Common use of Appointment of Sub-Agents Clause in Contracts

Appointment of Sub-Agents. The Pledgee shall have the right to appoint one or more sub-agents for the purpose of retaining physical possession of the Collateral, which may be held (in the discretion of the Pledgee) in the name of the Pledgee, as pledgee, or endorsed or assigned in blank or in favor of the Pledgee, as pledgee, or any nominee or nominees of the Pledgee or a sub-agent appointed by the Pledgee. The Pledgee agrees to promptly notify the relevant Pledgor after the appointment of any sub-agent; provided, however, that the failure to give such notice shall not affect the validity of such appointment.

Appointment of Sub-Agents. The Pledgee shall have the right to appoint one or more sub-agents for the purpose of retaining physical possession of the CollateralCollateral if it shall be held in certificated form, which may be held (in the discretion of the Pledgee) in the name of the PledgeePledgor, as pledgee, or endorsed or assigned in blank or in favor of the Pledgee, as pledgee, Pledgee or any nominee or nominees of the Pledgee or a sub-agent appointed by the Pledgee. The Pledgee agrees to promptly notify the relevant Pledgor after the appointment of any sub-agent; provided, however, that the failure to give such notice shall not affect the validity of such appointment.

Appointment of Sub-Agents. The Pledgee shall have the right to appoint one or more sub-agents for the purpose of retaining physical possession of the Collateral, which may be held (in the discretion of the Pledgee) in the name of the Pledgeeeach Pledgor, as pledgee, or endorsed or assigned in blank or in favor of the Pledgee, as pledgee, Pledgee or any nominee or nominees of the Pledgee or a sub-agent appointed by the Pledgee. The Pledgee agrees to promptly notify the relevant each Pledgor after the appointment of any sub-agent; provided, however, that the failure to give such notice shall not affect the validity of such appointment.