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

Delivery of Security Collateral and Account Collateral. Subject to Sections 7(f), all certificates or instruments representing or evidencing Security Collateral or Account Collateral shall, at the request of either Administrative Agent, be delivered to and held by or on behalf of such 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 satisfactory to such Administrative Agent. Each Administrative Agent shall have the right, upon the occurrence and during the continuance of an Event of Default, without notice to any Grantor, to transfer to or to register in the name of the such Administrative Agent or any of its nominees any or all of the Security Collateral and Account Collateral. In addition, each Administrative Agent shall have the right upon the occurrence of and during the continuance of an Event of Default to exchange instruments representing or evidencing Security Collateral or Account Collateral, for instruments of smaller or larger denominations.

Delivery of Security Collateral and Account Collateral. Subject to Sections 7(f), all All certificates or and instruments representing or evidencing Security Collateral or Account Collateral shall, at the request of either Administrative Agent, shall be delivered to and held by or on behalf of such the 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 such Administrative the Agent. Each After the occurrence and during the continuance of any Event of Default, the Administrative Agent shall have the right, upon the occurrence at any time in its discretion and during the continuance of an Event of Default, without notice to any Grantor, to transfer to or to register in the name of the such Administrative Agent or any of its nominees any or all of the Security Collateral and the Account Collateral, subject only to the revocable rights specified in Section 12(a). In addition, each Administrative Agent shall have the right upon after the occurrence of and during the continuance of an Event of Default Default, the Administrative Agent shall have the right at any time to exchange certificates or instruments representing or evidencing Security Collateral or Account Collateral, Collateral for certificates or instruments of smaller or larger denominations.

Delivery of Security Collateral and Account Collateral. Subject to Sections 7(f), all All ------------------------------------------------------ certificates or instruments representing or evidencing Security Collateral or Account Collateral shall, at the request of either Administrative Agent, shall be delivered to and held by or on behalf of such the 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 such the Administrative Agent. Each The Administrative Agent shall have the right, upon at any time after the occurrence and during the continuance of an Event of Default, in its discretion and without notice to any Grantor, to transfer to or to register in the name of the such Administrative Agent or any of its nominees any or all of the Security Collateral and Account Collateral, subject only to the revocable rights specified in Section 14(a). In addition, each the Administrative Agent shall have the right upon the occurrence of and during the continuance of an Event of Default at any time to exchange certificates or instruments representing or evidencing Security Collateral or Account Collateral, Collateral for certificates or instruments of smaller or larger denominations.