Examples of Dutch Secured Obligations in a sentence
Any sums payable to any Indemnified Party or the Pledgee by the Pledgor, as is contemplated by Clause 12.1, shall be payable by the Pledgor on demand together with interest at the Default Rate from the date of such disbursement by the Pledgee or such Indemnified Party until the same are repaid in full and, pending such repayment, shall constitute part of the Dutch Secured Obligations.
The Pledgee shall not have any obligation whatsoever to exercise any of the powers conferred upon it by Clause 11.1. No action taken by or omitted to be taken by the attorney-in-fact or any substitute in good faith shall give rise to any defence, counterclaim or set-off against the Pledgee or otherwise adversely affect any of the Dutch Secured Obligations.
As security for the payment and discharge of the Dutch Secured Obligations the Pledgor hereby grants to the Pledgee a disclosed first priority right of pledge and, to the extent it concerns future Account Receivables, grants in advance (verpandt bij voorbaat) to the Pledgee a disclosed first priority right of pledge on the Account Receivables and the Pledgee hereby accepts such pledge, which acceptance shall also serve as notice (mededeling) to the Account Bank.
Subject and without prejudice to Clause 8.6, once the Dutch Secured Obligations have been unconditionally and irrevocably paid in full and the Transaction Documents shall have been terminated, the Pledgee will, following a written request therefore from and at the expense of the Pledgor, certify in writing that this Pledge Agreement is terminated and the Account Receivables are released from this Pledge Agreement and do all such further acts and things as the Pledgor may reasonably request.