be made into a bank account designated by the Pledgee.

Collection by Pledgor. Further to Clause 6.1 above, the The Pledgee hereby authorises the each Pledgor to collect collect, subject to the Collateral and to enter into compromises, settlements restrictions on profits and other agreements with any Debtor, to grant discharge forms of distributions and other payments in respect of its the Collateral and to exercise all other rights under the terms of the Pledgor in connection with Credit Agreement, all profits and other forms of distributions and other payments on the Collateral (including calling in its Collateral) of that Pledgor and during such period while the Pledgor is so authorised, the Pledgee agrees not to exercise such rights. The Pledgee may revoke this authorisation of any Pledgor upon the occurrence of an Event of Default which is continuing and notice to the each Pledgor. Upon such revocation the relevant Pledgor cannot derive any further rights from section 3:246(4) NCC and the Pledgee may inform the Debtors Cooperative of that revocation and that further payments must be made into a bank account designated by the Pledgee.

Collection by Pledgor. Further to Clause 6.1 above, the The Pledgee hereby authorises the Pledgor to collect the Collateral and to enter into compromises, settlements and other agreements with any DebtorBank, to grant discharge in respect of its Collateral and to exercise all other rights of the Pledgor in connection with the Collateral (including calling in its Collateral) and during such period while ), in each case to the Pledgor is so authorised, extent these rights are exercised in the Pledgee agrees not to exercise such rightsordinary course of business. The Pledgee may revoke this authorisation upon the occurrence of an Event of Default which is continuing and by notice to the Pledgor. Upon such revocation the Pledgor cannot derive any further rights from section 3:246(4) NCC and the Pledgee may inform the Debtors Banks of that revocation and that further payments must be made into a bank account designated by the Pledgee.