In the event stated in article (9-13) of this Module, the Investment Portfolio Manager and Clearing Agency, as the case may be, shall execute the creditor pledgor’s instructions concerning the ownership or sale or execution of the Securities and the fulfilment of the creditor’s rights upon a formal written notice sent to the debtor and Guarantor In Kind, if any, in accordance with the mechanism stated in the pledge agreement. The said formal notice shall be sent at least five Business Days prior to the date of acquiring ownership or sale. The sale may only be applied to cover payment to the creditor pledgee, who shall take due care in the disposal of money in the course of Securities’ sale, execution or acquiring ownership.