Common use of Exercise of Rights in Pledged Stock Clause in Contracts

Exercise of Rights in Pledged Stock. After an Event of Default occurs and is continuing, and upon the expiration of any applicable cure period, if any, the Agent or its nominee as agent for the Revolving Lenders may at any time and from time to time, without notice, exercise all voting and corporate rights relating to the Collateral, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any shares of the Pledged Stock and the Stock Rights as if it were the absolute owner thereof. At all other times, the Borrower may exercise such rights.

Exercise of Rights in Pledged Stock. After an a Guarantor Event of Default occurs and is continuing, and upon the expiration of any applicable cure period, if any, the Agent or its nominee as agent for the Revolving Lenders may at any time and from time to time, without notice, exercise all voting and corporate rights relating to the Collateral, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any shares of the Pledged Stock and the Stock Rights as if it were the absolute owner thereof. At all other times, the Borrower Guarantor may exercise such rights.