Common use of Perfection of Pledge Clause in Contracts

Perfection of Pledge. 3.1 The Pledgor shall immediately upon the execution of this Agreement deliver to a third party as directed by the Security Trustee the Floating Charge Certificates or procure that such delivery is made in accordance with Clause 3.3. 3.2 The Pledgor shall do all things and acts requested by the Security Trustee to assist the Security Trustee in notifying the Floating Charge Register of the Encumbrance created by this Agreement by sending an application and notice to the Register in the form set out in Schedule 1. 3.3 On the Closing Date the Pledgor shall procure a) that a third party as directed by the Security Trustee receives from Nordea all Floating Charge Certificates, which shall be duly endorsed in blank by the Pledgor, whereupon a third party as directed by the Security Trustee shall hold the Floating Charge Certificates as duly authorised representative of the Secured Parties; and b) that Nordea notifies the Floating Charge Register of the release of the Nordea Pledge over the Floating Charge. 3.4 The Pledgor shall throughout the term of this Agreement do all things and acts requested by the Security Trustee to assist the Security Trustee in taking all actions required to perfect and maintain the perfection of the pledge created by this Agreement.