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 a release of the Pledge over the Relevant Pledged Assets to the credit of a Luxembourg ISA Direct Pledged Securities Account as long as: (a) all outstanding Relevant Secured Liabilities connected with the relevant Luxembourg ISA Direct Pledged Securities Account have not been satisfied in full; and (b) the release of the Pledge over the Relevant Pledged Assets to that Luxembourg ISA Direct Pledged Securities Account has not been irrevocably granted by the Pledgee to the Pledgor in full. CBL will be instructed under the notice of Pledge to CBL not to comply with any unilateral release instructions from the Pledgor unless and until CBL receives a matching notification from the Pledgee.