Common use of Holding Pledged Collateral Clause in Contracts

Holding Pledged Collateral. The Pledgee may hold any of the Pledged Collateral, endorsed or assigned in blank. Until an Event of Default has occurred, the Pledgee shall not transfer to or register in the name of the Pledgee or any other person, any or all of the Pledged Collateral. The Pledgee acknowledges and agrees that until the Pledged Collateral has been sold pursuant to Section 7 hereof, (i) Pledgor shall continue to be the beneficial owner of the Pledged Collateral and (ii) Pledgor shall be entitled to exercise any and all voting and other ownership rights with respect to the Pledged Collateral. Pledgee shall have no right to transfer, pledge, encumber or otherwise dispose of the Pledged Collateral other than pursuant to Section 7 hereof.

Holding Pledged Collateral. The Pledgee Pledgees may hold any of the Pledged Collateral, endorsed or assigned in blank. Until an Event of Default has occurred, the Pledgee Pledgees shall not transfer to or register in the name of the Pledgee Pledgees or any other person, any or all of the Pledged Collateral. The Pledgee acknowledges Pledgees acknowledge and agrees agree that until the Pledged Collateral has been sold pursuant to Section 7 hereof, (i) Pledgor shall continue to be the beneficial owner of the Pledged Collateral and (ii) Pledgor shall be entitled to exercise any and all voting and other ownership rights with respect to the Pledged Collateral. Pledgee Pledgees shall have no right to transfer, pledge, encumber or otherwise dispose of the Pledged Collateral other than pursuant to Section 7 hereof.