Common use of Actions by Secured Parties Clause in Contracts

Actions by Secured Parties. Any action required or permitted hereunder to be taken by or on behalf of the Secured Parties shall, for such action to be valid, require the approval of the Two-Thirds-in-Interest prior to the taking of such action. If the consent, approval or disapproval of the Secured Parties is required or permitted pursuant to this Agreement, such consent, approval or disapproval shall only be valid if given by the Two-Thirds-in-Interest. “Two-Thirds-in-Interest” means the Secured Party or Secured Parties (as the case may be) holding in excess of 2/3 of the outstanding aggregate principal amount under the Debentures, determined on a cumulative basis.

Appears in 2 contracts

Samples: Loan and Securities Purchase Agreement (Aerogen Inc), Loan and Securities Purchase Agreement (Aerogen Inc)

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Actions by Secured Parties. Any action required or permitted hereunder to be taken by or on behalf of the Secured Parties shall, for such action to be valid, require the approval of the Two-ThirdsMajority-in-Interest prior to the taking of such action. If the consent, approval or disapproval of the Secured Parties is required or permitted pursuant to this Agreement, such consent, approval or disapproval shall only be valid if given by the Two-ThirdsMajority-in-Interest. “Two-Thirds"Majority-in-Interest" means the Secured Party or Secured Parties (as the case may be) holding in excess of 2/3 a majority of the outstanding aggregate principal amount under the DebenturesSecurities, determined on a cumulative basis.

Appears in 2 contracts

Samples: Security Agreement (Arotech Corp), Intellectual Property Security Agreement (Arotech Corp)

Actions by Secured Parties. Any action required or permitted hereunder to be taken by or on behalf of the Secured Parties shall, for such action to be valid, require the approval of the Two-ThirdsMajority-in-Interest prior to the taking of such action. If the consent, approval or disapproval of the Secured Parties is required or permitted pursuant to this Agreement, such consent, approval or disapproval shall only be valid if given by the Two-ThirdsMajority-in-Interest. “Two-Thirds"Majority-in-Interest" means the Secured Party or Secured Parties (as the case may be) holding in excess of 2/3 a majority of the outstanding aggregate principal amount under the Debentures, determined on a cumulative basis.

Appears in 2 contracts

Samples: Security Agreement (Arotech Corp), Intellectual Property Security Agreement (Arotech Corp)

Actions by Secured Parties. Any action required or permitted hereunder to be taken by or on behalf of the Secured Parties shall, for such action to be valid, require the approval of the Two-ThirdsMajority-in-Interest prior to the taking of such action. If the consent, approval or disapproval of the Secured Parties is required or permitted pursuant to this Agreement, such consent, approval or disapproval shall only be valid if given by the Two-ThirdsMajority-in-Interest. “Two-Thirds"Majority-in-Interest" means the Secured Party or Secured Parties (as the case may be) holding in excess of 2/3 two-thirds of the outstanding aggregate principal amount under the Debentures, determined on a cumulative basis.

Appears in 1 contract

Samples: Security Agreement (Visual Networks Inc)

Actions by Secured Parties. Any action required or permitted hereunder to be taken by or on behalf of the Secured Parties shall, for such action to be valid, require the approval of the Two-Thirds-in-Interest prior to the taking of such action. If the consent, approval or disapproval of the Secured Parties is required or permitted pursuant to this Agreement, such consent, approval or disapproval shall only be valid if given by the Two-Thirds-in-Interest. “Two-Thirds-in-Interest” means the Secured Party Parties or Secured Parties (as the case may be) holding in excess of 2/3 of the outstanding aggregate principal amount under the Debentures, determined on a cumulative basis.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Earthshell Corp)

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Actions by Secured Parties. Any action required or permitted hereunder to be taken by or on behalf of the Secured Parties shall, for such action to be valid, require the approval of the Two-ThirdsMajority-in-Interest prior to the taking of such action. If the consent, approval or disapproval of the Secured Parties is required or permitted pursuant to this Agreement, such consent, approval or disapproval shall only be valid if given by the Two-ThirdsMajority-in-Interest. “Two-Thirds"Majority-in-Interest" means the Secured Party or Secured Parties (as the case may be) holding in excess of 2/3 50% of the outstanding aggregate principal amount under the DebenturesNotes, determined on a cumulative basis.

Appears in 1 contract

Samples: Security Agreement (Calypte Biomedical Corp)

Actions by Secured Parties. Any action required or permitted hereunder to be taken by or on behalf of the Secured Parties shall, for such action to be valid, require the approval of the Two-ThirdsMajority-in-Interest prior to the taking of such action. If the consent, approval or disapproval of the Secured Parties is required or permitted pursuant to this Agreement, such consent, approval or disapproval shall only be valid if given by the Two-ThirdsMajority-in-Interest. “Two-Thirds"Majority-in-Interest" means the Secured Party Parties or Secured Parties (as the case may be) holding in excess of 2/3 two-thirds of the outstanding aggregate principal amount under the Debentures, determined on a cumulative basis.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Visual Networks Inc)

Actions by Secured Parties. Any action required or permitted hereunder --------------------------- to be taken by or on behalf of the Secured Parties shall, for such action to be valid, require the approval of the Two-ThirdsMajority-in-Interest prior to the taking of such action. If the consent, approval or disapproval of the Secured Parties is required or permitted pursuant to this Agreement, such consent, approval or disapproval shall only be valid if given by the Two-ThirdsMajority-in-Interest. “Two"MAJORITY-ThirdsIN-in-Interest” INTEREST" means the Secured Party or Secured Parties (as the case may be) holding in excess of 2/3 a majority of the outstanding aggregate principal amount under the Debentures, determined on a cumulative basis.

Appears in 1 contract

Samples: Security Agreement (Electric Fuel Corp)

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