Common use of Investment Property; Voting and Other Rights; Irrevocable Proxy Clause in Contracts

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof and (J) exercise any other rights or remedies Agent may have under the UCC, other applicable law or otherwise.

Appears in 12 contracts

Samples: Loan and Security Agreement (Aytu Biopharma, Inc), Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.)

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Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor and Parent to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor and Parent that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor and Parent as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor and Parent to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof and (J) exercise any other rights or remedies Agent may have under the UCC, other applicable law or otherwise.

Appears in 3 contracts

Samples: Loan and Security Agreement (Kaspien Holdings Inc.), Loan and Security Agreement (Kaspien Holdings Inc.), Loan and Security Agreement (Trans World Entertainment Corp)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (B) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (I) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof thereof, and (J) exercise any other rights or remedies Agent may have under the UCC, other applicable law law, or otherwise.

Appears in 2 contracts

Samples: Super Priority (iMedia Brands, Inc.), Loan and Security Agreement (iMedia Brands, Inc.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereon, (Ee) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent Lender may have under the other Loan Documents, the UCC, other applicable law law, or otherwise.

Appears in 2 contracts

Samples: Loan and Security Agreement (Janel Corp), Loan and Security Agreement (Janel Corp)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (B) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (I) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof thereof, and (J) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law law, or otherwise.

Appears in 2 contracts

Samples: Loan and Security Agreement (Transact Technologies Inc), Loan and Security Agreement (usell.com, Inc.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Control Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Control Agent, and Control Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Control Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Control Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Control Agent was the outright owner thereof and (J) exercise any other rights or remedies Control Agent may have under the UCC, PPSA, other applicable law or otherwise.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hydrofarm Holdings Group, Inc.), Loan and Security Agreement (Hydrofarm Holdings Group, Inc.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereon, (Ee) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent Lender may have under the other Loan Documents, the UCC, other applicable law law, or otherwise. 48 (ii) EACH LOAN PARTY OBLIGOR HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS LENDER AS ITS PROXY AND ATTORNEY-IN-FACT FOR SUCH LOAN PARTY OBLIGOR WITH RESPECT TO ALL OF EACH SUCH LOAN PARTY OBLIGOR’S INVESTMENT PROPERTY WITH THE RIGHT, DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, WITHOUT NOTICE, TO TAKE ANY OF THE FOLLOWING ACTIONS: (A) TRANSFER AND REGISTER IN LENDER’S NAME, OR IN THE NAME OF ITS NOMINEE, THE WHOLE OR ANY PART OF THE INVESTMENT PROPERTY, (B) VOTE THE PLEDGED EQUITY, WITH FULL POWER OF SUBSTITUTION TO DO SO, (C) RECEIVE AND COLLECT ANY DIVIDEND OR ANY OTHER PAYMENT OR DISTRIBUTION IN RESPECT OF, OR IN EXCHANGE FOR, THE INVESTMENT PROPERTY OR ANY PORTION THEREOF, TO GIVE FULL DISCHARGE FOR THE SAME AND TO INDORSE ANY INSTRUMENT MADE PAYABLE TO ANY LOAN PARTY OBLIGOR FOR THE SAME, (D) EXERCISE ALL OTHER RIGHTS, POWERS, PRIVILEGES, AND REMEDIES (INCLUDING ALL ECONOMIC RIGHT’S, ALL CONTROL RIGHTS, AUTHORITY AND POWERS, AND ALL STATUS RIGHTS OF EACH LOAN PARTY OBLIGOR AS A MEMBER OR AS A SHAREHOLDER (AS APPLICABLE) OF THE ISSUER) TO WHICH A HOLDER OF THE PLEDGED COLLATERAL WOULD BE ENTITLED (INCLUDING, WITH RESPECT TO THE PLEDGED EQUITY, GIVING OR WITHHOLDING WRITTEN CONSENTS OF MEMBERS OR SHAREHOLDERS, CALLING SPECIAL MEETINGS OF MEMBERS OR SHAREHOLDERS, AND VOTING AT SUCH MEETINGS), AND (E) TAKE ANY ACTION AND TO EXECUTE ANY INSTRUMENT WHICH LENDER MAY DEEM NECESSARY OR ADVISABLE TO ACCOMPLISH THE PURPOSES OF THIS AGREEMENT. THE APPOINTMENT OF LENDER AS PROXY AND ATTORNEY-IN-FACT IS COUPLED WITH AN INTEREST AND SHALL BE VALID AND IRREVOCABLE UNTIL (X) ALL OF THE OBLIGATIONS HAVE BEEN INDEFEASIBLY PAID IN FULL IN CASH IN ACCORDANCE WITH THE PROVISIONS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND (Y) LENDER HAS NO FURTHER OBLIGATIONS UNDER THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (IT BEING UNDERSTOOD AND AGREED THAT SUCH OBLIGATIONS WILL BE AUTOMATICALLY REINSTATED IF AT ANY TIME PAYMENT, IN WHOLE OR IN PART, OF ANY OF THE OBLIGATIONS IS RESCINDED OR MUST OTHERWISE BE RESTORED OR RETURNED BY LENDER FOR ANY REASON WHATSOEVER, INCLUDING AS A PREFERENCE, FRAUDULENT CONVEYANCE, OR OTHERWISE UNDER ANY BANKRUPTCY, INSOLVENCY, OR SIMILAR LAW, ALL AS THOUGH SUCH PAYMENT HAD NOT BEEN MADE; IT BEING FURTHER UNDERSTOOD THAT IN THE EVENT PAYMENT OF ALL OR ANY PART OF THE OBLIGATIONS IS RESCINDED OR MUST BE RESTORED OR RETURNED, ALL REASONABLE OUT-OF-POCKET COSTS AND EXPENSES (INCLUDING ALL REASONABLE ATTORNEYS’ FEES AND DISBURSEMENTS) INCURRED BY LENDER IN DEFENDING AND ENFORCING SUCH REINSTATEMENT SHALL HEREBY BE DEEMED TO BE INCLUDED AS A PART OF THE OBLIGATIONS). SUCH APPOINTMENT OF LENDER AS PROXY AND AS ATTORNEY-IN-FACT SHALL BE VALID AND IRREVOCABLE AS PROVIDED HEREIN NOTWITHSTANDING ANY LIMITATIONS TO THE CONTRARY SET FORTH IN ANY ORGANIC DOCUMENTS OF ANY LOAN PARTY OBLIGOR, ANY ISSUER, OR OTHERWISE.

Appears in 1 contract

Samples: Loan and Security Agreement (Janel Corp)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereon, (Ee) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent may have under the UCC, other applicable law law, or otherwise.. Loan and Security Agreement

Appears in 1 contract

Samples: Loan and Security Agreement (Excel Corp)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Control Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Control Agent, and Control Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Control Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Control Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Control Agent was the outright owner thereof and (J) exercise any other rights or remedies Agent may have under the UCC, other applicable law or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Horizon Global Corp)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereon, (Ee) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent may have under the UCC, other applicable law law, or otherwise.. Loan and Security Agreement

Appears in 1 contract

Samples: Loan and Security Agreement (Sypris Solutions Inc)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (B) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (I) otherwise act with respect to the Investment Property as though Agent Xxxxxx was the outright owner thereof thereof, and (J) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law law, or otherwise.. (ii) EACH LOAN PARTY HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS LENDER AS ITS PROXY AND ATTORNEY-IN-FACT FOR SUCH LOAN PARTY WITH RESPECT TO ALL OF EACH SUCH LOAN PARTY’S INVESTMENT PROPERTY WITH THE RIGHT, DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, WITHOUT NOTICE, TO TAKE ANY OF THE FOLLOWING ACTIONS: (A) TRANSFER AND REGISTER IN XXXXXX’S NAME, OR IN THE NAME OF ITS NOMINEE, THE WHOLE OR ANY PART OF THE INVESTMENT PROPERTY, (B) VOTE THE PLEDGED EQUITY, WITH FULL POWER OF SUBSTITUTION TO DO SO, (C) RECEIVE AND COLLECT ANY DIVIDEND OR ANY OTHER PAYMENT OR DISTRIBUTION IN RESPECT OF, OR IN EXCHANGE FOR, THE INVESTMENT PROPERTY OR ANY PORTION THEREOF, TO GIVE FULL DISCHARGE FOR THE SAME AND TO INDORSE ANY INSTRUMENT MADE PAYABLE TO ANY LOAN PARTY FOR THE SAME, (D) EXERCISE ALL OTHER RIGHTS, POWERS, PRIVILEGES, AND REMEDIES (INCLUDING ALL ECONOMIC RIGHTS, ALL CONTROL RIGHTS, AUTHORITY AND POWERS, AND ALL STATUS RIGHTS OF EACH LOAN PARTY AS A MEMBER OR AS A SHAREHOLDER (AS APPLICABLE) OF THE ISSUER) TO WHICH A HOLDER OF THE PLEDGED COLLATERAL WOULD BE ENTITLED (INCLUDING, WITH RESPECT TO THE PLEDGED EQUITY, GIVING OR WITHHOLDING

Appears in 1 contract

Samples: Loan and Security Agreement (Inseego Corp.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (B) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (I) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof thereof, and (J) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law law, or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (New Age Beverages Corp)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All i)All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof and (J) exercise any other rights or remedies Agent may have under the UCC, other applicable law or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Aytu Biopharma, Inc)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediatelyimmediately (or with respect to the rights set forth in clauses (A), (B) and (C) below, as permitted by Section 6.4(c)), at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof and (J) exercise any other rights or remedies Agent may have under the UCC, other applicable law or otherwise. In addition, in connection with any exercise of rights and remedies in accordance with this Agreement, Agent shall have a right to use each Loan Party Obligor's Intellectual Property (which right with respect to such Intellectual Property shall be a royalty free, rent free non-exclusive license and lease to use all such Intellectual Property) in order to collect, handle, deal with or dispose of any Collateral pursuant to the rights of Agent set forth this Agreement and the other Loan Documents, the UCC and other applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (LIVE VENTURES Inc)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent or Required Lenders (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, for the benefit of Agent and Lenders, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof and (J) exercise any other rights or remedies Agent or any Lender may have under the UCC, other applicable law or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (NXT-Id, Inc.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and 7.3(g)(ii)and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereon, (Ee) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law law, or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement

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Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor Borrower to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice; provided, that Borrower shall not be in violation of this Section for any exercise by Borrower of the voting or other consensual rights with respect to any Investment Property occurring after Lender has elected to prohibit such rights but prior to Borrower having received notice of Lender’s election) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor Borrower that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor Borrower as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereon, (Ee) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor Borrower to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law law, or otherwise.. Loan and Security Agreement

Appears in 1 contract

Samples: Loan and Security Agreement (Hudson Global, Inc.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereonthereon and apply the same to the payment of the Obligations in accordance with the terms hereof, (Ee) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent may have under the UCC, other applicable law law, or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Olb Group, Inc.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereon, (Ee) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law law, or otherwise.. Amended and Restated Loan and Security Agreement

Appears in 1 contract

Samples: Loan and Security Agreement (Sypris Solutions Inc)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediatelyupon notice to the relevant Loan Party and, at the election of Agent (without requiring any notice) during the continuance of an Event of Default cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (B) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (I) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof thereof, and (J) exercise any other rights or remedies Agent may have under the UCC, other applicable law law, or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (SkyWater Technology, Inc)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent (without requiring any notice) cease, and all such rights shall thereupon become vested solely in Agent, and Agent (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Agent was the outright owner thereof and (J) exercise any other rights or remedies Agent may have under the UCC, other applicable law or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Ranger Energy Services, Inc.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (Aa) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (Bb) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (Cc) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (Dd) collect and receive all dividends and other payments and distributions made thereon, (Ee) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (Ff) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (Gg) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (Hh) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (Ii) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof thereof, and (Jj) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law law, or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Id Systems Inc)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All Following an Event of Default which shall have occurred and is continuing, all rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, payments and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Xxxxxx (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(iiSections 4.4 and 7.3(g)(ii) and Section 6.4of this Agreement, (B) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, powers and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, release or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (I) otherwise act with respect to the Investment Property as though Agent Xxxxxx was the outright owner thereof and (J) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Inseego Corp.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii) and Section 6.4, (B) exchange certificates or instruments representing or evidencing Investment Property for certificates or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f), (I) otherwise act with respect to the Investment Property as though Agent Lender was the outright owner thereof and (J) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Hightimes Holding Corp.)

Investment Property; Voting and Other Rights; Irrevocable Proxy. (i) All rights of each Loan Party Obligor to exercise any of the voting and other consensual rights which it would otherwise be entitled to exercise in accordance with the terms hereof with respect to any Investment Property, and to receive any dividends, payments, and other distributions which it would otherwise be authorized to receive and retain in accordance with the terms hereof with respect to any Investment Property, shall immediately, at the election of Agent Lender (without requiring any notice) cease, and all such rights shall thereupon become vested solely in AgentLender, and Agent Lender (personally or through an agent) shall thereupon be solely authorized and empowered, without notice, to (A) transfer and register in its name, or in the name of its nominee, the whole or any part of the Investment Property, it being acknowledged by each Loan Party Obligor that any such transfer and registration may be effected by Agent Lender through its irrevocable appointment as attorney-in-fact pursuant to Section 11.3(g)(ii7.3(g)(ii) and Section 6.44.4 of this Agreement, (B) exchange certificates or and/or instruments representing or evidencing Investment Property for certificates or and/or instruments of smaller or larger denominations, (C) exercise the voting and all other rights as a holder with respect to all or any portion of the Investment Property (including including, without limitation, all economic rights, all control rights, authority and powers, and all status rights of each Loan Party Obligor as a member or as a shareholder (as applicable) of the Issuer), (D) collect and receive all dividends and other payments and distributions made thereon, (E) notify the parties obligated on any Investment Property to make payment to Agent Lender of any amounts due or to become due thereunder, (F) endorse instruments in the name of each Loan Party Obligor to allow collection of any Investment Property, (G) enforce collection of any of the Investment Property by suit or otherwise, and surrender, release, or exchange all or any part thereof, or compromise or renew for any period (whether or not longer than the original period) any liabilities of any nature of any Person with respect thereto, (H) consummate any sales of Investment Property or exercise any other rights as set forth in Section 11.3(f)7.3(f) hereof, (I) otherwise act with respect to the Investment Property as though Agent Xxxxxx was the outright owner thereof thereof, and (J) exercise any other rights or remedies Agent Lender may have under the UCC, other applicable law law, or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Salem Media Group, Inc. /De/)

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