Common use of Delivery of Stock Collateral Clause in Contracts

Delivery of Stock Collateral. All certificates or instruments representing or evidencing the Stock 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 satisfactory to the Collateral Agent. The Collateral Agent shall have the right, at any time following the occurrence and during the continuation of an Event of Default, without notice to the Pledgor, to transfer to or to register in its name or in the name of any of its nominees any or all of the Stock Collateral. In addition, the Collateral Agent shall have the right at any time to exchange certificates or instruments representing or evidencing any of the Stock Collateral for certificates or instruments of smaller or larger denominations.

Delivery of Stock Collateral. All certificates or instruments representing or evidencing the Stock 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 satisfactory to the Collateral Agent. The Collateral Agent shall have the right, at any time following the occurrence in its discretion and during the continuation of an Event of Default, without notice to the Pledgor, Pledgor to transfer to or to register in its name or in the name of any of its nominees any or all of the Stock Collateral. In addition, the Collateral Agent shall have the right at any time to exchange certificates or instruments representing or evidencing any of the Stock Collateral for certificates or instruments of smaller or larger denominations.