Rights During Event of Default. With respect to any Investment Collateral, so long as an Event of Default has occurred and is continuing:
Rights During Event of Default. When an Event of Default has occurred and is continuing:
Rights During Event of Default. 8.1 With respect to any Investment Collateral in the possession of the Grantor, so long as an Event of Default has occurred and is continuing:
(a) at the option of the Noteholders, all rights of the Grantor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section (a) of Article VII above, and to receive the dividends and distributions which it would otherwise be authorized to receive and retain pursuant to Section (b) of Article VIII above, shall cease, and all such rights thereupon shall become vested in the Noteholders which thereupon shall have the sole right to exercise such voting and other consensual rights and to receive and to hold as pledged Investment Collateral such dividends and distributions.
(b) all dividends and other distributions which are received by a Grantor contrary to the provisions of this Agreement shall be held in trust for the benefit of the Noteholders, shall be segregated from other funds of the Grantor and forthwith shall be paid over to the Noteholders as pledged Collateral in the same form as so received (with any necessary endorsements).
Rights During Event of Default. With respect to any Investment Collateral in the possession of the Secured Parties, so long as an Event of Default has occurred and is continuing:
Rights During Event of Default. During the existence of an Event of Default, the Grantors shall be in default hereunder and, subject to applicable law, Agent, shall have, in any jurisdiction where enforcement is sought, in addition to all other rights and remedies that Agent may have under this Agreement and under applicable laws or in equity, all rights and remedies of a secured party under the Uniform Commercial Code as enacted in any such jurisdiction in effect at that time, and in addition the following rights and remedies in accordance with applicable law, all of which may be exercised at the direction of Required Guarantors (provided, that if the Columbia Entities desire to take an enforcement action that Required Guarantors have not consented to, the Agent shall take such enforcement action as the Columbia Entities direct the Agent to take, provided further, that Agent shall not take such enforcement action until the earlier of (A) the 120th day after receipt by Agent of written notice of such enforcement action from the Columbia Entities or (B) such time as the Required Guarantors have provided their consent to such enforcement actions), with or without further prior notice to the Grantors except such notice as may be specifically required by applicable law: (i) to foreclose the Liens and security interests created hereunder or under any other Operative Document by any available judicial procedure or without judicial process; (ii) to enter peaceably any premises where any Collateral may be located for the purpose of securing, protecting, inventorying, appraising, inspecting, repairing, preserving, storing, preparing, processing, taking possession of or removing the same; (iii) to sell, assign, lease or otherwise dispose of any Collateral or any part thereof, either at public or private sale or at any broker's board, in lot or in bulk, for cash, on credit or otherwise, with or without representations or warranties and upon such terms as shall be commercially reasonable; (iv) to notify obligors on the Collateral that the Collateral has been assigned to Agent and that all payments thereon, or performance with respect thereto, are to be made directly and exclusively to Agent; (v) to collect by legal proceedings or otherwise all dividends, distributions, interest, principal or other sums now or hereafter payable upon or on account of the Collateral; (vi) to enter into any extension, reorganization, disposition, merger or consolidation agreement, or any other agreement relating to or a...
Rights During Event of Default. Following the occurrence and during the continuance of any Event of Default, but subject to compliance with Gaming Laws:
Rights During Event of Default. When an Event of Default has occurred and is continuing, subject to receipt of all required approvals from any applicable Gaming Authority:
Rights During Event of Default. When an Event of Default under the Loan Agreement or this Agreement has occurred and is continuing:
(a) VOTING, DIVIDEND, AND DISTRIBUTION RIGHTS. At the option of Bank, all rights of Grantor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 6(a) above, and to receive the dividends and distributions which it would otherwise be authorized to receive and retain pursuant to Section 6(b) above, shall cease, and all such rights shall thereupon become vested in Bank who shall thereupon have the sole right to exercise such voting and other consensual rights and to receive and to hold as Pledged Collateral such dividends and distributions. Bank shall give notice thereof to Grantor; PROVIDED, HOWEVER, that (i) neither the giving of such notice nor the receipt thereof by Grantor shall be a condition to exercise of any rights of Bank hereunder, and (ii) Bank shall incur no liability for failing to give such notice.
Rights During Event of Default. When a Bankruptcy Default, Payment Default or Event of Default has occurred and is continuing:
Rights During Event of Default. With respect to any Investment Collateral, so long as an Event of Default has occurred and is continuing:
(a) Voting, Dividend, and Distribution Rights. At the option of Secured Party, all rights of Grantors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 10(a) above, and to receive the dividends and distributions which it would otherwise be authorized to receive and retain pursuant to Section 10(b) above, shall cease, and all such rights thereupon shall become vested in Secured Party which thereupon shall have the sole right to exercise such voting and other consensual rights and to receive and to hold as pledged Collateral such dividends and distributions.
