Common use of Other Rights and Obligations of the Parties Clause in Contracts

Other Rights and Obligations of the Parties. The Pledgor is authorized to use the Collateral and its product so that the Collateral is not impaired unless the impairment is caused by the normal economic use of Collateral. The Pledgor shall protect the Collateral from Third Parties’ infringement and claims. Furthermore, immediately notify the Bank, if a Third party institutes an action against it, if particulars of the claim relate to the termination or limitation of the Pledgor’s title to the Collateral, its portion, product and/or improvement.