SECURITIES AS COLLATERAL Clause Samples
SECURITIES AS COLLATERAL. (i) Company agrees to deliver and pledge to Collateral Agent hereunder for the benefit of the Noteholders any certificate representing any securities (other than securities of AGW which shall be delivered under the Pledge Agreement), within five (5) days of Company's receipt of the same, together with stock powers or other appropriate instruments of assignment with respect thereto, in form and substance reasonably satisfactory to Collateral Agent, duly executed in blank, regarding the securities.
(ii) Collateral Agent may at any time after the occurrence and during the continuance of an Event of Default, at its option, transfer to itself or any nominee any other securities constituting Collateral, receive any income thereon and hold such income as additional Collateral or apply it to the Obligations. If Collateral Agent so elects to exercise its right herein and gives notice of such election to Company, upon the occurrence and during the continuance of an Event of Default, Collateral Agent may vote any or all of the securities constituting Collateral possessing voting rights (whether or not the same shall have been transferred into its name or the name of its nominee or nominees) and give all consents, waivers and ratifications in respect of the securities constituting Collateral and otherwise act with respect thereto as though it were the outright owner thereof, Company hereby irrevocably constituting and appointing Collateral Agent the proxy and attorney-in-fact, of Company, with full power of substitution, to do so. So long as no Event of Default is continuing, Company shall be entitled to receive all cash dividends paid in respect of the securities, to vote the securities and to give consents, waivers and ratifications in respect of the securities, provided that no vote shall be cast, or consent, waiver or ratification given or action taken which would be inconsistent with or violate any provisions of this Agreement, any of the Security Documents or the Indenture.
(iii) Any sums paid upon or with respect to any of the securities upon the liquidation or dissolution of the issuer thereof shall be paid over to Collateral Agent to be held by it as security for the Obligations; and in case any distribution of capital shall be made on or in respect of any of the securities or any property shall be distributed upon or with respect to any of the securities pursuant to the recapitalization or reclassification of the capital of the issuer thereof or pursuant to ...
SECURITIES AS COLLATERAL. Where Collateral includes securities, the Secured Party may require the Debtor to transfer such securities into the Secured Party's name so that the Secured Party may appear of record as the sole owner of the securities. Until default, the Debtor may retain by way of proxy the voting and dividend rights attached to any such securities and the Secured Party will facilitate exercise of those dividend and voting rights.
SECURITIES AS COLLATERAL. The Secured Party may at any time, at its option, transfer to itself or any nominee any securities constituting Collateral, receive any income thereon and hold such income as additional Collateral or apply it to the Obligations. Whether or not the Obligations are due, the Secured Party may demand, s▇▇ for, collect, or make any settlement or compromise it deems desirable with respect to the Collateral. Regardless of the adequacy of the Collateral or any other security for the Obligations, any deposits or other sums credited by or due from the Secured Party to the Company may at any time be applied to or set off against any of the Obligations. The Secured Party and all present and future holders of and participants in the Obligations hereby agree that the amount of any such setoff shall be applied as provided in Section 3 hereof.
SECURITIES AS COLLATERAL. To deliver securities owned for the Account of such Portfolio for the purpose of pledge or hypothecation to secure any loan (including a reverse repurchase agreement) incurred by the Trust; provided that securities shall be released only upon payment to Northern of the monies borrowed, except that in cases where additional collateral is required to secure a borrowing already made, subject to proper prior authorization, further securities may be delivered for that purpose. Upon issuance of proper instructions, Northern shall pay such loan upon redelivery to it of the securities pledged or hypothecated therefor and upon surrender of the note or notes, if any, evidencing the loan.
SECURITIES AS COLLATERAL. If any of the property which is part of the Collateral is a security:
3.1. Obligor has delivered to Bank the certificates or other instruments representing the securities, together with stock powers or other instruments of transfer satisfactory to Bank executed in blank by Obligor for each such certificate or instrument.
3.2. Bank may transfer the security into its name or the name of its nominee for so long as the security remains part of the Collateral.
3.3. The issuer of any security which is part of the Collateral is hereby granted the authority to make the transfer into Bank's name or the name of Bank's nominee.
3.4. So long as there is no default by Obligor hereunder, Obligor shall have and retain all voting rights with respect to the securities, and all income from the securities shall be paid and delivered to Obligor; provided, however, that any securities received by Obligor by reason of Obligor's ownership of the securities pledged hereunder shall be promptly delivered to Bank as part of the Collateral.
SECURITIES AS COLLATERAL. Subject to the subordination provisions contained in the Note with respect to the Senior Debt and the Senior Debt Documents (as such terms are defined in the Note), the Company agrees that all securities constituting Collateral shall be delivered to and held by or on behalf of Secured Party pursuant hereto and shall be in suitable form for transfer by delivery or, as applicable, shall be accompanied by the Company’s endorsement, where necessary, or duly executed instruments of transfer or assignments in blank, all in form and substance reasonably satisfactory to the Secured Party. So long as no Event of Default (as defined below) shall have occurred and be continuing, (a) the Company shall be entitled to exercise any and all voting and other consensual rights pertaining to such securities or any part thereof for any purpose not prohibited by the terms of this Agreement or the Note; provided, that the Company shall not exercise or refrain from exercising any such right if the Secured Party shall have notified the Company that, in Secured Party’s judgment, such action would have a material adverse effect on the value of such securities or any part thereof; and (b) the Company shall be entitled to receive and retain any and all dividends, other distributions, principal and interest paid in respect of such securities.
SECURITIES AS COLLATERAL. To deliver securities owned for the account of ------------------------ such Portfolio to any bank or trust company for the purpose of pledge or hypothecation to secure any loan incurred by the Fund; provided that securities shall be released only upon payment to State Street of the monies borrowed, except that in cases where additional collateral is required to secure a borrowing already made, subject to proper prior authorization, further securities may be delivered for that purpose. Upon receipt of proper instructions, State Street shall pay such loan upon redelivery to it of the securities pledged or hypothecated therefore and upon surrender of the note or notes evidencing the loan.