Common use of Delivery of Certificated Pledged Equity Clause in Contracts

Delivery of Certificated Pledged Equity. Subject to Section 3.5(b) hereof, each Pledgor represents and warrants as of the Effective Date that all certificates representing or evidencing the Pledged Equity in existence on the Effective Date have been delivered to the Administrative Agent in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank and that the Administrative Agent has a perfected first priority security interest therein (subject to Permitted Liens). Each Pledgor hereby agrees that all certificates representing or evidencing Pledged Equity acquired by such Pledgor after the Effective Date shall, in accordance with the terms of Section 5.10 of the Credit Agreement, be delivered to the Administrative Agent in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Administrative Agent. The Administrative Agent shall have the right, at any time upon the occurrence and during the continuance of any Event of Default, to endorse, assign or otherwise transfer to or to register in the name of the Administrative Agent or any of its nominees or endorse for negotiation any or all of the Pledged Equity, without any indication that such Pledged Equity is subject to the security interest hereunder.

Delivery of Certificated Pledged Equity. Subject to Section 3.5(b) hereof, each the Pledgor represents and warrants as of the Effective Date that all certificates representing or evidencing the Pledged Equity in existence on the Effective Date have been delivered to the Administrative Agent in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank and that the Administrative Agent has a perfected first priority security interest therein (subject to Permitted Liens). Each The Pledgor hereby agrees that all certificates representing or evidencing Pledged Equity acquired by such the Pledgor after the Effective Date shall, in accordance with the terms of Section 5.10 of the Credit Agreement, be delivered to the Administrative Agent in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Administrative Agent. The Administrative Agent shall have the right, at any time upon the occurrence and during the continuance of any Event of Default, to endorse, assign or otherwise transfer to or to register in the name of the Administrative Agent or any of its nominees or endorse for negotiation any or all of the Pledged Equity, without any indication that such Pledged Equity is subject to the security interest hereunder.

Delivery of Certificated Pledged Equity. Subject to Section 3.5(b) hereof, each Pledgor represents and warrants as of the Effective Date that all certificates representing or evidencing the Pledged Equity in existence on the Effective Date have been delivered to the Administrative Agent in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank and that the Administrative Agent has a perfected first priority security interest therein (subject to Permitted Liens). Each Pledgor hereby agrees that all certificates representing or evidencing Pledged Equity acquired by such Pledgor after the Effective Date shall, within 30 days (or such longer period of time as the Administrative Agent may agree in its sole discretion) of the end of the fiscal quarter in which such Pledged Equity was acquired, if not sooner required in accordance with the terms of Section 5.10 of the Credit Agreement, be delivered to the Administrative Agent in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Administrative Agent. The Administrative Agent shall have the right, at any time upon the occurrence and during the continuance of any Event of Default, to endorse, assign or otherwise transfer to or to register in the name of the Administrative Agent or any of its nominees or endorse for negotiation any or all of the Pledged Equity, without any indication that such Pledged Equity is subject to the security interest hereunder.