Equity Collateral Clause Samples
The Equity Collateral clause defines the use of equity securities, such as shares or stock, as collateral to secure obligations under an agreement. In practice, this clause outlines the types of equity instruments that can be pledged, the procedures for perfecting the security interest, and the rights of the secured party in the event of default, such as the ability to sell or transfer the equity. Its core function is to provide assurance to the secured party by granting them a claim over valuable equity assets, thereby reducing credit risk and enhancing the enforceability of the agreement.
Equity Collateral. (1) Except for sales or other transfers of ownership interests that are permitted under the Indenture and the Working Capital Agreement, the Obligors will cause the Equity Collateral to constitute at all times all ownership interests of any class or character of each Guarantor then outstanding.
(2) So long as no Event of Default shall have occurred and be continuing, the Obligors shall have the right to exercise all voting, consensual and other powers of ownership pertaining to the Equity Collateral for all purposes not inconsistent with the terms of this Agreement, the Indenture or any Transaction Document; provided that the Obligors jointly and severally agree that they will not vote the Equity Collateral in any manner that is inconsistent with the terms of this Agreement, the Indenture or any such other instrument or agreement unless so required by law; and the Collateral Agent shall execute and deliver to the Obligors or cause to be executed and delivered to the Obligors all such proxies, powers of attorney, dividend and other orders, and all such instruments, without recourse, as the Obligors may reasonably request in writing for the purpose of enabling the Obligors to exercise the rights and powers that they are entitled to exercise pursuant to this Section 5.04(a)(2). NRG Northeast Security Agreement
(3) Unless and until an Event of Default has occurred and is continuing, the Obligors shall be entitled to receive and retain any dividends on the Equity Collateral paid in cash or other property out of earned surplus.
(4) If an Event of Default shall have occurred, then so long as such Event of Default shall continue, and whether or not the Collateral Agent or any Secured Party exercises any available right to declare any Secured Obligation due and payable or seeks or pursues any other relief or remedy available to it under applicable law or under this Agreement, the Indenture, the Working Capital Agreement or any other agreement relating to such Secured Obligation, all dividends and other distributions on the Equity Collateral shall be paid directly to the Collateral Agent and retained by it in, or credited to, the Collateral Account as part of the Equity Collateral, subject to the terms of this Agreement, and, if the Collateral Agent shall so request in writing, the Obligors jointly and severally agree to execute and deliver to the Collateral Agent appropriate additional dividend, distribution and other orders and documents required to effect this cl...
Equity Collateral. Each Borrower and each Guarantor will, and will cause each of their respective Subsidiaries to, give notice to the Administrative Agent in writing of any events relating to the Equity Collateral that materially adversely affect the rights of the Administrative Agent or any other Creditor Parties with respect thereto.
Equity Collateral. ANNEX G hereto sets forth the names of all Subsidiaries owned by each Debtor, the percentage of such capital stock or limited liability company equity ownership interests in each Subsidiary owned by each Debtor and the name of the Operating Agreement governing each such Subsidiary.
Equity Collateral. All of the Capital Stock of CFin Holdings held by CCG (consisting of 90% of CFin Holdings’ issued and outstanding Capital Stock); and all of the Capital Stock in CCG, each of the Guarantors (other than CCC), Guaranteed Holdings, EIT (other than the EIT Preferred Shares), EIT II, SPV I, SPV II, and any other Persons listed on Schedule 1 under paragraph C thereof.
Equity Collateral. In order to secure the Obligations, ▇▇▇▇▇▇ ▇▇▇▇ ----------------- shall grant to the Lender a Lien on the Equity Collateral, by the execution and delivery of the Pledge Agreement.
Equity Collateral. (a) RMLC shall have purchased the AIG Equity Funding Agreement from AIG and delivered it to the Owner Trustee and AIG shall have delivered such certificates and opinions as the Owner Participant shall reasonably request.
(b) Oglethorpe shall have obtained a Qualifying Sublease Surety Bond meeting the applicable requirements of Section 8.5 and a Qualifying Head Lease Surety Bond meeting the requirements of Section 8.6, from AMBAC, AMBAC shall have delivered such certificates and opinions as the Owner Participant shall reasonably request, and the Head Lease Surety Bond shall have been delivered to the Owner Participant and the Sublease Surety Bond shall have been delivered to the Co-Trustee as assignee of RMLC.
Equity Collateral. 17 SECTION 4.4. PAYMENT UNDERTAKING................................................... 17 SECTION 4.5.
Equity Collateral. The Equity Collateral identified in Schedule 5 (as it may be updated from time to time) is, and all other Equity Collateral in which the Borrower shall hereafter grant a security interest pursuant to this Agreement will be, duly authorized, validly existing, fully paid and nonassessable, and is owned by the Borrower free and clear of all Liens (subject to no other Liens except Permitted Liens; provided that no such Permitted Liens shall have a higher priority than or equal priority to the liens granted pursuant to this Agreement, except as and to the extent any such Permitted Lien is entitled to a higher priority pursuant to applicable law) than or equal priority to the liens granted by this Agreement), and none of the Equity Collateral is or will be subject to any contractual restriction, or any restriction under the organizational documents of any Project Company, as applicable, upon the transfer of such Equity Collateral (except for any such restriction contained in the Loan Documents).
(a) The Equity Collateral identified in Schedule 5 constitutes all of the issued and outstanding equity interests or other interests of any class or character in each Project Company (whether or not registered in the name of such Project Company, as applicable), and Schedule 5 correctly identifies the Equity Collateral and the respective number (and registered owners) of the interests identified therein.
(b) No Person other than the Borrower is the registered owner of the Equity Collateral.
Equity Collateral. All of the Capital Stock in CM Corp., each of the Guarantors (other than CharterMac Capital Company), Issuer Trust (other than Issuer Trust Preferred Shares), CharterMac Residual Holder, ARCap 2004-RR3 Resecuritization, Inc., ARCap 2005-RR5 Resecuritization, Inc., and any other Persons listed on Schedule 1 under Equity Collateral.
Equity Collateral. As collateral security for the prompt and complete payment and performance of all Obligations, each Company hereby pledges to the Agent and hereby grants to the Agent a continuing Security Interest in, and hereby affirms all prior Security Interests granted by it under the Existing Pledge Agreement in, all of its right, title and interest in the following, whether now existing or hereafter arising or acquired (hereinafter collectively referred to as the "Equity Collateral"):
(A) all of the Equity Interests described in Schedule I (hereinafter collectively called the "Pledged Equity Interests"), all of the certificates and/or instruments representing the Pledged Equity Interests, and all cash, securities, dividends, distributions, rights to vote or manage the business of such Person pursuant to organizational documents governing the rights and obligations of stockholders, partners, members or other owners thereof and other rights and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Equity Interests;
(B) all additional Equity Interests of any Subsidiary which such Company acquires at any time and from time to time in any manner, all of the certificates representing such additional Equity Interests, all options to purchase, warrants and rights with respect to any such additional Equity Interests, all securities convertible into such additional Equity Interests and all cash, securities, dividends, distributions, rights to vote or manage the business of such Person pursuant to organizational documents governing the rights and obligations of stockholders, partners, members or other owners thereof and other rights and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such additional Equity Interests; provided, however, that to the extent, and only to the extent, that the Equity Interests of any Foreign Subsidiary included in the Collateral shall exceed 65% of all outstanding Equity Interests of such Foreign Subsidiary, such excess Equity Interests shall automatically be deemed released from the Security Interest created hereby;
(C) all other property hereafter delivered to the Agent in substitution for or in addition to any of the foregoing, all certificates, promissory notes and instruments representing or evidencing any such property and all cash, securities, interest...