Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below. (b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder. (c) If a successor Collateral Agent shall not have been so appointed within said 5-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 5-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
Appears in 29 contracts
Samples: Security Agreement (Wearable Health Solutions, Inc.), Security Agreement (Mechanical Technology Inc), Security Agreement (GT Biopharma, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 10 days’ prior written notice (as provided in the Agreement) to the Debtors Debtor and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 510-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 510-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Debtor and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader action and expenses associated therewith, shall be payable by the Debtors Debtor on demand.
Appears in 4 contracts
Samples: Security and Pledge Agreement (Viking Energy Group, Inc.), Security and Pledge Agreement (Camber Energy, Inc.), Security and Pledge Agreement (Camber Energy, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 5-30- day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
Appears in 4 contracts
Samples: Security Agreement (Aditxt, Inc.), Security Agreement (Aditxt, Inc.), Security and Pledge Agreement (Muscle Maker, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 60 days’ ' prior written notice (as provided in the Agreement) to the Debtors Grantor and the Secured PartiesHolders. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, Holders shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 560-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if any, as the Secured Parties Majority Holders appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 560-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Grantor and the Secured Parties Holders in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, including but not limited to, to extraordinary fees associated with the filing of interpleader interpleader, and expenses associated therewith, therewith shall be payable by the Debtors on demandGrantor.
(d) The fees of any successor Collateral Agent for its services as such shall be payable by the Grantor.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Emagin Corp), Pledge and Security Agreement (Emagin Corp), Pledge and Security Agreement (Emagin Corp)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors Debtor and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Debtor and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader action and expenses associated therewith, shall be payable by the Debtors Debtor on demand.
Appears in 3 contracts
Samples: Security and Pledge Agreement (Viking Energy Group, Inc.), Security and Pledge Agreement (Viking Energy Group, Inc.), Security and Pledge Agreement (Viking Energy Group, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Patent and Trademark Security Agreement and the other Transaction Documents at any time by giving 5 days60 Business Days’ prior written notice (as provided in the Patent and Trademark Security Agreement) to the Debtors Grantor and the Secured PartiesHolders. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, Holders shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day 60 Business Day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if any, as the Secured Parties Majority Holders appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 560-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Grantor and the Secured Parties Holders in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, including but not limited to, to extraordinary fees associated with the filing of interpleader interpleader, and expenses associated therewith, therewith shall be payable by the Debtors Grantor.
(d) The fees of any successor Collateral Agent for its services as such shall be payable by the Grantor. This PATENT SECURITY AGREEMENT, dated as of July 21, 2006, made by eMagin Corporation, a Delaware corporation (the “Grantor”), to Alexandra Global Master Fund Ltd., a British Virgin Islands international business company, as collateral agent (in such capacity, the “Collateral Agent”) on demandbehalf of the Holders.
Appears in 3 contracts
Samples: Patent and Trademark Security Agreement (Emagin Corp), Patent and Trademark Security Agreement (Emagin Corp), Patent and Trademark Security Agreement (Emagin Corp)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Co-Diagnostics, Inc.), Security Agreement (Intellect Neurosciences, Inc.), Security Agreement (China Networks International Holdings LTD)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors Corporation and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, or if there is otherwise a vacancy as Collateral Agent, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent Agent, or if none or if he fails to act the Corporation, shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent Agent, the Corporation or MTIX may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors Secured Parties on demand.
Appears in 2 contracts
Samples: Share Exchange Agreement (DPW Holdings, Inc.), Share Exchange Agreement (Avalanche International, Corp.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by Parties holding a Majority in Interestmajority of the principal amount of Notes then outstanding, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
Appears in 2 contracts
Samples: Security Agreement (Consolidated Energy Inc), Security Agreement (Consolidated Energy Inc)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 days’ prior written notice (as provided in the Agreement) to the Debtors Company and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 5-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Company and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.successor
Appears in 2 contracts
Samples: Security Agreement (Location Based Technologies, Inc.), Security Agreement (Location Based Technologies, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties under the this Agreement and the other Transaction Documents at any time by giving 5 days’ 15 Business Days' prior or written notice (as provided in the Agreement) to the Debtors Assignors and the Secured PartiesLenders. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses clause (b) and or (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period15 Business Day period by the Required Secured Creditors, the Collateral Agent Agent, with the consent of each Assignor, which consent shall not be unreasonably withheld, shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if any, as the Required Secured Parties Creditors appoint a successor Collateral Agent as provided above. .
(c) If a no successor Collateral Agent has not been appointed within pursuant to clause (b) above by the 15th Business Day after the date of such 5-day period, notice of resignation was given by the Collateral Agent may petition any court Agent, as a result of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for failure by such Assignor to consent to the appointment of such a successor Collateral Agent, and all feesthe Required Secured Creditors shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, includingif any, but not limited to, extraordinary fees associated with as the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demandRequired Secured Creditors appoint a successor Collateral Agent as provided above.
Appears in 2 contracts
Samples: Security Agreement (Universal Compression Holdings Inc), Security Agreement (Universal Compression Inc)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
Appears in 2 contracts
Samples: Security Agreement (Attis Industries Inc.), Securities Purchase Agreement (Attis Industries Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents Senior Loan Documents, at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors Debtor and the Secured PartiesSenior Lender. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured PartiesSenior Lender, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-30- day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint Senior Lender appoints a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Debtor and the Secured Parties Senior Lender in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors Debtor on demand.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Co-Diagnostics, Inc.), Securities Purchase Agreement (Co-Diagnostics, Inc.)
Resignation by the Collateral Agent. a) MERGEFORMAT
(a) The Collateral Agent may resign from the performance of all of its functions and duties under the this Agreement and the other Transaction Documents at any time by giving 5 days’ 20 Business Days' prior written notice (as provided in the Agreement) to the Debtors each Assignor and the Secured PartiesCreditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses clause (b) and or (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period20 Business Day period by the Required Secured Creditors, the Collateral Agent Agent, with the consent of each Assignor, which consent shall not be unreasonably withheld, shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if any, as the Required Secured Parties Creditors appoint a successor Collateral Agent as provided above. .
(c) If no successor Collateral Agent has been appointed pursuant to clause (b) above by the 20th Business Day after the date such notice of resignation was given by the Collateral Agent, the Required Secured Creditors shall then appoint a successor Collateral Agent has not been appointed within such 5-day period, the who shall serve as Collateral Agent may petition any court of competent jurisdiction hereunder or may interplead thereunder until such time, if any, as the Debtors and the Required Secured Parties in a proceeding for the appointment of Creditors appoint a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demandAgent as provided above.
Appears in 1 contract
Samples: Credit Agreement (Eldertrust)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunderhereunder with, unless an Event of Default has occurred and is continuing, the consent of the Company (which consent shall not be unreasonably withheld or delayed).
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
Appears in 1 contract
Samples: Security Agreement (Vaccinex, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 days’ prior written notice (as provided in the Agreement) to the Debtors Debtor and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 5-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Debtor and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors Debtor on demand.
Appears in 1 contract
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties under the this Agreement and the other Transaction Documents at any time by giving 5 days’ 15 Business Days' prior or written notice (as provided in the Agreement) to the Debtors Assignors and the Secured PartiesCreditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses clause (b) and or (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period15 Business Day period by the Required Secured Creditors, the Collateral Agent Agent, with the consent of the Company, which consent shall not be unreasonably withheld, shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if any, as the Required Secured Parties Creditors appoint a successor Collateral Agent as provided above. .
(c) If a no successor Collateral Agent has not been appointed within pursuant to clause (b) above by the 15th Business Day after the date of such 5-day period, notice of resignation was given by the Collateral Agent may petition any court Agent, as a result of competent jurisdiction or may interplead a failure by the Debtors and the Secured Parties in a proceeding for Company to consent to the appointment of such a successor Collateral Agent, and all feesthe Required Secured Creditors shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, includingif any, but not limited to, extraordinary fees associated with as the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demandRequired Secured Creditors appoint a successor Collateral Agent as provided above.
Appears in 1 contract
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 5-day period, the Collateral Collateral: Agent may petition any court of competent jurisdiction or may interplead inter-plead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.. TO: Palladium Capital Advisors, LLC 200 Xxxx Xxxxxx, Xxxxx 000 Xxx Xxxx, XX 00000 Fax: (000) 000-0000
Appears in 1 contract
Samples: Securities Purchase Agreement (Accelerated Pharma, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent Secured Parties pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
Appears in 1 contract
Samples: Security and Pledge Agreement (Nac Global Technologies, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Security Agreement and the other Transaction Documents at any time by giving 5 days’ 60 Business Days' prior written notice (as provided in the Security Agreement) to the Debtors Grantor and the Secured PartiesHolders. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, Holders shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day 60 Business Day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if any, as the Secured Parties Majority Holders appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 560-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Grantor and the Secured Parties Holders in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, including but not limited to, to extraordinary fees associated with the filing of interpleader interpleader, and expenses associated therewith, therewith shall be payable by the Debtors on demandGrantor.
(d) The fees of any successor Collateral Agent for its services as such shall be payable by the Grantor.
Appears in 1 contract
Samples: Security Agreement (Cephalon Inc)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties under the this Agreement and the other Transaction Documents at any time by giving 5 days’ 15 Business Days' prior or written notice (as provided in the Agreement) to the Debtors Assignor and the Secured PartiesCreditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses clause (b) and or (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period15 Business Day period by the Required Secured Creditors, the Collateral Agent Agent, with the consent of the Assignor, which consent shall not be unreasonably withheld, shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if any, as the Required Secured Parties Creditors appoint a successor Collateral Agent as provided above. .
(c) If a no successor Collateral Agent has not been appointed within pursuant to clause (b) above by the 15th Business Day after the date of such 5-day period, notice of resignation was given by the Collateral Agent may petition any court Agent, as a result of competent jurisdiction or may interplead a failure by the Debtors and the Secured Parties in a proceeding for Assignor to consent to the appointment of such a successor Collateral Agent, and all feesthe Required Secured Creditors shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, includingif any, but not limited to, extraordinary fees associated with as the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demandRequired Secured Creditors appoint a successor Collateral Agent as provided above.
Appears in 1 contract
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties under the this Agreement and the other Transaction Documents at any time by giving 5 days’ 15 Business Days' prior or written notice (as provided in the Agreement) to the Debtors Assignors and the Secured PartiesBanks. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses clause (b) and or (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period15 Business Day period by the Required Secured Creditors, the Collateral Agent Agent, with the consent of each Assignor, which consent shall not be unreasonably withheld, shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, if any, as the Required Secured Parties Creditors appoint a successor Collateral Agent as provided above. .
(c) If a no successor Collateral Agent has not been appointed within pursuant to clause (b) above by the 15th Business Day after the date of such 5-day period, notice of resignation was given by the Collateral Agent may petition any court Agent, as a result of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for failure by such Assignor to consent to the appointment of such a successor Collateral Agent, and all feesthe Required Secured Creditors shall then appoint a successor Collateral Agent who shall serve as Collateral Agent hereunder or thereunder until such time, includingif any, but not limited to, extraordinary fees associated with as the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demandRequired Secured Creditors appoint a successor Collateral Agent as provided above.
Appears in 1 contract
Samples: Security Agreement (Universal Compression Holdings Inc)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, Interest shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 5-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
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Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunderhereunder with, unless an Event of Default has occurred and is continuing, the consent of the Company (which consent shall not be unreasonably withheld or delayed).
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.
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Samples: Security Agreement (Vaccinex, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 10 calendar days’ ' prior written notice (as provided in the Agreement) to the Debtors Borrower and the Secured PartiesLender. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured PartiesLender, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties Lender appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Borrower and the Secured Parties Lender in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors Borrower on demand.
Appears in 1 contract
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the any other Transaction Documents documents at any time by giving 5 days’ prior written notice (as provided in the Agreement) to the Debtors Pledgors and the Secured PartiesHolders. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured PartiesHolders, acting by a Majority in InterestHolder Majority, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 5-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties Holders appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 5-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Company, Pledgors and the Secured Parties Holders in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors Pledgors on demand.
Appears in 1 contract
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 10 days’ ' prior written notice (as provided in the Agreement) to the Debtors Debtor and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 510-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 510-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Debtor and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader action and expenses associated therewith, shall be payable by the Debtors Debtor on demand.
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Samples: Security and Pledge Agreement (Viking Energy Group, Inc.)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors Borrowers and the Secured PartiesLenders. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured PartiesLenders, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties Lenders appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Borrowers and the Secured Parties Lenders in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors Borrowers on demand.
Appears in 1 contract
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ ' prior written notice (as provided in the Agreement) to the Debtors Grantor and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Grantor and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors Grantor on demand.
Appears in 1 contract
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 30 days’ prior written notice (as provided in the Agreement) to the Debtors Company and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral Agent hereunder.
(c) If a successor Collateral Agent shall not have been so appointed within said 530-day period, the Collateral Agent shall then appoint a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 530-day period, the Collateral Agent may petition any court of competent jurisdiction or may interplead the Debtors Company and the Secured Parties in a proceeding for the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Debtors Company on demand.
Appears in 1 contract
