Delivery of Security Collateral. All certificates or instruments representing or evidencing Security Collateral shall be delivered to and held by or on behalf of the Seller 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 the Seller. In addition, the Seller shall have the right at any time to exchange certificates or instruments representing or evidencing Security Collateral for certificates or instruments of smaller or larger denominations.
Appears in 2 contracts
Samples: Pledge Agreement (Global Telesystems Inc), Pledge Agreement (Alfa Telecom LTD)
Delivery of Security Collateral. All certificates or instruments representing or evidencing the Security Collateral shall be delivered to and held by or on behalf of the Seller Agent for the benefit of the Secured Parties 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 the SellerAgent. In additionIf any Event of Default shall have occurred and be continuing, the Seller Agent shall have the right right, at any time to exchange certificates or instruments representing or evidencing Security Collateral for certificates or instruments of smaller or larger denominations.in its discretion and without
Appears in 2 contracts
Samples: Security and Pledge Agreement (Nextera Enterprises Inc), Security and Pledge Agreement (Nextera Enterprises Inc)
Delivery of Security Collateral. All certificates or instruments representing or evidencing the Security Collateral shall be delivered to and held by or on behalf of the Seller Agent for the benefit of the Secured Parties 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 the Seller. In addition, the Seller shall have the right at any time to exchange certificates or instruments representing or evidencing Security Collateral for certificates or instruments of smaller or larger denominations.sub-
Appears in 1 contract
Samples: Security and Pledge Agreement (Nextera Enterprises Inc)
