Collateral Maintenance and Administration. (a) The parties hereto agree that at all times prior to an exercise of remedies hereunder, Pledgor shall be treated as the owner of the Collateral for U.S. Federal and state tax purposes. (b) Unless an Indemnification Trigger Event (as defined below) has occurred and is continuing, subject to the Standstill (as defined below), (i) Secured Party shall not have the right to rehypothecate, use, borrow, lend, pledge or sell the Collateral Shares or give any entitlement orders or instructions with respect to the Collateral, except with Pledgor’s consent, and (ii) subject to the FSFR Voting Agreement, Pledgor shall retain all voting rights with respect the Collateral Shares.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Oaktree Strategic Income Corp), Pledge and Security Agreement (Fifth Street Asset Management Inc.), Pledge and Security Agreement (Tannenbaum Leonard M)
Collateral Maintenance and Administration. (a) The parties hereto agree that at all times prior to an exercise of remedies hereunder, Pledgor shall be treated as the owner of the Collateral for U.S. Federal and state tax purposes.
(b) Unless an Indemnification Trigger Event (as defined below) has occurred and is continuing, subject to the Standstill (as defined below), (i) Secured Party shall not have the right to rehypothecate, use, borrow, lend, pledge or sell the Collateral Shares or give any entitlement orders or instructions with respect to the Collateral, except with Pledgor’s consent, and (ii) subject to the FSFR FSC Voting Agreement, Pledgor shall retain all voting rights with respect the Collateral Shares.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Fifth Street Asset Management Inc.), Pledge and Security Agreement (Oaktree Specialty Lending Corp), Pledge and Security Agreement (Tannenbaum Leonard M)
