Common use of Limitation on realisation Clause in Contracts

Limitation on realisation. The Pledgee shall realise the Relevant Pledged Assets only to the extent necessary to recover the Relevant Secured Liabilities that are due. To the extent that, notwithstanding the reasonable efforts of the Pledgee to comply with the provisions of the first sentence of this Clause 7.3, the cash proceeds received by the Pledgee in respect of any realisation of all or any part of the Relevant Pledged Assets exceed the amount of the Relevant Secured Liabilities due at that time, such excess proceeds shall be returned to the Pledgor or the Third Party Pledge Holder as Basic Clearing Member Margin for the Pledgor, in accordance with the instructions of the Pledgor to the Pledgee.

Limitation on realisation. The Pledgee shall realise the Relevant Pledged Assets only to the extent necessary to recover the Relevant Secured Liabilities that are due. To the extent that, notwithstanding the reasonable efforts of the Pledgee to comply with the provisions of the first sentence of this Clause 7.3, the cash proceeds received by the Pledgee in respect of any realisation of all or any part of the Relevant Pledged Assets exceed the amount of the Relevant Secured Liabilities due at that time, such excess proceeds shall be returned to the Pledgor or the Third Party Pledge Holder as Basic Clearing Member ISA Direct Margin for the Pledgor, in accordance with the instructions of the Pledgor to the Pledgee.