Common use of Registration in Nominee Name; Denominations Clause in Contracts

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rights, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified given the Grantors Borrower two (2) Business Days prior written notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities Equity in its own name as pledgee, the name of its nominee (as pledgee or as subagent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any written notices or other written communications received by it with respect to Pledged Securities Equity registered in the name of such Grantor. Upon Grantor and (b) to the occurrence and during extent permitted by the continuance of an Event of Defaultdocumentation governing such Pledged Equity, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities Equity for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors in writing of its intent to exercise such rightsremedies, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent after written notice is delivered to the Grantors shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified given the Grantors Borrower prior written notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any written notices or other written communications received by it with respect to Pledged Securities Equity registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities Equity for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement, to the extent permitted by the documentation governing such Pledged Securities.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred occur and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightsbe continuing, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent)Agent, and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement; provided, that the Administrative Agent shall give the Borrower prior notice of its intent to exercise such rights.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified given the Grantors Borrowers three (3) Business Days’ prior written notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities Equity in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any written notices or other written communications received by it with respect to Pledged Securities Equity registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities Equity for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement, to the extent permitted by the documentation governing such Pledged Securities.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rights, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities Collateral in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities Collateral registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, and subject to the notice requirement in the immediately preceding sentence, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified the Grantors in writing of its intent to exercise such rightsremedies, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each . Each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent after written notice is delivered to the Grantors shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If Upon and during the continuance of an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightsDefault, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) right, following written notice from the Administrative Agent to the applicable Grantor, to hold the Pledged Securities in its own name as pledgee, in the name of its nominee (as pledgee or as sub-agent) or in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in Agent. Upon and during the name continuance of its nominee (as pledgee or as sub-agent)an Event of Default, and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred occur and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightsbe continuing, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent)Agent, and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement; provided that the Administrative Agent shall give the Borrower prior notice of its intent to exercise such rights.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified given the Grantors Borrower prior written notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities Equity in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any written notices or other written communications received by it with respect to Pledged Securities Equity registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities Equity for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement, to the extent permitted by the documentation governing such Pledged Equity and applicable Laws.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors in writing of its intent to exercise such rights, the Administrative Agent, on behalf of the Secured PartiesCreditors, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightsThe Grantor hereby agrees that (a) without limiting Section 6.4, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold hold, where applicable, the Pledged Securities Equity Interests in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its Agent’s own name as pledgee or in pledgee, the name of its nominee (as pledgee or as sub-agent)) or the name of the Grantor, and each endorsed or assigned, where applicable, in blank or in favor of the Administrative Agent, (b) at the Administrative Agent’s request, the Grantor will promptly give to the Administrative Agent copies of any material notices or other written communications received by it with respect to any Pledged Securities Equity Interests registered in the name of such Grantor. Upon the occurrence its name, and during the continuance of an Event of Default, (c) the Administrative Agent shall at all times have the right to exchange the certificates any Security Certificates or other documents representing or evidencing any Pledged Securities Equity Interests for certificates Security Certificates or other documents of smaller or larger denominations for any reasonable purpose consistent with this Pledge Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified given the Grantors Borrower prior written notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rights, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have has occurred and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightscontinuing, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or pledgee, in the name of its nominee (as pledgee or as sub-agent)) or in the name of the Grantor, and each endorsed or assigned in blank or in favor of the Administrative Agent. The Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such the Grantor. Upon the occurrence and during the continuance of an Event of Default, the The Administrative Agent shall at all times shall, if it is exercising its remedies under Article V hereof, have the right to exchange the certificates representing Pledged Securities Securities, if any, for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement, to the extent permitted by the documentation governing such Pledged Equity Interests.

Registration in Nominee Name; Denominations. If Subject to Section 5.4 of the ABL Intercreditor Agreement, if an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified give the Grantors Parent Borrower prior notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent)Agent, and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities Equity registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities Equity for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement, to the extent permitted by the documentation governing such Pledged Securities.

Registration in Nominee Name; Denominations. Each Grantor will promptly give to the Administrative Agent copies of any material notices or other material communications received by it with respect to Pledged Collateral registered in the name of such Grantor. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors in writing of its intent to exercise such rights, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities Collateral in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred occur and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightsbe continuing, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent)Agent, and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement; provided that the Administrative Agent shall give the Parent Borrower prior notice of its intent to exercise such rights.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightsremedies, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified given the Grantors Borrower prior written notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable appli- cable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any written notices or other written communications received by it with respect to Pledged Securities Equity registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities Equity for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement., to the extent permitted by the documentation governing such Pledged Securities. SECTION 2.06

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified given the Grantors Parent Borrower prior written notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any written notices or other written communications received by it with respect to Pledged Securities Equity registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities Equity for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement, to the extent permitted by the documentation governing such Pledged Securities.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rights, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities Collateral in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities Collateral registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rights, the The Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or or, if an Event of Default shall have occurred and be continuing, in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent). To the extent the content thereof could, and individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each Grantor will promptly give to the Administrative Agent copies of any material notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of If an Event of DefaultDefault shall have occurred and be continuing, the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred occur and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightsbe continuing, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent)Agent, and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement; provided, that the Administrative Agent shall give the Borrower not less than 10 days’ prior notice of its intent to exercise such rights.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred occur and is continuing and the Administrative Agent shall have notified the Grantors of its intent to exercise such rightsbe continuing, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent)Agent, and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement; provided, that the Administrative Agent shall give the Parent Borrower prior notice of its intent to exercise such rights.

Registration in Nominee Name; Denominations. If an Event of Default shall have occurred and is be continuing and the Administrative Agent shall have notified give the Grantors applicable Grantor notice of its intent to exercise such rights, (a) the Administrative Agent, on behalf of the Secured Parties, shall have the right (subject to Section 2.07 hereof but otherwise in its sole and absolute discretion) to hold the Pledged Securities Equity in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities Equity registered in the name of such Grantor. Upon the occurrence Grantor and during the continuance of an Event of Default, (b) the Administrative Agent shall at all times have the right to exchange the certificates representing Pledged Securities Equity for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement.