Liquidation of Pledged Securities. (a) Subject to the Account Control Agreement, the Borrower may direct the Custodian to release from the Securities Account and pay to the Secured Party proceeds of the Pledged Securities sufficient to provide for payment then due on the Loan (whether principal or interest) or any other amounts hereunder. Nothing in this section shall affect the Secured Party's rights to direct the application of the Collateral to the payment of amounts due on the Loan upon acceleration thereof. Upon the release of any Collateral from the Securities Account to the Secured Party in accordance with the terms of this section, the security interest evidenced by this Agreement in such released Collateral will automatically terminate and be of no further force and effect.
(b) If an Event of Default has occurred and is continuing, either of the Secured Parties shall be entitled to take market action against any securities held in the Securities Account in accordance with this Agreement, and where appropriate, either of the Secured Parties may execute and file the requisite number of S.E.
Liquidation of Pledged Securities. (a) If an Event of Default has occurred and is continuing, either of the Secured Parties shall be entitled to take market action against any securities held in the Securities Account in accordance with this Agreement, and where appropriate, the Secured Parties may execute and file the requisite number of S.E.
Liquidation of Pledged Securities. The Pledgor agrees that if his debit balance related to the Pledged Securities exceeds the maintenance requirements set by the Pledgee, a maintenance call will be issued and the Pledgor must liquidate a sufficient number of shares of any securities in the Pledgor’s accounts or deposit cash or non-control, non-restricted eligible marginable securities acceptable to the Pledgee in its sole discretion to satisfy the maintenance call. The Pledgor agrees and acknowledges that the Pledgee shall be entitled to liquidate any securities or assets held in the Pledgor’s account in order to satisfy such maintenance call, and where appropriate, the Pledgee may execute and file Form 144 for the requi- site number of securities on behalf of the Pledgor.
