Common use of Additional Rights if Collateral Includes Unregistered Security Clause in Contracts

Additional Rights if Collateral Includes Unregistered Security. If the Collateral includes any Security required to be registered pursuant to applicable law (including, but not limited to, the Securities Act of 1933) before being permitted to be sold or otherwise disposed of, or offered for sale or other disposition, by the Secured Party and upon or at any time after any occurrence or existence of any Event of Default the Secured Party opts for any sale or other disposition of such Security without such registration, (i) the Secured Party shall not be obligated to delay such sale or other disposition to permit such registration, and (ii) in order to comply with such law, the Secured Party shall have the right to restrict the prospective purchasers in such sale or other disposition (including, but not limited to, restricting such prospective purchasers to Persons meeting specified requirements as to financial sophistication or intent to purchase for investment and not with a view to sale or other disposition), restrict the terms of such sale or other disposition (including, but not limited to, restricting future sales and other dispositions) and impose other restrictions on any aspect of such sale or other disposition (including, but not limited to, the advertising or conduct thereof).

Additional Rights if Collateral Includes Unregistered Security. If the Collateral includes any Security required to be registered pursuant to applicable law (including, but not limited to, the Securities Act of 1933) before being permitted to be sold or otherwise disposed of, or offered for sale or other disposition, by the Secured Party and upon or at any time after any occurrence or existence and continuance of any Event of Default the Secured Party opts for any sale or other disposition of such Security without such registration, (i) the Secured Party shall not be obligated to delay such sale or other disposition to permit such registration, and (ii) in order to comply with such law, the Secured Party shall have the right to restrict the prospective purchasers in such sale or other disposition (including, but not limited to, restricting such prospective purchasers to Persons meeting specified requirements as to financial sophistication or intent to purchase for investment and not with a view to sale or other disposition), restrict the terms of such sale or other disposition (including, but not limited to, restricting future sales and other dispositions) and impose other restrictions on any aspect of such sale or other disposition (including, but not limited to, the advertising or conduct thereof).