Liability of Pledgee Sample Clauses

The 'Liability of Pledgee' clause defines the responsibilities and potential legal exposure of the pledgee—the party holding collateral as security for a debt or obligation. Typically, this clause outlines the pledgee's duty to exercise reasonable care in preserving and managing the pledged assets, such as ensuring the assets are not damaged or lost due to negligence. It may also specify circumstances under which the pledgee is or is not liable for losses related to the collateral. The core function of this clause is to allocate risk and clarify the extent of the pledgee's obligations, thereby protecting both parties from misunderstandings or disputes regarding the handling of pledged property.
Liability of Pledgee. The Pledgee shall not be liable to account as mortgagee in possession in respect of all or any of the Secured Property and shall not be liable for any loss upon realisation or for any neglect or default to present any interest coupon or any bond or stock drawn for repayment or for any failure to pay any call or instalment or to accept any offer or to notify the Shareholder of any such matter or for any other loss of any nature whatsoever in connection with the Secured Property.
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Liability of Pledgee. Pledgor hereby agrees that Pledgee will not be chargeable for any negligence, mistake, act or omission of any employee, accountant, examiner, agent or attorney employed by Pledgee (except for the willful misconduct of any person, corporation, partnership or other entity employed by Pledgee) in making examinations, investigations or collections, or otherwise in perfecting, maintaining, protecting or realizing upon any lien or security interest or any other interest in the Collateral or other security for the Obligations.
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Liability of Pledgee. 10 11. Responsibility of the Pledgee.....................................10 12. Expenses..........................................................10 13. Notices...........................................................11 14. General...........................................................12 FLOATING CHARGE AGREEMENT BETWEEN:
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Liability of Pledgee. To the fullest extent permitted by applicable laws of the PRC, the Pledgee shall not in any circumstances (either by reason of taking possession of the Pledged Property or for any other reason): (a) be liable to account to the Pledgor or any other person for anything except the Pledgee’s own actual receipts which have not been distributed or paid to the persons entitled thereto; or (b) be liable to the Pledgor for any costs, charges, losses, liabilities or expenses arising from or connected with the enforcement of the Pledge or from any act or omission of the Pledgee, its officers, employees or agents in relation to the Pledged Property or from any exercise or non-exercise by the Pledgee of any right exercisable by it under this Pledge Agreement unless such costs, charges, losses, liabilities or expenses are caused, directly or indirectly, by the Pledgee’s willful default or gross negligence.
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Liability of Pledgee. The Pledgee shall not be liable to the Pledgor, any Secured Party or any other person for any costs, losses, liabilities or expenses relating to the realisation of any Pledged Assets or from any act, default, omission or misconduct of the Pledgee or its officers, employees or agents in relation to the Pledged Assets or in connection with the Loan Documents, except to the extent caused by its or his own gross negligence or wilful misconduct.
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Liability of Pledgee. (a) The Pledgee shall not be liable for any acts or omissions with respect to the Business pledged hereunder or the enforcement or the losses arising in connection with the exercise of any of its rights and powers hereunder, save for liabilities and expenses arising from the gross negligence (faute grave/grove ▇▇▇▇) or wilful misconduct of the Pledgee. (b) The Pledgee shall not be under any obligation to the Pledgor to take any steps necessary to preserve any rights in the Business against any other parties but may do so at its option, and all reasonable expenses incurred in connection therewith shall be for the account of the Pledgor and shall be part of the Secured Obligations. (c) If any such expenses are borne by the Pledgee, the Pledgor shall on first demand reimburse the Pledgee therefor, and its reimbursement obligation shall be part of the Secured Obligations.
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Related to Liability of Pledgee

  • Exercise of Pledge 8.1 Pledgee shall issue a written Notice of Default to Pledgor when it exercises the Pledge. 8.2 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 8.1. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.3 After Pledgee issues a Notice of Default to Pledgor in accordance with Section 8.1, Pledgee may exercise any remedy measure under applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest. The Pledgee shall not be liable for any loss incurred by its duly exercise of such rights and powers. 8.4 The proceeds from exercise of the Pledge by Pledgee shall be used to pay for tax and expenses incurred as result of disposing the Equity Interest and to perform Contract Obligations and pay the Secured Indebtedness to the Pledgee prior and in preference to any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned to Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary public office where Pledgor resides, with all expense incurred being borne by Pledgor. To the extent permitted under applicable PRC laws, Pledgor shall unconditionally donate the aforementioned proceeds to Pledgee or any other person designated by Pledgee. 8.5 Pledgee may exercise any remedy measure available simultaneously or in any order. Pledgee may exercise the right to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest under this Agreement, without exercising any other remedy measure first. 8.6 Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf, and Pledgor or Party C shall not raise any objection to such exercise. 8.7 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

  • Release of Pledge 3.1 After the Pledgors and the Company fully and completely perform all of the Contractual Obligations and discharge all of the Secured Liabilities, the Pledgee shall, upon the Pledgors’ request, release the Equity Pledge under this Agreement and cooperate with the Pledgors to cancel the registration of the Equity Pledge on the Company’s register of shareholders and with the administration of industry and commerce in charge of the Company. The Pledgee shall assume the reasonable expenses arising out of the release of the Equity Pledge.

  • Term of Pledge 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

  • Release of Pledged Collateral The Administrative Agent may release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority lien on all Pledged Collateral not expressly released or substituted.

  • Effect of Pledge on Certain Rights If any of the Collateral subject to this Agreement consists of nonvoting equity or ownership interests (regardless of class, designation, preference or rights) that may be converted into voting equity or ownership interests upon the occurrence of certain events (including, without limitation, upon the transfer of all or any of the other stock or assets of the issuer), it is agreed that the pledge of such equity or ownership interests pursuant to this Agreement or the enforcement of any of Agent’s rights hereunder shall not be deemed to be the type of event which would trigger such conversion rights notwithstanding any provisions in the Organizational Documents or agreements to which any Debtor is subject or to which any Debtor is party.