Common use of Right to Enforce the Pledge Clause in Contracts

Right to Enforce the Pledge. (a) If any Debtor fails to pay any of the Secured Receivables or a part thereof duly, fully and timely, the Pledgee shall be entitled to enforce its rights under this Agreement and to satisfy its claims under the due and payable Secured Receivables by enforcement of the Pledge. (b) For the purposes of application of Section 151j (4) of the Civil Code, each smallest and reasonable divisible part of the Movable Assets represents an individual and separate pledge.

Right to Enforce the Pledge. (a) If any Debtor fails to pay any of the Secured Receivables or a part thereof duly, fully and timely, the Pledgee shall be entitled to enforce its rights under this Agreement and to satisfy its claims under the due and payable Secured Receivables by enforcement of the Pledge. (b) For the purposes of application of Section 151j (4) of the Civil Code, each smallest and reasonable divisible part of the Movable Assets represents an individual and separate pledge.