Common use of Perfection of Pledge Clause in Contracts

Perfection of Pledge. Burdale shall be entitled at its option to obtain possession of the Goods in order to perfect the pledge made by Clause 21.1 and in this regard the relevant Facility Company assigns to Burdale its right, title and interest in and to the Documents and all claims and rights arising from them and the relevant Facility Company irrevocably and unconditionally authorises Burdale to do all such things as may be necessary to clear the Goods, take possession of them and realise the Goods in reduction of the relevant Facility Company's indebtedness to Burdale and in this regard the relevant Facility Company irrevocably appoints Burdale acting through any one of Burdale's directors as the relevant Facility Company's agent to sign all such documents and do all such things on the relevant Facility Company's behalf as may be necessary to give effect to the provisions of this Clause 21.2.

Perfection of Pledge. Burdale shall be entitled at its option to obtain possession of the Goods in order to perfect the pledge made by Clause 21.1 and in this regard the relevant Facility Company assigns to Burdale its right, title and interest in and to the Documents and all claims and rights arising from them and the relevant Facility Company irrevocably and unconditionally authorises Burdale to do all such things as may be necessary to clear the Goods, take possession of them and realise the Goods in reduction of the relevant Facility Company's ’s indebtedness to Burdale and in this regard the relevant Facility Company irrevocably appoints Burdale acting through any one of Burdale's ’s directors as the relevant Facility Company's ’s agent to sign all such documents and do all such things on the relevant Facility Company's ’s behalf as may be necessary to give effect to the provisions of this Clause 21.2.