Rights in Respect of Collateral Sample Clauses

Rights in Respect of Collateral. Notwithstanding any other provision of this Article, the Notes are secured by, and are entitled to receive free of the rights of the holders of Senior Indebtedness, payment of principal of, premium, if any, on, interest (including Additional Amounts, if any, and Special Interest, if any) on, and any other amounts due in respect to, the Notes from the proceeds of the Collateral and the assets constituting Collateral, and as to the Collateral and the assets constituting Collateral, the Notes rank senior in right of payment to the Senior Indebtedness as a result of the subordination provisions contained in the Senior Note Indenture and the Convertible Note Collateral Documents.
Sample 1
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Rights in Respect of Collateral. Subject to the Intercreditor Agreement, upon the occurrence and continuation of any Event of Default, in addition to all other rights of Secured Party, Secured Party will have the right and power, but will not be obligated, to enter upon and take possession of all or any part of the Collateral, exclude Pledgor therefrom, and to hold, use, administer, manage, and operate the same to the extent that Pledgor could do so. After a Default under the Note, Secured Party may exercise every power, right, and privilege of Pledgor with respect to the Collateral (including, without limitation, the right of collection) without any liability (SPECIFICALLY INCLUDING LIABILITY FOR ORDINARY OR PARTIAL NEGLIGENCE) to Pledgor in connection therewith except with respect to bad faith, gross negligence or willful misconduct; provided, however, that Secured Party may notify account debtors of Pledgor to make payments directly to Secured Party only after all cure periods, as provided in the Note, applicable to such Default have lapsed. Provided there has been no foreclosure sale, when and if such expenses of operation have been paid and the Obligations paid in full, the remaining Collateral shall be returned to Pledgor.
Sample 1
Rights in Respect of Collateral. Each of the Borrower and Holdings agree, on behalf of itself and on behalf of each of the other Loan Parties, that (i) in the event that Borrower, Holdings or any other Loan Party enters into or is a party to any agreement relating to Collateral that gives holders of Permitted Additional Secured Indebtedness (or any agent acting on their behalf) any rights, benefits or interests that are not given to the Administrative Agent or the Collateral Agent acting for the benefit of the Lenders, then the Borrower, Holdings or such other Loan Party, as applicable, shall notify the Administrative Agent and the Collateral Agent thereof and shall enter into such additional agreements as may be requested by the Administrative Agent and the Collateral Agent in order to give to the Administrative Agent and the Collateral Agent rights, benefits and interests that are not less than those given to the holders of Permitted Additional Secured Indebtedness (or any agent acting on their behalf), and (ii) in the event that any of the Permitted Additional Secured Documents give to holders of Permitted Additional Secured Indebtedness (or any agent acting on their behalf) any rights, benefits or interests relating to Collateral that the Administrative Agent does not have pursuant to the Collateral Documents, then the applicable Collateral Documents shall be automatically amended so as to give to the Administrative Agent such rights, and the Administrative Agent shall have such rights to the same extent as such holders of Permitted Additional Secured Indebtedness (or agent acting on their behalf).
Sample 1
Rights in Respect of Collateral. Upon the occurrence and continuation of any Event of Default, in addition to all other rights of Secured Party, Secured Party will have the right and power, but will not be obligated, to enter upon and take possession of all or any part of the Collateral, exclude Pledgor therefrom, and to hold, use, administer, manage, and operate the same to the extent that Pledgor could do so. After a Default under the Note, Secured Party may exercise every power, right, and privilege of Pledgor with respect to the Collateral (including, without limitation, the right of
Sample 1

Related to Rights in Respect of Collateral

  • Loss of Collateral There occurs any uninsured loss to any material portion of the Collateral; or

  • Voting Rights in Respect of the Pledged Collateral (i) So long as no Event of Default shall have occurred and be continuing, to the extent permitted by law, each Pledgor may exercise any and all voting and other consensual rights pertaining to the Pledged Collateral of such Pledgor or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement or the Credit Agreement; and (ii) Upon the occurrence and during the continuance of an Event of Default, all rights of a Pledgor to exercise the voting and other consensual rights that it would otherwise be entitled to exercise pursuant to paragraph (i) of this subsection shall cease and all such rights shall thereupon become vested in the Administrative Agent, which shall then have the sole right to exercise such voting and other consensual rights.

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

  • Substitution of Collateral A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.

  • Preservation of Collateral Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

  • Possession of Collateral Agent and Secured Parties appoint each Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting Liens in any Collateral held or controlled by such Lender, to the extent such Liens are perfected by possession or control. If any Lender obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions.

  • Protection of Collateral (a) The Issuer will (i) execute and deliver all such supplements and amendments to this Indenture and instruments of further assurance and other instruments, (ii) file or authorize and cause to be filed all such financing statements and amendments and continuations of such financing statements and (iii) take such other action, in each case necessary or advisable to: (A) maintain or preserve the Lien and security interest (and the priority of such security interest) of this Indenture or carry out more effectively the purposes of this Indenture; (B) perfect, publish notice of or protect the validity of any Grant made or to be made by this Indenture; (C) enforce any of the Collateral; or (D) preserve and defend title to the Collateral and the rights of the Indenture Trustee and the Secured Parties in the Collateral against the claims of all Persons. (b) The Issuer authorizes the Administrator and the Indenture Trustee to file any financing or continuation statements, and amendments to such statements, in all jurisdictions and with all filing offices as are necessary or advisable to preserve, maintain and protect the interest of the Indenture Trustee in the Collateral. Such financing and continuation statements may describe the Collateral in any manner as the Administrator or the Indenture Trustee may reasonably determine to ensure the perfection of the interest of the Indenture Trustee in the Collateral (including describing the Collateral as “all assets” of the Issuer). The Administrator or the Indenture Trustee, as applicable, will deliver to the Issuer file-stamped copies of, or filing receipts for, any such financing statement and continuation statement promptly upon such document becoming available following filing. (c) The Indenture Trustee is under no obligation (i) to make any determination of whether any such financing or continuation statements, and amendments to such statements, are required to be filed pursuant to this Section 3.5 or (ii) to file any such financing or continuation statements, or amendment to such statements, and will not be liable for failure to do so.

  • Assembly of Collateral Assemble and make available to the Administrative Agent the Collateral and all records relating thereto at any place or places specified by the Administrative Agent.

  • Rights in Collateral; Priority of Liens Borrower and each other Loan Party own the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens in favor of third parties. Upon the proper filing of UCC financing statements, and the taking of the other actions required by Lender, the Liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected (to the extent that Liens on the Collateral can be perfected by the filing of UCC financing statements) Liens on the Collateral in favor of Lender.

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Secured Party as set forth in Section 7.06 of the Credit Agreement.

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