Exchange of Collateral. Subject to the terms of this Agreement and without affecting the rights of Landlord under this Agreement, HRT agrees and consents that any collateral for the Landlord Obligations, in whole or in part, may be exchanged, sold or surrendered by Landlord for other collateral as it may deem advisable, and that any balance or balances of funds with Landlord at any time outstanding to the credit of Emeritus may, from time to time, in whole or in part, be surrendered or released by Landlord as it may deem advisable, subject, however, to the terms of the Landlord Obligations, HRT’s subordinated security interest in the Landlord Collateral and the terms of this Agreement.
Exchange of Collateral. At any time, the Seller may, at its option deposit with the Escrow Agent an equivalent value, based upon the Valuation Price on such date, of cash ("Escrowed Cash") in exchange for all remaining Escrowed Shares in the Escrow Account. Upon exercise of such option, references to the Escrowed Shares and reservations and distributions therefor shall thereafter be deemed to refer instead to equivalent amounts of the Escrowed Cash and reservations thereof.
Exchange of Collateral. 35 ARTICLE VIII
Exchange of Collateral. A Shareholder may, at his or her option at any time before Escrow Shares are delivered to Parent out of the Escrow Fund pursuant to a claim made under Section 7.8, deposit with the Escrow Agent an equivalent value, based upon the "fair market value" of such Escrow Shares as defined in Section 7.8, of cash, U.S. Treasury securities or triple-A rated state and local government general obligation bonds ("Escrow Cash") in exchange for all of the Escrow Shares held for such Shareholder in the Escrow Fund. In any such case, all references to the Escrow Shares and distributions thereof in this Article VII shall, as to such Shareholder, be deemed to refer instead to such Shareholder's Escrow Cash and distributions thereof.
Exchange of Collateral. A Stockholder may, at its or his option, deposit with the Escrow Agent an equivalent value of cash ("Escrowed Cash") in exchange for all or any portion of the Escrowed Stock in such Stockholder's account. The equivalent value of the cash will be based on the last reported sale price of NCO common stock, as reported on the Nasdaq National Market, on the day that the cash is surrendered in substitution for the Escrowed Stock ("Exchange Value"); provided, however, no substitution hereunder may be permitted or made if the Exchange Value is less than the Valuation Price. In any such case, references to the Escrowed Stock and distributions thereof shall be deemed to refer instead to the Escrowed Cash and distributions thereof. The Escrowed Cash shall be held in such investment suitable for escrow accounts as NCO, Escrow Agent and such Stockholder shall reasonably agree.
