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1.The judgment of the first instance, including the second preliminary claim added at the trial, shall be amended as follows:
Reasons
Basic Facts
On December 11, 2006, Korea Exchange Bank Co., Ltd. (hereinafter “Korea Exchange Bank”) entered into a credit transaction agreement with Onnuri L&AD Co., Ltd. (hereinafter “Korea Exchange D&D”) with an agreed amount of KRW 1 billion, three months after the due date of the agreement, three months after the due date of the agreement, and one billion won in terms of the market interest rate base rate (MB)-0.59%, and lent it to Onnuri L&D.
Article 1 Establishment of Pledge Right
2. Limited amount of security: 1.3 billion won.
3. A period for settlement of accounts of pledge rights: In such cases, in the future, the pledger may designate a period for settlement of accounts after the lapse of three years from the date of the contract in writing, and the period for settlement of accounts shall be 14 days after the date of delivery of the notice, and if it falls short thereof, it shall be 14 days after the date of delivery of the notice.
Article IISpecial Terms and Conditions
1. Where the standard market price of golf course membership falls below 30% compared to the time of acquisition of collateral, repayment of credit or provision of additional security for such decline;
2. Where the standard market price of golf course membership falls below the credit amount, the benefit of time shall be immediately lost, and banks may dispose of the membership right to golf course and appropriate it for the repayment of credit;
The Defendant (G Co., Ltd.) entered into a pledge agreement (hereinafter “instant pledge agreement”) with the Korea Exchange Bank to secure the above loan obligations owed by the Korea Exchange Bank on the same day by the Korea Exchange Bank of Korea, as set forth in the attached list of security owned by the Defendant on the part of the Korea Exchange Club golf club owners (hereinafter “instant golf club membership”) on the list of collateral rights (hereinafter “instant golf club membership”).
After that, the Korea Exchange Bank shall, at the request of the Korea LAWn&D, lend the above loans over three times in total.