ights of Secured Party hereunder, or (iv) the failure of Pledgor to perform or observe any of the provisions hereof; y) To the payment or other satisfaction of any liens, encumbrances, or adverse claims upon or against any of the Collateral; z) To the reimbursement of a Secured Party for the amount of any obligations of Pledgor or any Other Liable Party paid or discharged by such Secured Party pur