General Authority upon an Event of Default. Upon and after the occurrence and during the continuance of any Event of Default: (i) the Administrative Agent shall be entitled to receive all distributions and payments of any nature with respect to the Pledged Collateral, to be held by the Administrative Agent as part of the Pledged Collateral; and (ii) the Administrative Agent shall have the right following prior written notice to the Grantors to vote or consent to take any action with respect to the Pledged Collateral and exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining to the Pledged Collateral, as if the Administrative Agent were the absolute owner thereof.
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Samples: Credit Agreement (Cnet Networks Inc), Security Agreement (Pacer International Inc), Security Agreement (Pacer International Inc)
General Authority upon an Event of Default. Upon and after the occurrence and during During the continuance of any Event of Default:
(i) the Administrative Agent shall be entitled to receive all distributions and payments of any nature with respect to the Pledged Collateral, to be held by the Administrative Agent as part of the Pledged Collateral; and
(ii) the Administrative Agent shall have the right following prior written notice to the Grantors Grantor to vote or consent to take any action with respect to the Pledged Collateral and exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining to the Pledged Collateral, as if the Administrative Agent were the absolute owner thereof.
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