Common use of Rights During Event of Default Clause in Contracts

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. 8.1 With respect to any Investment Collateral in the possession of the GrantorCollateral, so long as an Event of Default has occurred and is continuing: (a) at the option of the NoteholdersCollateral Agent, subject to the direction of the Requisite Holders (as defined below), all rights of the Grantor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section (a7.1(a) of Article VII abovehereof, and to receive the dividends and distributions which it would otherwise be authorized to receive and retain pursuant to Section (b7.1(b) of Article VIII abovehereof, shall cease, and all such rights thereupon shall become vested in the Noteholders Collateral Agent for the benefit of the Holders 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.; and (b) all dividends and other distributions which that are received by a the Grantor contrary to the provisions of this Agreement shall be held in trust for the benefit of the NoteholdersCollateral Agent on behalf of the Holders, shall be segregated from other funds of the Grantor and forthwith shall be paid over to Collateral Agent for the Noteholders benefit of the Holders as pledged Collateral in the same form as so received (with any necessary endorsements).

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 NoteholdersCollateral Agent, 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 abovehereof, and to receive the dividends and distributions which it would otherwise be authorized to receive and retain pursuant to Section (b) of Article VIII abovehereof, shall cease, and all such rights thereupon shall become vested in the Collateral Agent for the benefit of 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.; and (b) all dividends and other distributions which that are received by a the Grantor contrary to the provisions of this Agreement shall be held in trust for the benefit of the Collateral Agent on behalf of the Noteholders, shall be segregated from other funds of the Grantor and forthwith shall be paid over to Collateral Agent for the benefit of the Noteholders as pledged Collateral in the same form as so received (with any necessary endorsements).

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 continuingcontinuing and subject to the satisfaction of obligations in favor of the Senior Lender: (a) at the option of the NoteholdersCollateral Agent, 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 abovehereof, and to receive the dividends and distributions which it would otherwise be authorized to receive and retain pursuant to Section (b) of Article VIII abovehereof, shall cease, and all such rights thereupon shall become vested in the Collateral Agent for the benefit of 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.; and (b) all dividends and other distributions which that are received by a the Grantor contrary to the provisions of this Agreement shall be held in trust for the benefit of the Collateral Agent on behalf of the Noteholders, shall be segregated from other funds of the Grantor and forthwith shall be paid over to Collateral Agent for the benefit of the Noteholders as pledged Collateral in the same form as so received (with any necessary endorsements).

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 continuingcontinuing and subject to the rights of the holders of the Pari Passu Notes: (a) at the option of the NoteholdersCollateral Agent, 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 abovehereof, and to receive the dividends and distributions which it would otherwise be authorized to receive and retain pursuant to Section (b) of Article VIII abovehereof, shall cease, and all such rights thereupon shall become vested in the Collateral Agent for the benefit of 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.; and (b) all dividends and other distributions which that are received by a the Grantor contrary to the provisions of this Agreement shall be held in trust for the benefit of the Collateral Agent on behalf of the Noteholders, shall be segregated from other funds of the Grantor and forthwith shall be paid over to Collateral Agent for the benefit of the Noteholders as pledged Collateral in the same form as so received (with any necessary endorsements).

Rights During Event of Default. 8.1 With respect to any Investment Collateral in the possession of the GrantorCollateral, so long as an Event of Default has occurred and is continuing, but expressly subject in all respects to the priority lien and related rights of the holders of the Senior Notes: (a) at the option of the NoteholdersCollateral Agent, subject to the direction of the Requisite Holders (as defined below), all rights of the Grantor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section (a7.1(a) of Article VII abovehereof, and to receive the dividends and distributions which it would otherwise be authorized to receive and retain pursuant to Section (b7.1(b) of Article VIII abovehereof, shall cease, and and, subject in all respects to prior rights of the holders of the Senior Notes, all such rights thereupon shall become vested in the Noteholders Collateral Agent for the benefit of the Holders 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.; and (b) all dividends and other distributions which that are received by a the Grantor contrary to the provisions of this Agreement shall be held in trust for the benefit of the NoteholdersCollateral Agent on behalf of the Holders, shall be segregated from other funds of the Grantor and and, subject in all respects to prior rights of the holders of the Senior Notes, forthwith shall be paid over to Collateral Agent for the Noteholders benefit of the Holders as pledged Collateral in the same form as so received (with any necessary endorsements).