Common use of PERFECTION OF THE PLEDGE Clause in Contracts

PERFECTION OF THE PLEDGE. 3.1. The Pledgor shall (i) within ten (10) Business Days of the date of this Agreement, notify this Pledge to the Bank, such notice to be substantially in the form set out in Schedule 1, and (ii) use reasonable endeavours to obtain, within twenty (20) Business Days, a duly executed acknowledgement substantially in the form set out in Schedule 2 hereto duly executed by the Bank, provided that, if the Pledgor has not been able to obtain such acknowledgment, any obligation to obtain such acknowledgement shall cease on the expiry of the aforementioned twenty (20) Business Days. 3.2. Upon execution by the Bank of the aforementioned acknowledgement and by virtue of the execution of this Agreement, the Pledge shall be perfected in accordance with Article 5 of the Financial Collateral Law. 3.3. In respect of any Future Account, the Pledgor undertakes to reiterate the formalities referred to in Clauses 3.1 to and including 3.2 above upon a written request from the Pledgee (such request not to be made more than once annually or before the first anniversary of the Interim Closing Date).

PERFECTION OF THE PLEDGE. 3.1. The Pledgor shall (i) within ten (10) Business Days of the date of this Agreement, notify this Pledge to the Bank, such notice to be substantially in the form set out in Schedule 1, and (ii) use reasonable endeavours to obtain, within twenty (20) Business Days, a duly executed acknowledgement substantially in the form set out in Schedule 2 hereto duly executed by the Bank, provided that, if the Pledgor has not been able to obtain such acknowledgment, any obligation to obtain such acknowledgement shall cease on the expiry of the aforementioned twenty (20) Business Days. 3.2. Upon execution by the Bank of the aforementioned acknowledgement and by virtue of the execution of this Agreement, the Pledge shall be perfected in accordance with Article 5 of the Financial Collateral Law. 3.3. In respect of any Future Account, the Pledgor undertakes to reiterate the formalities referred to in Clauses 3.1 Error! Reference source not found. to and including 3.2 above upon a written request from the Pledgee (such request not to be made more than once annually or before the first anniversary of the Interim Closing Date).

PERFECTION OF THE PLEDGE. 3.1. The Pledgor shall (i) within ten (10) Business Days of the date of this Agreement, notify this Pledge to the Bank, such notice to be substantially in the form set out in Schedule 1, and (ii) use reasonable endeavours to obtain, within twenty (20) Business Days, a duly executed acknowledgement substantially in the form set out in Schedule 2 hereto duly executed by the Bank, provided that, if the Pledgor has not been able to obtain such acknowledgment, any obligation to obtain such acknowledgement shall cease on the expiry of the aforementioned twenty (20) Business Days. 3.2. Upon execution by the Bank of the aforementioned acknowledgement and by virtue of the execution of this Agreement, the Pledge shall be perfected in accordance with Article 5 of the Financial Collateral Law. 3.3. In respect of any Future Account, the Pledgor undertakes to reiterate the formalities referred to in Clauses 3.1 Error! Reference source not found. to and including 3.2 Error! Reference source not found. above upon a written request from the Pledgee (such request not to be made more than once annually or before the first anniversary of the Interim Closing Date).