Common use of Rights of the Security Agent Clause in Contracts

Rights of the Security Agent. When the pledge under the Agreement becomes executable, the Security Agent has the right to, pursuant to the instructions of the Instructing Group, immediately execute and exercise all powers and remedial measures available to it as the Pledgee of the Pledged CDs, including but not limited to the following (and the Security Agent shall notify the Pledgor when it adopts any such measures): (a) Directly producing the Pledged CDs to the Account Control Bank to require payment; (b) Instituting (or instructing the Pledgor to institute as per its requirements) all litigation, arbitration, administrative or legal proceedings in connection with all or any Pledged CDs, and proceeding with, settling or releasing any claims in connection with the Pledged CDs; and/or (c) For the above purposes, adopting and signing all relevant actions, contracts and items that the Security Agent deems reasonably necessary or appropriate.