Common use of Retention of Pledged Collateral Clause in Contracts

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Agent may, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 11 contracts

Samples: Pledge Agreement (Fresh Foods Inc), Credit Agreement (Extendicare Health Services Inc), Credit Agreement (Delta Woodside Industries Inc /Sc/)

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Retention of Pledged Collateral. In To the extent permitted under applicable law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Collateral Agent may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 10 contracts

Samples: Pledge Agreement (School Specialty Inc), Pledge Agreement (U S Restaurant Properties Inc), Pledge Agreement (Ptek Holdings Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Collateral Agent may, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 4 contracts

Samples: Pledge Agreement (Lincare Holdings Inc), Pledge Agreement (Lincare Holdings Inc), Pledge Agreement (Usc May Verpackungen Holding Inc)

Retention of Pledged Collateral. In To the extent permitted under applicable Law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of DefaultDefault and during the continuation thereof, the Collateral Agent may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law Law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 3 contracts

Samples: Pledge Agreement (HSN, Inc.), Credit Agreement (HSN, Inc.), Pledge Agreement (HSN, Inc.)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the The Agent may, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 3 contracts

Samples: Credit Agreement (Personnel Group of America Inc), Credit Agreement (Personnel Group of America Inc), Pledge Agreement (Ivex Packaging Corp /De/)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Agent may, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 2 contracts

Samples: Credit Agreement (Vestar Sheridan Inc), Credit Agreement (Vestar Sheridan Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of DefaultDefault and during the continuation thereof, the Administrative Agent may, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 2 contracts

Samples: Pledge Agreement (Integrated Defense Technologies Inc), Pledge Agreement (Sleepmaster LLC)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of DefaultDefault and during the continuation thereof, the Agent may, after providing the notices required by Section 9-505(2) 621 of the UCC (or any successor sections of the UCC) or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in full or partial satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 2 contracts

Samples: Pledge Agreement (Transmontaigne Inc), Pledge Agreement (TransMontaigne Partners L.P.)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Agent may, after providing the notices required by Section 9-505(2) 621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 2 contracts

Samples: Stock Pledge Agreement (Infocrossing Inc), Stock Pledge Agreement (Infocrossing Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Agent may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Lincare Holdings Inc)

Retention of Pledged Collateral. In To the extent permitted under applicable law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Agent may, after providing the notices required by Section 9-505(2620(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 1 contract

Samples: Credit Agreement (Apria Healthcare Group Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Collateral Agent may, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Rehabcare Group Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Collateral Agent may, after providing the notices required by Section 9-505(2) 621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Usc May Verpackungen Holding Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Agent may, after providing the notices and obtaining consents required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Nacco Industries Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Agent may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Lincare Holdings Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Collateral Agent mayshall at the direction of the Administrative Agent, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 1 contract

Samples: Credit Agreement (Delta Woodside Industries Inc /Sc/)

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Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of DefaultDefault and during the continuation thereof, the Agent may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC (or any successor sections of the UCC) or otherwise complying with the notice requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Unifi Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the The Agent may, after providing the notices required by Section 9-505(2) of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 1 contract

Samples: Credit Agreement (Genicom Corp)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Collateral Agent (for the ratable benefit of the Lenders) may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (PRG Schultz International Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of DefaultDefault and during the continuation thereof, the Agent may, after providing the notices required by Section 9-505(2) 620 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Wolverine Tube Inc)

Retention of Pledged Collateral. In To the extent permitted under applicable law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Agent may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC (or any successor sections of the UCC) or otherwise complying with the requirements of applicable law of the relevant jurisdiction, retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 1 contract

Samples: Credit Agreement (Apria Healthcare Group Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Agent may, after providing the notices and obtaining the consents required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any the Pledgor Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Nacco Industries Inc)

Retention of Pledged Collateral. In To the extent permitted under applicable law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of DefaultDefault and during the continuation thereof, the Collateral Agent may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 1 contract

Samples: Security Agreement (Ticketmaster Entertainment, Inc.)

Retention of Pledged Collateral. In To the extent permitted under applicable Law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Collateral Agent may, after providing the notices required by Section Sections 9-505(2) 620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law Law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Secured Obligations. Unless and until the Collateral Agent shall have provided such notices, however, the Collateral Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Pledgor Secured Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Rehabcare Group Inc)

Retention of Pledged Collateral. In addition to the rights and remedies hereunder, upon the occurrence of an Event of DefaultDefault and during the continuation thereof, the Agent may, after providing the notices required by Section 9-505(2) 620 of the UCC Amended and Restated Pledge Agreement or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Pledgor Obligations. Unless and until the Agent shall have provided such notices, however, the Agent shall not be deemed to have retained any Pledged Collateral in satisfaction of any Pledgor Obligations for any reason.

Appears in 1 contract

Samples: Pledge Agreement (Wolverine Tube Inc)

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