Common use of Grantor’s Obligations Upon Default Clause in Contracts

Grantor’s Obligations Upon Default. Upon the request of the Trustee after the occurrence of a Default, each Grantor will (subject in all cases to any provisions in favor of any debt that is senior in right of payment or priority contained in the Indenture, this Security Agreement or any other Collateral Documents): 6.3.1 Assemble and make available to the Trustee the Pledged Collateral and all books and records relating thereto at any place or places specified by the Trustee; 6.3.2 Permit the Trustee, by the Trustee’s representatives and agents, to enter, occupy and use any premises where all or any part of the Pledged Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Pledged Collateral, or the books and records relating thereto, or both, to remove all or any part of the Pledged Collateral, or the books and records relating thereto, or both, and to conduct sales of the Pledged Collateral, without any obligation to pay the Grantor for such use and occupancy; and/or 6.3.3 Take, or cause an issuer of Pledged Securities to take, any and all actions necessary to register or qualify the Pledged Collateral to enable the Trustee to consummate a public sale or other disposition of such Pledged Securities.

Appears in 6 contracts

Samples: Pledge and Security Agreement, Pledge and Security Agreement (GWG Holdings, Inc.), Pledge and Security Agreement (GWG Life, LLC)

AutoNDA by SimpleDocs

Grantor’s Obligations Upon Default. Upon the request of the Trustee after the occurrence of a Default, each the Grantor will (subject in all cases to any provisions in favor of any debt that is senior in right of payment or priority contained in the Indenture, this Security Agreement or any other Collateral Documents): 6.3.1 5.3.1 Assemble and make available to the Trustee the Pledged Collateral and all books and records relating thereto at any place or places specified by the Trustee; 6.3.2 5.3.2 Permit the Trustee, by the Trustee’s representatives and agents, to enter, occupy and use any premises where all or any part of the Pledged Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Pledged Collateral, or the books and records relating thereto, or both, to remove all or any part of the Pledged Collateral, or the books and records relating thereto, or both, and to conduct sales of the Pledged Collateral, without any obligation to pay the Grantor for such use and occupancy; and/or 6.3.3 5.3.3 Take, or cause an issuer of Pledged Securities to take, any and all actions necessary to register or qualify the Pledged Collateral to enable the Trustee to consummate a public sale or other disposition of such Pledged Securities.

Appears in 5 contracts

Samples: Pledge and Security Agreement (Red Oak Capital Intermediate Income Fund, LLC), Pledge and Security Agreement (Red Oak Capital Fund V, LLC), Pledge and Security Agreement (Red Oak Capital Fund IV, LLC)

AutoNDA by SimpleDocs

Grantor’s Obligations Upon Default. Upon the request of the Trustee Collateral Agent after the occurrence and during the continuation of a DefaultDefault (it being understood that the Collateral Agent shall have no obligation to make such request), subject to compliance with applicable Cemetery Laws, each Grantor will will: (subject in all cases to any provisions in favor of any debt that is senior in right of payment or priority contained in the Indenture, this Security Agreement or any other Collateral Documents): 6.3.1 Assemble i) assemble and make available to the Trustee Collateral Agent the Pledged Collateral and all books and records relating thereto at any place or places specified by the TrusteeCollateral Agent; 6.3.2 Permit (ii) permit the TrusteeCollateral Agent, by the TrusteeCollateral Agent’s representatives and agents, to enter, occupy and use any premises where all or any part of the Pledged Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Pledged Collateral, or the books and records relating thereto, or both, to remove all or any part of the Pledged Collateral, or the books and records relating thereto, or both, and to conduct sales of the Pledged Collateral, without any obligation to pay the Grantor for such use and occupancy; and/orand 6.3.3 Take(iii) take, or cause an issuer of Pledged Securities Collateral to take, any and all actions necessary to register or qualify the Pledged Collateral to enable the Trustee Collateral Agent to consummate a public sale or other disposition of such the Pledged SecuritiesCollateral.

Appears in 1 contract

Samples: Collateral Agreement (Stonemor Partners Lp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!