Rights of the Pledgor under the Promissory Notes Sample Clauses

Rights of the Pledgor under the Promissory Notes. The Parties hereto agree that, for the dispossession requirement, in compliance with Article 6 (1) d) of the law of 5 August 2005 on financial collateral arrangements, the Pledgor shall proceed to the endorsement of each Promissory Note by using the following wording: “For the purpose of Article 6 (1) d) of the law of 5 August 2005 on financial collateral arrangements, and pursuant to a pledge agreement dated [date] all rights owned by the Payee under this Promissory Note have been pledged as a second rank pledge in favour of The Bank of New York, acting as Security Agent.”
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Rights of the Pledgor under the Promissory Notes. The Parties hereto agree that, for the dispossession requirement, in compliance with Article 5 (2) d) of the law of 5 August 2005 on financial collateral arrangements, the Pledgor shall proceed to the endorsement of each Promissory Note by using the following wording: “For the purpose of Article 5 (2) d) of the law of 5 August 2005 on financial collateral arrangements, and pursuant to a pledge agreement dated [date] all rights owned by the Payee under this Promissory Note have been pledged in favour of Credit Suisse, acting as Security Agent.”
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Related to Rights of the Pledgor under the Promissory Notes

  • ENFORCEMENT OF THE PLEDGE 6.1 If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the enforcement of the Pledges are met (Pfandreife), in particular, if any of the Obligations have become due and payable, then in order to enforce the Pledges, the Collateral Agent (acting on the instructions of the Secured Parties) may at any time thereafter avail itself of all rights and remedies that a pledgee has against a pledgor under the laws of the Federal Republic of Germany.

  • 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

  • of the Pledge Agreement Upon the occurrence of a Termination Event, the Company shall promptly but in no event later than two Business Days thereafter give written notice to the Agent, the Collateral Agent and to the Holders, at their addresses as they appear in the Register.

  • Certain Rights of the Collateral Agent The Collateral Agent shall have the right to take any action with respect to the Collateral, on behalf of all of the Secured Parties. To the extent practical, the Collateral Agent shall request instructions from the Secured Parties with respect to any material act or action (including failure to act) in connection with the Agreement or any other Transaction Document, and shall be entitled to act or refrain from acting in accordance with the instructions of Secured Parties holding a majority in principal amount of Notes (based on then-outstanding principal amounts of Notes at the time of any such determination); if such instructions are not provided despite the Collateral Agent’s request therefor, the Collateral Agent shall be entitled to refrain from such act or taking such action, and if such action is taken, shall be entitled to appropriate indemnification from the Secured Parties in respect of actions to be taken by the Collateral Agent; and the Collateral Agent shall not incur liability to any person or entity by reason of so refraining. Without limiting the foregoing, (a) no Secured Party shall have any right of action whatsoever against the Collateral Agent as a result of the Collateral Agent acting or refraining from acting hereunder in accordance with the terms of the Agreement or any other Transaction Document, and the Debtors shall have no right to question or challenge the authority of, or the instructions given to, the Collateral Agent pursuant to the foregoing and (b) the Collateral Agent shall not be required to take any action which the Collateral Agent believes (i) could reasonably be expected to expose it to personal liability or (ii) is contrary to this Agreement, the Transaction Documents or applicable law.

  • Exercise of Rights in Pledged Collateral (i) Without in any way limiting the foregoing and subject to clause (ii) below, such Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Security Agreement, the Credit Agreement or any other Loan Document; provided however, that no vote or other right shall be exercised or action taken which would have the effect of impairing the rights of the Administrative Agent in respect of such Pledged Collateral.

  • Covenants as to the Pledged Collateral So long as any Secured Obligations shall remain outstanding, the Pledgor will, unless the Required Holders, shall otherwise consent in writing:

  • Exercise of the Pledge 8.1 The Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge.

  • Covenants of the Pledgor 5.1 The Pledgor covenants to the Pledgee that he shall:

  • Method of Realizing Upon the Pledged Property: Other Remedies Upon the occurrence of an Event of Default, in addition to any rights and remedies available at law or in equity, the following provisions shall govern the Secured Party’s right to realize upon the Pledged Property:

  • Events of Default Rights and Remedies Section 7.1 Events of Default.

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