Convertible or Exercisable Collateral. The Secured Party may present for conversion or exercise any Collateral which is convertible or exercisable into any other instrument or investment security or a combination thereof with cash, but the Secured Party shall not have any duty to present for conversion or exercise any Collateral unless it shall have received from Pledgor detailed written instructions to that effect at a time reasonably far in advance of the final conversion date to make such conversion possible. Pledgor shall not present for conversion or exercise any Collateral that is so convertible or exercisable.
Appears in 5 contracts
Samples: Security Agreement (Technest Holdings Inc), Security Agreement (Cord Blood America, Inc.), Security Agreement (Cord Blood America, Inc.)
