Common use of Additional covenant of the Pledgor Clause in Contracts

Additional covenant of the Pledgor. The Pledgor shall not be entitled to notify CBL of the release of the Pledge over the Relevant Pledged Assets to the credit of a Non-CmaX Pledged Account as long as: (a) all outstanding Relevant Secured Liabilities connected with the relevant Non-CmaX Pledged Account have not been satisfied in full; and (b) the release of all pledges (including any Previous Pledge and any Permitted Pledge) over the Relevant Pledged Assets to that Non-CmaX Pledged Account has not been irrevocably granted by the Pledgee to the Pledgor in full. CBL will be instructed under the Joint Notification not to comply with any unilateral release instructions from the Pledgor unless and until CBL receives a matching notification from the Pledgee.

Additional covenant of the Pledgor. The Pledgor shall not be entitled to notify CBL of the a release of the Pledge over the Relevant Pledged Assets to the credit in respect of a Non-CmaX Pledged Account as long as: (a) all outstanding Relevant Secured Liabilities connected with in respect of the relevant Non-CmaX Pledged Account have not been satisfied in full; and (b) the release of all pledges (including any Previous Pledge and any Permitted Pledge) over the Relevant Pledged Assets to in respect of that Non-CmaX Pledged Account has have not been irrevocably granted by the Pledgee to the Pledgor in full. CBL will be instructed under the Joint Notification not to comply with any unilateral release instructions from the Pledgor unless and until CBL receives a matching notification from the Pledgee.