Common use of Retention of Pledged Collateral Clause in Contracts

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Pledgee, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, may retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Pledgee shall have provided such notices, however, the Pledgee shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of DefaultDefault and during the continuation thereof, the PledgeeLender may, after providing the notices required by Section 9-505(2) 621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, may retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Pledgee Lender shall have provided such notices, however, the Pledgee Lender shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the PledgeeLender may, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, may retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Pledgee Lender shall have provided such notices, however, the Pledgee Lender shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.