Administration of Security. The following provisions shall govern the administration of the Pledged Shares:
Administration of Security. The following provisions shall govern the -------------------------- administration of the Pledged Securities:
Administration of Security. The following provisions shall govern the administration of the Pledged Collateral:
Administration of Security. The following provisions shall govern the administration of the Pledged Interests:
Administration of Security. (a) Each Pledgor shall be entitled (subject to the other provisions hereof, including, without limitation, Section 8 below):
Administration of Security. The following provisions shall govern the administration of the Pledged Options:
Administration of Security. The following provisions shall govern the administration of Secured Securities:
Administration of Security. The following provisions shall govern the administration of any Pledged Interests: (a) Each Pledgor shall be entitled (subject to the other provisions hereof, including, without limitation, Section 9 below): (i) so long as no Event of Default has occurred and is continuing, to vote or consent with respect to its respective Pledged Interests in any manner permitted or not inconsistent with this Agreement and the Settlement Agreement; and (ii) subject to Section 6(b) below, to receive and retain Excluded Dividends. Each Pledgor hereby grants to Pledgee or its nominee, on behalf of Pledgee, an irrevocable proxy to exercise all voting, consent and other governance rights relating to its Pledged Interests in any instance, which proxy shall only be exercisable upon the occurrence and during the continuance of an Event of Default. Upon the request of Pledgee, the Pledgor agrees to deliver to Pledgee such further evidence of such irrevocable proxy or such further irrevocable proxies to vote the Pledged Interests as Pledgee may request. (b) In the event that any Pledgor, as record and beneficial owner of the Pledged Interests, shall have received or shall have become entitled to receive any cash dividends, distributions or other payments (other than Excluded Dividends) in respect of the Pledged Interests, such Pledgor shall deliver to Pledgee, and Pledgee, for its own benefit, shall be entitled to receive, all such amounts as additional Collateral, and Pledgee shall be entitled to apply all such amounts to prepay the Installments pursuant to Section 2(c)(iii) of the Settlement Agreement. 6 (c) Upon the indefeasible payment in full of all of the Liabilities, but subject to Section 2(f) of the Settlement Agreement and Section 16(b) below, any remaining Pledged Interests and any other remaining tangible Collateral shall be delivered to the applicable Pledgor not later than ninety-five (95) days after the full satisfaction of the Moyes Parties’ obligation to pay the Settlement Obligations. Section 7.
Administration of Security. 23.1 The Banks hereby irrevocably authorise the Security Agent, free from the restrictions pursuant to (S) 181 BGB, to enter into all agreements necessary for the granting of the accessory security. Without prejudice to the restrictions governing the relationship of the members of the Bank consortium inter se the Security Agent is further authorised to enter into all necessary agreements for the granting of security pursuant to (S) 8 in their name, to amend and to supplement the same and to exercise all rights of control, administration and disposition arising under the Security Documents also in relation to the accessory security in its own name and free from the restrictions set out in (S) 181 BGB. As between the Banks (internally), a resolution passed with a majority of 75 % of the votes of the Banks shall be required in respect of the release of any security, whether in whole or in part save to the extent unanimity is required pusuant to (S) 22.6. The Security Agent shall be released from all restrictions pursuant to (S) 181 BGB in connection with all action taken in respect of the security.
Administration of Security. The following provisions shall govern the administration of the Pledged Equity:
