Assumption of Collateral Agent’s Rights. Notwithstanding anything herein to the contrary, if at any time no Person constitutes the Collateral Agent hereunder or the Collateral Agent fails to act upon written directions from the parties hereto, the Majority Purchasers shall be entitled to exercise any power, right or privilege granted to the Collateral Agent and in so acting the Majority Purchasers shall have the same rights, privileges, indemnities and protections provided to the Collateral Agent hereunder.
Appears in 6 contracts
Samples: Revenue Sharing and Note Purchase Agreement (Inventergy Global, Inc.), Revenue Sharing and Securities Purchase Agreement (Marathon Patent Group, Inc.), Revenue Sharing and Note Purchase Agreement (Andrea Electronics Corp)
Assumption of Collateral Agent’s Rights. Notwithstanding anything herein to the contrary, if at any time no Person constitutes the Collateral Agent hereunder or the Collateral Agent fails to act upon written directions from the parties hereto, the Majority Purchasers Investors shall be entitled to exercise any power, right or privilege granted to the Collateral Agent and in so acting the Majority Purchasers Investors shall have the same rights, privileges, indemnities and protections provided to the Collateral Agent hereunder.
Appears in 1 contract
Samples: Investment Agreement (Document Security Systems Inc)
