Examples of Pledged Item in a sentence
We may at our own discretion exercise any power or right in respect of any Pledged Item (including the right to sell or transfer) on and from any date which an Event of Default occurs.
You agree that you will hold all risk relating to and bear all costs and expenses (including the cost of takaful/insurance, transporting and storing the Trade Goods) incurred in relation to any Pledged Item.
We may apply the proceeds from any sale or transfer of any Pledged Item or any takaful/insurance proceeds relating to the Trade Goods we receive towards the payment of any Payment Obligation.
You must: (i) not sell, encumber or dispose of any Pledged Item or related right unless permitted under the Agreement or otherwise agreed by us in writing; (ii) ensure that all Trade Goods are not commingled with other goods and are clearly marked; and (iii) ensure that any person who is in actual possession of any Trade Goods acknowledges to us in writing that they are held to our order.
Foreclosure of one of the objects of the Pledged Item shall not restrict the Bank from foreclosing on the other object of the Pledged Item and/or its part.
The Borrower undertakes to insure the Pledged Item through an insurance company, the insurance terms of which are approved by the Bank, and to ensure such insurance for the entire period of validity of this Agreement.
The relevant duly executed insurance agreement, insurance policy and notarized pledge (mortgage) agreement of the Pledged Item shall be submitted by the Borrower to the Bank prior to the date / before granting the loan under this Agreement / within (number of days in figures and words) calendar days from the date of signing of this Agreement.
The Pledged Item shall be accepted at the agreed pledge value of the amount of digits (amount in words) soums.
When foreclosing on the Pledged Item and/or a part of this Agreement, the Bank reserves the right to unilaterally choose the first priority object of foreclosure at its discretion and/or make claims against the Policyholder.