Foreclosure on Pledged Collateral Sample Clauses

Foreclosure on Pledged Collateral. If, for any reason, Lender were to foreclose upon any portion of the securities pledged by Xxxxx Xxxxx to Lender or BNY, then Dallas Price will provide Xxxxx Xxxxx with fifty percent (50%) of such foreclosed portion, in kind. Similarly, if, for any reason, Lender were to foreclose upon any portion of the securities pledged by the DPP Trust to Lender or BNY, then Xxxxx Xxxxx will provide Dallas Price with fifty percent (50%) of such foreclosed portion, in kind, or the cash equivalent thereof.
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Foreclosure on Pledged Collateral. If, for any reason, the Bank were to foreclose upon any portion of the securities pledged by Dxxxx Xxxxx to the AGC Lenders, then Dallas Price will provide Dxxxx Xxxxx with fifty percent (50%) of such foreclosed portion, in kind. Further, subject to the provisions of paragraph 8 below, to the extent that the funds were not provided by means of an equal pledge or sale of interests in the Companies by each party, if the Bank draws upon either the $16 million letter of credit or the $10 million letter of credit or any of the cash and cash equivalent collateral, then Dallas Price will pay directly to Dxxxx Xxxxx fifty percent (50%) of any such amount drawn down by the Bank. Any such payment shall be made by delivery of interests in the Companies, valued at the greater of the then fair market value or the fair market value at the time the letter(s) of credit were issued or the cash and cash equivalent was deposited.
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Foreclosure on Pledged Collateral. The Collateral Agent shall have the sole and exclusive right to take or exercise Remedial Actions with respect to the Pledged Collateral in accordance with the terms of the Pledge Agreement. The Required Parties shall have the sole and exclusive right to direct the Collateral Agent to take or fail to take any Remedial Action with respect to the Pledged Collateral as provided herein, in the Pledge Agreement or under applicable laws in any manner deemed appropriate by the Required Parties in their sole discretion and neither IBJ, US Trust, any IBJ Noteholder nor any US Trust Noteholder shall have the right itself (other than IBJ as Collateral Agent) to take any Remedial Action with respect to the Pledged Collateral. Notwithstanding the foregoing, nothing contained in this Section shall prohibit IBJ, US Trust, the IBJ Noteholders, the US Trust Noteholders or the Collateral Agent from filing a proof of claim in any case involving the Company, as debtor, under Title 11 of the United States Code, as amended, nor from intervening or participating in any other judicial proceeding to the extent necessary to establish or preserve its interests, subject in each case to the provisions of this Agreement.
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Foreclosure on Pledged Collateral. To the extent that Pledgor may lawfully so agree, Pledgor will not at any time plead, claim or take the benefit of any appraisement, valuation, stay, extension, moratorium or redemption law now or hereafter in force in order to prevent or delay the enforcement of this Agreement or the absolute sale of any portion or all of the Pledged Collateral, or the possession thereof by any purchaser at any sale made pursuant to the terms hereof, and Pledgor, for himself and all who claim under them, as far as Pledgor now or hereafter may, hereby waive the benefit of all such laws and also waive all right to have all or any portion of the Pledged Collateral marshaled upon any foreclosure hereof and agree that any court having jurisdiction over this Agreement may order the sale of all or any portion of the Pledged Collateral as an entirety. Any sale of, or the grant of options to purchase (for the option period thereof or after exercise thereof), or any other realization upon, all or any portion of the Pledged Collateral shall operate to divest all right, title, interest, claim and demand, either at law or in equity, of Pledgor in and to the Pledged Collateral so sold, optioned or realized upon, and shall be a perpetual bar both at law and in equity against Pledgor and against any and all persons claiming or attempting to claim the Pledged Collateral so sold, optioned or realized upon, or any part thereof, from, through and under Pledgor. No delay on the part of the Lender in exercising any power of sale, lien, option or other right hereunder and no notice or demand which may be given to or made upon Pledgor with respect to any power of sale, lien, option or other right hereunder shall constitute a waiver thereof, or limit or impair the right of the Lender to take any action or to exercise any power of sale, lien, option or any other right under this Agreement, the Guaranty Agreement or the promissory note of the Company representing the Company's obligation to repay the Loan (the "Note"), or otherwise, nor shall any single or partial exercise thereof, or the exercise of any power, lien, option or other right under this Agreement, the Note or the Guaranty, or otherwise, all without notice or demand (except as otherwise provided by the terms of this Agreement), prejudice its rights against Pledgor in any respect. Each and every remedy given the Lender shall, to the extent permitted by law, be cumulative and shall be in addition to any other remedy given hereunder or now...
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Related to Foreclosure on Pledged Collateral

  • Sale of Pledged Collateral Upon the occurrence of an Event of Default and during the continuation thereof, without limiting the generality of this Section and without notice, the Administrative Agent may, in its sole discretion, sell or otherwise dispose of or realize upon the Pledged Collateral, or any part thereof, in one or more parcels, at public or private sale, at any exchange or broker’s board or elsewhere, at such price or prices and on such other terms as the Administrative Agent may deem commercially reasonable, for cash, credit or for future delivery or otherwise in accordance with applicable law. To the extent permitted by law, any holder of the Secured Obligations may in such event bid for the purchase of such securities. Each Pledgor agrees that, to the extent notice of sale shall be required by law and has not been waived by such Pledgor, any requirement of reasonable notice shall be met if notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed postage prepaid to such Pledgor in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) days before the time of such sale. The Administrative Agent shall not be obligated to make any sale of Pledged Collateral of such Pledgor regardless of notice of sale having been given. The Administrative Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.

  • Release of Pledged Collateral The Administrative Agent may release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority lien on all Pledged Collateral not expressly released or substituted.

  • Distributions on Pledged Collateral So long as the Purchase Contract Agent is the registered owner of the Pledged Preferred Securities, it shall receive all payments thereon. If the Pledged Preferred Securities are reregistered, such that the Collateral Agent becomes the registered holder, all payments of the Stated Amount of or, if applicable, the appropriate Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, or cash distributions on, the Pledged Preferred Securities or on the appropriate Applicable Ownership Interest (as specified in clause (B) of the definition of such term) of the Treasury Portfolio, as the case may be, and all payments of the principal of, or cash distributions on, any Pledged Treasury Securities received by the Collateral Agent that are properly payable hereunder shall be paid by the Collateral Agent by wire transfer in same day funds:

  • Pledged Collateral The Administrative Agent shall have received (A) original stock certificates or other certificates evidencing the certificated Equity Interests pledged pursuant to the Security Documents, together with an undated stock power for each such certificate duly executed in blank by the registered owner thereof and (B) each original promissory note pledged pursuant to the Security Documents together with an undated allonge for each such promissory note duly executed in blank by the holder thereof.

  • Exercise of Rights in Pledged Collateral (i) Without in any way limiting the foregoing and subject to clause (ii) below, such Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Security Agreement, the Credit Agreement or any other Loan Document; provided however, that no vote or other right shall be exercised or action taken which would have the effect of impairing the rights of the Administrative Agent in respect of such Pledged Collateral.

  • Failure to Pledge Collateral In the event that the applicable Fund shall fail: (a) to pay, on behalf of the applicable Portfolio, the Overdraft Obligation described in such Written Notice; (b) to deliver to the Custodian a Pledge Certificate pursuant to Section 2; or (c) to identify substitute securities pursuant to Section 6 upon the sale or maturity of any securities identified as Collateral, the Custodian may, by Written Notice to the applicable Fund specify Collateral which shall secure the applicable Overdraft Obligation. Such Fund, on behalf of any applicable Portfolio, hereby pledges, assigns and grants to the Custodian a first priority security interest in any and all Collateral specified in such Written Notice; provided that such pledge, assignment and grant of security shall be deemed to be effective only upon receipt by the applicable Fund of such Written Notice.

  • Transfers of Pledged Collateral No Pledgor shall sell, convey, assign or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral pledged by it hereunder except as permitted by the Credit Agreement.

  • Delivery of the Pledged Collateral Each Pledgor hereby agrees that:

  • Voting Rights in Respect of the Pledged Collateral (i) So long as no Event of Default shall have occurred and be continuing, to the extent permitted by law, each Pledgor may exercise any and all voting and other consensual rights pertaining to the Pledged Collateral of such Pledgor or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement or the Credit Agreement; and

  • Delivery of Pledged Collateral All certificates and all promissory notes and instruments evidencing the Pledged Collateral shall be delivered to and held by or on behalf of Agent, for itself and the benefit of Lenders, pursuant hereto. All Pledged Shares shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to Agent and all promissory notes or other instruments evidencing the Pledged Indebtedness shall be endorsed by Pledgor.

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