Pledged Investments Sample Clauses

Pledged Investments. If the Borrower shall become entitled to receive or shall receive any stock certificate (including, without limitation, any certificate representing a stock dividend or a distribution in connection with any reclassification, increase or reduction of capital or any certificate issued in connection with any reorganization), option or rights in respect of the capital stock of any issuer, whether in addition to, in substitution of, as a conversion of, or in exchange for, any Pledged Investments, or otherwise in respect thereof, the Borrower shall accept the same as the agent of the Secured Parties Representative and the Secured Parties and hold the same in trust therefor and deliver the same forthwith to the Custodian in the exact form received, together with an undated stock or bond power covering such certificate duly executed in blank by the Borrower or, if required, duly indorsed by the Borrower in blank, and with, if the Secured Parties Representative so requests, signature guaranteed, to be held by the Custodian as additional collateral security for the Secured Obligations (except as released pursuant to Sections 3.4 or 3.5). Any sums paid upon or in respect of the Pledged Investments upon the liquidation or dissolution of any issuer shall be paid over to the Custodian to be held by it as additional collateral security for the Secured Obligations, and in case any distribution of capital shall be made on or in respect of the Pledged Investments or any property shall be distributed upon or with respect to the Pledged Investments pursuant to the recapitalization or reclassification of the capital of any issuer or pursuant to the reorganization thereof, the property so distributed shall be delivered to the Custodian to be held by it as additional collateral security for the Secured Obligations. If any sums of money or property so paid or distributed in respect of the Pledged Investments shall be received by the Borrower, the Borrower shall, until such money or property is paid or delivered to the Custodian, hold such money or property in trust for the Secured Parties Representative and the Secured Parties, segregated from other funds of the Borrower, as additional collateral security for the Secured Obligations.

Pledged Investments. As to each Investment that is identified by Xxxxxxxx as a Pledged Investment on the Schedule B-1 or the most recent Pledged Investments Report submitted to Agent, such Pledged Investments (a) are subject to a valid and perfected first priority Agent’s Lien, (b) are owned by Borrower free and clear of all other Liens (other than Liens in favor of Agent) and (c) constitute Performing Obligations.

Pledged Investments. (a) Prior to any Foreclosure on a Pledged Investment, the applicable Grantor shall be permitted to exercise all voting and corporate or other organizational rights with respect to such Pledged Investment.

Pledged Investments. (a) Schedule 2 sets forth a complete and accurate list of all Pledged Stock and Pledged Debt held by such Pledgor as of the date hereof. (b) The shares of Pledged Stock pledged by such Pledgor hereunder constitute all the issued and outstanding shares of all classes of the Shares of each Issuer owned by such Pledgor. Such shares represent all of the outstanding shares of each such Issuer which is a subsidiary except as noted on such Schedule. All the shares of the Pledged Stock have been duly and validly issued and are fully paid and nonassessable. (c) Each issue of Pledged Debt constitutes the legal, valid and binding obligation of the obligor with respect thereto, enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. (d) Such Pledgor is the record and beneficial owner of, and has good and marketable title to, the Pledged Investments pledged by it hereunder, free of any and all Encumbrances or options in favor of, or claims of, any other Person, except the security interest created by this Agreement.

Pledged Investments. (a) Schedule 5.5 sets forth a complete and accurate list of all Pledged Stock and Pledged Debt held by such Borrower as of the date hereof. (b) The shares of Pledged Stock pledged by such Borrower hereunder constitute all the issued and outstanding shares of all classes of the Capital Stock of each Issuer owned by such Borrower other than Excluded Equity. Such shares represent all of the outstanding shares of Capital Stock of each such Issuer which is a Subsidiary other than Excluded Equity and except as noted on such Schedule 5.5. All the shares of the Pledged Stock have been duly and validly issued and are fully paid and nonassessable. (c) Each issue of Pledged Debt constitutes a legal, valid and binding obligation of the obligor with respect thereto, enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. (d) Such Borrower is the record and beneficial owner of, and has good and marketable title to, the Pledged Investments pledged by it hereunder, free of any and all Liens or options in favor of, or claims of, any other Person, except the security interest created by this Agreement.

Pledged Investments. (a) Prior to any Foreclosure on a Pledged Investment, the Company shall be permitted to exercise all voting and corporate or other organizational rights with respect to such Pledged Investment.