EFFECTIVENESS OF THE PLEDGE. 4.1. The Pledge shall be a continuing, first ranking pledge and shall not be considered as discharged by any intermediate payment, satisfaction or settlement of any part of the Secured Liabilities or by reason of there being at any time no Secured Liabilities then owing. It shall remain in full force and effect until released in accordance with Clause 9.2 (Pledge Release).
4.2. The Pledge shall be cumulative, in addition to and independent of every other security, security interest or guarantee which the Pledgee or any other Interim Finance Party may at any time hold as security for the Secured Liabilities or any rights, powers and remedies provided by law and shall not operate so as in any way to prejudice or affect or be prejudiced or affected by any security interest or other right or remedy which the Pledgee may now or at any time in the future have in respect of the Secured Liabilities.
4.3. The Pledgor shall not be entitled to require the release of the Pledge until the Secured Liabilities have been repaid in full, except as otherwise permitted under the Interim Facilities Agreement or where Required Creditor Consent has been obtained.
4.4. Neither the obligations of the Pledgor contained in this Agreement nor the rights, powers and remedies conferred upon the Pledgee by this Agreement or by law, nor the Pledge created hereby shall be discharged, impaired or otherwise affected by:
(a) any change, amendment, restatement or supplement whatsoever to, or any variation or waiver of, any obligation of any of the Secured Liabilities;
(b) any time, waiver or consent granted to, or composition with, the Pledgor or any other person;
(c) any failure to take, or fully to take, any security contemplated by the Interim Facilities Agreement or otherwise agreed to be taken in respect of any of the Secured Liabilities;
(d) any failure to realise or to fully realise the value of, or any release, discharge, exchange or substitution of, any security taken in respect of any of the Secured Liabilities;
(e) any incapacity or lack of power, authority or legal personality or dissolution or change in the members or status of the Pledgor; or
(f) any other act, event or omission which, but for this Clause 4 (Effectiveness of the Pledge), might operate to discharge, impair or otherwise affect any of the obligations of the Pledgor contained in this Agreement and/or the rights, powers and remedies conferred upon the Pledgee by this Agreement, this Pledge or by law.
4.5. For the av...
EFFECTIVENESS OF THE PLEDGE. 6.1 The Pledge shall be a continuing first-ranking pledge (gage de premier rang) and shall not be considered as satisfied, discharged or prejudiced by any intermediate payment, satisfaction or settlement of any part of the Secured Obligations, but shall remain in full force and effect until it has been released in accordance with clause 12 below.
EFFECTIVENESS OF THE PLEDGE. 6.1 The Pledge shall be a continuing first ranking pledge (gage de premier rang) and shall not be considered as satisfied, discharged or prejudiced by any intermediate payment, satisfaction or settlement of any part of the Secured Liabilities, but shall remain in full force and effect until it has been released in accordance with Clause 12 below.
6.2 The Security Agent’s rights pursuant to this Agreement are cumulative, additional to and independent of any rights provided by law or by any agreement with, or any other security in favour of, the Security Agent in respect of the Secured Liabilities.
6.3 No failure or delay by the Security Agent to exercise any of its rights or remedies under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such rights or remedies preclude any other or future exercise thereof.
6.4 Neither the Pledgor’s obligations, nor the rights, powers and remedies granted to the Security Agent by any Finance Document or by any applicable law, nor the Pledge, shall be discharged, impaired or otherwise affected by:
(i) any amendment, novation, waiver or release (other than a release granted in accordance with Clause 12 below) of any Secured Liabilities or any Finance Document;
(ii) any failure to take, or to take in full, any other security contemplated by the Finance Documents or otherwise agreed to be taken in respect of the Secured Liabilities;
(iii) any failure to realise or to realise in full the value of any security taken in respect of the Secured Liabilities; or
(iv) the release (in full or in part), exchange or substitution of any other security taken in respect of the Secured Liabilities.
EFFECTIVENESS OF THE PLEDGE. 8.1 The Pledge is absolute and unconditional, its validity and existence are autonomous, and it is cumulative to any other security interests and/or guarantee or any other right, faculty or remedy provided by law from which the Secured Creditors may, now or hereafter, benefit in relation to all or some of the Secured Obligations.
8.2 The Pledge shall secure, jointly and without any prior enforcement of other security interests granted to secure the Secured Obligations, all the Secured Obligations in full and each of them individually, on the terms and conditions of this Agreement.
8.3 By way of derogation from article 1200 of Italian Civil Code, the Pledge shall remain valid in its entirety, notwithstanding any redemption or partial performance of the Secured Obligations, until the expiration of the Effective Period.
8.4 Should the Pledge be deemed, for any reason, to have been extinguished prior to the Expiry Date, it will be deemed to be reconstituted and in any event, should it become necessary, it will have to be re-established by the Pledgor, in the event that any or all payment or satisfaction, by or on behalf of the relevant debtor, or other means of extinguishing the Secured Obligations has been revoked or declared, in any event, even partially ineffective and/or unenforceable.
8.5 The Pledge will give rise to a first rank security interest to secure the punctual performance of the Secured Obligations, which will be binding towards the Pledgor, its successors and assignees, also in the event of syndication, extension, novation, substitution or any amendment to, or in connection with, the Finance Documents.
EFFECTIVENESS OF THE PLEDGE. 7.1 The Pledge shall be cumulative, in addition to, and independent of every other security which the Central Bank may at any time hold as security for the Secured Obligations or any rights, powers and remedies provided by law and shall not operate so as in any way to prejudice or affect or be prejudiced or affected by any security interest or other right or remedy which the Central Bank may now or at any time in the future have in respect of the Secured Obligations.
7.2 The Pledge shall not be prejudiced by any time or indulgence granted to any person, or any abstention or delay in perfecting or enforcing any security interest or rights or remedies that Central Bank may now or at any time in the future have from or against the Pledgor or any other person.
7.3 No failure on the part of the Central Bank to exercise, or delay on its part in exercising, any of its rights under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any further or other exercise of that or any other rights.
EFFECTIVENESS OF THE PLEDGE. (a) The Pledge shall be (i) registrable by the Lender delivering to NRC a Pledge Order duly executed by the Pledgor on the earlier of: (A) the Maturity Date and (B) the date of the occurrence of an Event of Default and (ii) fully enforceable by the Lender in accordance with the terms hereof from and after the earlier of such dates. Notwithstanding the foregoing, all other provisions of this Contract shall become effective upon its signing by the Parties.
(b) The Pledge shall be without prejudice and in addition to any other Means of Securing Obligations whatsoever which may be held by the Lender or granted to the Lender by the Pledgor or the Borrower or any other Person for or in respect of all or any part of the Secured Obligations; and the charges, covenants and provisions contained herein shall remain in force as continuing security for the Lender until all of the Secured Obligations have been paid and performed in full. When the Secured Obligations have been paid and performed in full to the satisfaction of the Lender (in its sole discretion), the Lender shall, upon the request of the Pledgor, issue an absolute and unconditional release of the Pledge.
EFFECTIVENESS OF THE PLEDGE. The equity pledge under this Agreement shall come into effect upon completion of the pledge registration with the administration for industry and commerce.
EFFECTIVENESS OF THE PLEDGE. The effectiveness of the pledge includes all auxiliary items related to the pledged item and other statutory property and rights.
EFFECTIVENESS OF THE PLEDGE. 4.1 In express derogation of Article 1200 of the Civil Code, the Pledge will remain in full force and effect notwithstanding any partial repayment or satisfaction of the Obligations, until the expiry of the Effective Period.
4.2 If the Pledge, for whatsoever reason, ceases to be effective before the expiry of the Effective Period, it shall be created once again by the Pledgor in the event that all or any payment or satisfaction by or on behalf of the relevant Borrower, or any other means of discharging the Obligations, has been revoked or has been declared invalid and/or unenforceable, in whole or in part.
4.3 The Pledge is absolute and unconditional, its validity and existence are independent, and it is additional to any other guarantee or security interest created, currently or in the future, in favour of the Lender as security to all or any of the Obligations.
EFFECTIVENESS OF THE PLEDGE. 1. The liens to be created hereunder in favour of the Collateral Agent shall be senior in all respects and prior to any other liens on the Security Assets, notwithstanding the date, manner or order of grant, attachment or perfection of such other liens.
2. The Pledge shall remain in full force and effect until the expiry of the Security Period.
3. The Pledge shall not be affected by the unused committed credit facility(ies) or temporary repayment of the credit facility(ies) or by the partial fulfilment of the obligations under the Credit Agreement.
4. It is expressly agreed between the Parties to this Pledge Agreement that all rights and claims of the Collateral Agent under this Pledge Agreement shall not be affected or discharged if the Collateral Agent should agree to defer payments, to release any collateral given or to be given, to release the guarantors from their liability under their respective guarantee, or to conclude arrangements of whatsoever kind with the Pledgor.
5. The rights, powers and discretions of the Collateral Agent herein are in addition to and not exclusive of those provided by law, by any agreement with or any security in favour of the Collateral Agent.
6. For the purpose of article 1278 of the Luxembourg civil Code, to the extent required under applicable law and without prejudice to the provisions in the Credit Agreement, the Collateral Agent hereby expressly reserves the preservation of this Pledge and the security interest created hereunder in case of assignment, novation, amendment or any other transfer of the Secured Obligations or any other rights arising for it under the Credit Agreement.
7. Neither the obligations of the Pledgor contained in this Pledge Agreement nor the rights, powers and remedies conferred upon the Collateral Agent by this Pledge Agreement or by law, nor the Pledge created hereby shall be discharged, impaired or otherwise affected by: • any amendment to, or any variation, waiver or release of, any Secured Obligation, except in case of release in accordance with clause 11 upon expiry of the Security Period or as otherwise agreed in writing by the Collateral Agent; • any failure to take, or fully take, any security contemplated by the Loan Documents or otherwise agreed to be taken in respect of the Secured Obligations; NY\6158255.3 • any failure to realise, or fully realise, the value of, or any release, discharge, exchange or substitution of, any security taken in respect of the Secured Obligations, except...
