Common use of Delivery of Security and Instrument Collateral Clause in Contracts

Delivery of Security and Instrument Collateral. All certificates or instruments representing or evidencing the Collateral shall be delivered to and held by or on behalf of the Collateral Agent pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Collateral Agent. The Collateral Agent shall have the right, as provided in Section 3.6, and during the continuance, of an Event of Default, but without any requirement for prior written notice to the Debtor, to transfer to or to register in the name of the Collateral Agent or any of its nominees any or all of such Collateral. In addition, the Collateral Agent shall have the right at any time during the continuance of an Event of Default to exchange certificates or instruments representing or evidencing Collateral for certificates or instruments of smaller or larger denominations. Except as provided in Section 3.8(d), the Debtor maintains the voting rights in the Securities Collateral (as defined below) which was granted in the Securities Collateral pursuant to Section 1.1(m) and (n).

Appears in 2 contracts

Samples: Security Agreement (Pillowtex Corp), Security Agreement (Pillowtex Corp)

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Delivery of Security and Instrument Collateral. All certificates or instruments representing or evidencing the Collateral shall be delivered to and held by or on behalf of the Collateral Administrative Agent pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Collateral Administrative Agent. The Collateral Administrative Agent shall have the right, as provided in Section 3.63.06, and during after the continuance, occurrence of an Event of DefaultDefault and acceleration of the Obligations, but without any requirement for and with prior written notice to the Debtor, to transfer to or to register in the name of the Collateral Administrative Agent or any of its nominees any or all of such Collateral. In addition, the Collateral Administrative Agent shall have the right at any time during after the continuance occurrence of an Event of Default to exchange certificates or instruments representing or evidencing Collateral for certificates or instruments of smaller or larger denominations. Except as provided in Section 3.8(d3.08(d), the Debtor maintains the voting rights in the Securities Collateral (as defined below) which was granted in the Securities Collateral pursuant to Section 1.1(m1.01(h) and (ni).

Appears in 1 contract

Samples: Security Agreement (Xircom Inc)

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Delivery of Security and Instrument Collateral. All certificates or instruments representing or evidencing the Collateral shall be delivered to and held by or on behalf of the Collateral Agent Administrative Lender pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Collateral AgentAdministrative Lender. The Collateral Agent Administrative Lender shall have the right, as provided in Section 3.6SECTION 3.06, and during after the continuance, occurrence of an Event of Default, but without any requirement for and with prior written notice to the Debtor, to transfer to or to register in the name of the Collateral Agent Administrative Lender or any of its nominees any or all of such Collateral. In addition, the Collateral Agent Administrative Lender shall have the right at any time during after the continuance occurrence of an Event of Default to exchange certificates or instruments representing or evidencing Collateral for certificates or instruments of smaller or larger denominations. Except as provided in Section 3.8(dSECTION 3.08(d), the Debtor maintains the voting rights in the Securities Collateral (as defined below) which was granted in the Securities Collateral pursuant to Section 1.1(m) and (nSECTION 1.01(p).

Appears in 1 contract

Samples: Security Agreement (Power One Inc)

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