Delivery of Certificated Securities and Instruments. Each Grantor will, after the Closing Date, hold in trust for the Collateral Agent upon receipt and, on or before the date on which financial statements are required to be delivered pursuant to clause (b) and (c) of Section 1 of Annex A-1 of the Note for the reporting period in which the relevant event occurred (or such longer period as the Collateral Agent may reasonably agree), deliver to the Collateral Agent any (1) certificated Security representing or evidencing Pledged Collateral and (2) Instrument (A) in each case under this clause (2), having an outstanding balance in excess of $5,000,000 and (B) in each case under clauses (1) and (2), constituting Collateral received after the date hereof, accompanied by undated instruments of transfer or assignment duly executed in blank. Notwithstanding anything to the contrary in this Security Agreement or any other Transaction Document, no Grantors shall be required to deliver any Tangible Chattel Paper or Document to the Collateral Agent.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Li-Cycle Holdings Corp.), Pledge and Security Agreement (Li-Cycle Holdings Corp.)
Delivery of Certificated Securities and Instruments. Each Grantor will, after the Closing Date, hold in trust for the Collateral Agent upon receipt and, on or before the date on which financial statements are required to be delivered pursuant to clause (b) and (c) of Section 1 of Annex A-1 of the Note for the reporting period in which the relevant event occurred (or such longer period as the Collateral Agent may reasonably agree), deliver to the Collateral Agent any (1) certificated Security representing or evidencing Pledged Collateral and (2) Instrument (A) in each case under this clause (2), having an outstanding balance in excess of $5,000,000 and (B) in each case under clauses (1) and (2), constituting Collateral received after the date hereof, accompanied by undated instruments of transfer or assignment duly executed in blank. Notwithstanding anything to the contrary in this Security Pledge Agreement or any other Transaction Document, no Grantors shall be required to deliver any Tangible Chattel Paper or Document to the Collateral Agent.
Appears in 2 contracts
Samples: Stock Pledge Agreement (Li-Cycle Holdings Corp.), Stock Pledge Agreement (Li-Cycle Holdings Corp.)
