Common use of Impact of Regulations Clause in Contracts

Impact of Regulations. In the event of an uncured Default, Debtor acknowledges that compliance with the Securities Act of 1933 and the rules and regulations thereunder and any relevant state securities laws and other applicable laws may impose limitations on the right of Creditor to sell or otherwise dispose of securities included in the Collateral. For this reason, Debtor hereby authorizes Creditor to sell any securities included in the Collateral in such manner and to such persons as would, in the judgment of Creditor, help to ensure that the transfer of such securities will be given prompt and effective approval by any relevant regulatory authorities and will not require any of the securities to be registered or qualified under any applicable securities laws. Debtor understands that a sale under the foregoing circumstances may yield a substantially lower price for such Collateral than would otherwise be obtainable if the same were registered and sold in the open market, and Debtor shall not attempt to hold Creditor responsible for selling any of the Collateral at an inadequate price even if Creditor accepts the first offer received or if only one possible purchaser appears or bids at any such sale. If Creditor shall sell any securities included in the Collateral at such sale, Creditor shall have the right to rely upon the advice and opinion of any qualified appraiser or investment banker as to the commercially reasonable price obtainable on the sale thereof but shall not be obligated to obtain such advice or opinion. Debtor hereby assigns to Creditor any registration rights or similar rights Debtor may have from time to time with respect to any of the Collateral.

Impact of Regulations. In the event of an uncured Default, Debtor Pledgor acknowledges that compliance with the Securities Act of 1933 and the rules and regulations thereunder and any relevant state securities laws and other applicable laws may impose limitations on the right of Creditor Administrative Agent to sell or otherwise dispose of securities included in the Collateral. For this reason, Debtor Pledgor hereby authorizes Creditor Administrative Agent to sell any securities included in the Collateral in such manner and to such persons as would, in the judgment of CreditorAdministrative Agent, help to ensure that the transfer of such securities will be given prompt and effective approval by any relevant regulatory authorities and will not require any of the securities to be registered or qualified under any applicable securities laws. Debtor Pledgor understands that a sale under the foregoing circumstances may yield a substantially lower price for such Collateral than would otherwise be obtainable if the same were registered and sold in the open market, and Debtor Pledgor shall not attempt to hold Creditor Administrative Agent responsible for selling any of the Collateral at an inadequate price even if Creditor Administrative Agent accepts the first offer received or if only one possible purchaser appears or bids at any such sale. If Creditor Administrative Agent shall sell any securities included in the Collateral at such sale, Creditor Administrative Agent shall have the right to rely upon the advice and opinion of any qualified appraiser or investment banker as to the commercially reasonable price obtainable on the sale thereof but shall not be obligated to obtain such advice or opinion. Debtor Pledgor hereby assigns to Creditor Administrative Agent any registration rights or similar rights Debtor Pledgor may have from time to time with respect to any of the Collateral.

Impact of Regulations. In the event of an uncured Default, Debtor acknowledges that compliance with the Securities Act of 1933 and the rules and regulations thereunder and any relevant state securities laws and other applicable laws may impose limitations on the right of Creditor to sell or otherwise dispose of securities included in the Collateral. For this reason, Debtor hereby authorizes Creditor to sell any securities included in the Collateral in such manner and to such persons as would, in the judgment of Creditor, help to ensure that the transfer of such securities will be given prompt and effective approval by any relevant regulatory authorities and will not require any of the securities to be registered or qualified under any applicable securities laws. Debtor understands that a sale under the foregoing circumstances may yield a substantially lower price for such Collateral than would otherwise be obtainable if the same were registered and sold in the open market, and Debtor shall not attempt to hold Creditor responsible for selling any of the Collateral at an inadequate price even if Creditor accepts the first offer received or if only one possible purchaser appears or bids at any such sale. If Creditor shall sell any securities included in the Collateral at such sale, Creditor shall have the right to rely upon the advice and opinion of any qualified appraiser or investment banker as to the commercially reasonable price obtainable on the sale thereof but shall not be obligated to obtain such advice or opinion. Debtor hereby assigns to Creditor any registration rights or similar rights Debtor may have from time to time tune with respect to any of the Collateral.

Impact of Regulations. In the event of an uncured Default, Debtor Pledgor acknowledges that compliance with the Securities Act of 1933 and the rules and regulations thereunder and any relevant state securities laws and other applicable laws may impose limitations on the right of Creditor to sell or otherwise dispose of securities included in the Pledged Collateral. For this reason, Debtor Pledgor hereby authorizes Creditor to sell any securities included in the Pledged Collateral in such manner and to such persons as would, in the judgment of Creditor, help to ensure that the transfer of such securities will be given prompt and effective approval by any relevant regulatory authorities and will not require any of the securities to be registered or qualified under any applicable securities laws. Debtor Pledgor understands that a sale under the foregoing circumstances may yield a substantially lower price for such Pledged Collateral than would otherwise be obtainable if the same were registered and sold in the open market, and Debtor Pledgor shall not attempt to hold Creditor responsible for selling any of the Pledged Collateral at an inadequate price even if Creditor accepts the first offer received or if only one possible purchaser appears or bids at any such sale. If Creditor shall sell any securities included in the Pledged Collateral at such sale, Creditor shall have the right to rely upon the advice and opinion of any qualified appraiser or investment banker as to the commercially reasonable price obtainable on the sale thereof but shall not be obligated to obtain such advice or opinion. Debtor hereby assigns to Creditor any registration rights or similar rights Debtor may have from time to time with respect to any of the Collateral.