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Subject: thereby derogating Section law Following a notice from the Pledgee that an Enforcement Event has occurred, only the Pledgee [имелось в виду Pledgor?] shall be entitled to exercise the rights in respect of, or make withdrawals from, the Account (thereby derogating Section 1281 of the German Civil Code to the extent applicable), and the Account Bank shall, following such notice, (i) no longer comply with any instructions from the Pledgor (without prejudice to the first sentence of this Clause 5) and (ii) promptly follow any instructions of the Pledgor with respect to the Account without any confirmation from or hearing of, the Pledgor.
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