Sale of a pledge Sample Clauses

Sale of a pledge. The bank shall notify the pledgor after the principal debt or part thereof has fallen due that the pledge is to be sold unless the amount overdue is paid within one (1) month of the notification. However, notwithstanding the above the bank has the right to sell the pledge if observance of this deadline apparently caused substantial loss due to a reduction in the value of the pledge. The bank may sell the pledge if the overdue principal debt or part thereof remains unpaid in one month’s time of the date of the aforementioned notification. If the pledge consists of the pledgor’s shares giving the right to possess a flat used mainly as his/her home or of the capital value of the right-of-occupancy dwelling, under the Right-of-Occupancy Housing Act, used by the pledgor mainly as his/her home, the abovementioned deadline will be two (2) months. If the pledge consists of entitlement based on life insurance, the bank may use the surrender value of the policy for payment of the principal debt, provided that the principal debt has first been demanded from the policyholder who has not paid the debt within two (2) months of presenting demand for payment. Pledged funds deposited in an account with the bank may be used for payment of the principal debt as soon as the principal debt has fallen due, irrespective of what has been agreed on the withdrawal of funds and on termination. The pledge may be sold in the manner deemed appropriate by the bank. The pledge will be sold in a manner that is as appropriate as possible for the parties involved but in such a way that the bank’s claims are not at risk. The bank may, without hearing the pledgor, familiarise itself with the asset subject to a lien and show it to prospective buyers and take all measures required for such showing (e.g. with the assistance of a caretaker, house manager or official, enabling entry into the flat with pledged shares entitling its holder to possession of the flat). Before such measures, the bank will inform the pledgor thereof. Immovable property which stands as security will be converted into cash in the order as prescribed in the Execution Act.
Sample 1
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Sale of a pledge. The bank may convert the pledge into cash without hearing the pledgor and calling the debt for separate repayment in respect of the pledgor, without seeking a judgement or ruling or without going through the formalities provided for in the law other than those in mandatory law, when the principal debt of part of it has fallen due for payment. The pledge may be sold in the manner deemed appropriate by the bank. The pledge will be sold in a manner that is as appropriate as possible for the parties involved but in such a way that the bank's claims are not at risk. Pledged funds at the bank are considered to be due for immediate payment regardless of what has been agreed on the withdrawal of the funds and termination. In such a case, the bank has the right to immediately debit the account to the amount of its claim. Then the amount of interest shall be paid on the deposit as agreed in the account agreement from the deposit date until the deposit termination date. The bank may, without hearing the pledgor, familiarise itself with the asset subject to a lien and show it to prospective buyers and take all measures required for such showing (for example with the assistance of a caretaker, house manager or official, enabling entry into the flat with pledged shares entitling its holder to possession of the flat). Before such measures, the bank will inform the pledgor thereof.
Sample 1

Related to Sale of a pledge

  • Sale of Assets The Company or the Bank sells to a third party all or substantially all of its assets.

  • NO STRIKE PLEDGE The Union agrees that during the life of this Agreement, its agents, or its members shall not authorize, instigate, aid, or engage in any work stoppage, slowdown, sick-out, refusal to work, picketing, or strike against the District. If, during the life of this Agreement, the employees, for whatever reason engage in the aforementioned provisions, the Union shall immediately publicly order the striking employees to discontinue such action through the local media. Failure of the Union to take such action shall be subject to enforcement by the ordinary process of law.

  • Sale of Note The Note or a partial interest in the Note, together with this Security Instrument, may be sold or otherwise transferred one or more times. Upon such a sale or other transfer, all of Lender’s rights and obligations under this Security Instrument will convey to Xxxxxx’s successors and assigns.

  • Purchase and Sale of Assets (a) Upon and subject to the terms and conditions of this Agreement, the Buyer shall purchase from the Seller, and the Seller shall sell, transfer, convey, assign and deliver to the Buyer, at the Closing, for the consideration specified below in this Article I, all right, title and interest in, to and under the Acquired Assets.

  • What If I Pledge My Account? If you use (pledge) all or part of your Traditional IRA as security for a loan, then the portion so pledged will be treated as if distributed to you and will be taxable to you as ordinary income during the year in which you make such pledge. The 10% penalty tax on early distributions may also apply in addition to ordinary income taxes.

  • ASSIGNMENT OF AGREEMENT OR SALE OF INTERESTS Concessionaire shall not assign this Agreement or sell controlling interest in the Concession without prior written approval from Department. Any attempt to assign or sell controlling interest without prior written approval from Department shall be a material breach of this Agreement, subject to Suspension of Operations and/or Termination in accordance with the terms and conditions set forth in Paragraphs 9 and 10.

  • Restriction on Sale of Securities (i) During a period of 60 days from the date of the Prospectus, the Company will not, without the prior written consent of the Underwriter directly or indirectly, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock or file any registration statement under the 1933 Act with respect to any of the foregoing or (ii) enter into any swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of Common Stock, whether any such swap or transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing sentence shall not apply to (A) the Securities to be sold hereunder, (B) any shares of Common Stock issued by the Company upon the exercise of an option or warrant or the conversion of a security outstanding on the date hereof and referred to generally in the Registration Statement, the General Disclosure Package and the Prospectus, including shares of Common Stock registered on any registration statement on Form S-8 under the 1933 Act with respect to the foregoing, (C) any shares of Common Stock issued or options to purchase Common Stock granted pursuant to existing employee benefit plans of the Company referred to in the Registration Statement, the General Disclosure Package and the Prospectus, including shares of Common Stock registered on any registration statement on Form S-8 under the 1933 Act with respect to the foregoing, (D) any shares of Common Stock issued pursuant to any non-employee director stock plan or dividend reinvestment plan referred to generally in the Registration Statement, the General Disclosure Package and the Prospectus, including shares of Common Stock registered on any registration statement on Form S-8 under the 1933 Act with respect to the foregoing, or (E) any shares of Common Stock issued by the Company to owners of businesses which the Company may acquire in the future, whether by merger, acquisition of assets or capital stock or otherwise, as consideration for the acquisition of such businesses or to management employees of such businesses in connection with such acquisitions; provided that no more than an aggregate of 10% of the number of shares of Common Stock outstanding as of the Closing Time are issued as consideration in connection with all such acquisitions; provided further, that the Underwriter receive a signed lock up agreement in substantially the form of this Section 3(g)(i) for the balance of the 60-day restricted period (including any 18-day extension thereof as provided for in Section 3(g)(iii)) from the recipients receiving Common Stock in connection with such acquisitions, including such shares registered on Form S-4 under the 1933 Act.

  • Certain Pledges Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

  • Retention or Repurchase of Assets Essential to Receiver (a) The Receiver may refuse to sell to the Assuming Institution, or the Assuming Institution agrees, at the request of the Receiver set forth in a written notice to the Assuming Institution, to assign, transfer, convey, and deliver to the Receiver all of the Assuming Institution's right, title and interest in and to, any Asset or asset essential to the Receiver as determined by the Receiver in its discretion (together with all Credit Documents evidencing or pertaining thereto), which may include any Asset or asset that the Receiver determines to be:

  • SALE OF PROPERTY If the Premises is sold, the Tenant is to be notified of the new Owner, and if there is a new Manager, their contact details for repairs and maintenance shall be forwarded. If the Premises is conveyed to another party, the new owner: (check one) ☐ - Has the right to terminate this Agreement by providing days’ notice to the Tenant. ☐ - Does not have the right to terminate this Agreement.

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