Common use of Subsequent Changes Affecting Collateral Clause in Contracts

Subsequent Changes Affecting Collateral. Pledgor represents --------------------------------------- to Lender that Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral pledged by Pledgor (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Pledgor agrees that Lender shall have no responsibility or liability for informing Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. Pledgor covenants that it will not, without the prior written consent of Lender, except as expressly provided for and pursuant to the terms and conditions of Section 6.8(c) or (d) of the Loan Agreement, vote to enable, or take any other action to permit, any Issuer to issue any capital stock or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral pledged by Pledgor or create or permit to exist any Lien upon or with respect to any of the Pledged Collateral pledged by Pledgor, except for the security interests granted under this Agreement.

Appears in 2 contracts

Samples: Pledge Agreement (Pharmaceutical Resources Inc), Pledge Agreement (Pharmaceutical Resources Inc)

AutoNDA by SimpleDocs

Subsequent Changes Affecting Collateral. The Pledgor represents --------------------------------------- to Lender the Collateral Agent and the Holders that the Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral pledged by Pledgor (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and the Pledgor agrees that Lender the Collateral Agent and the Holders shall have no responsibility or liability for informing or not informing the Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. The Pledgor covenants that it will not, without the prior written consent of Lender, except as expressly provided for and pursuant to the terms and conditions of Section 6.8(c) or (d) of the Loan AgreementCollateral Agent, vote to enable, or take any other action to permit, any the Issuer to issue any capital stock or other securities or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral pledged by Pledgor or create or permit to exist any Lien upon or with respect to any of the Pledged Collateral pledged by PledgorCollateral, except for the security interests granted under this AgreementAgreement and the Permitted Security Interest. The Pledgor will defend the right, title and interest of the Collateral Agent and the Holders in and to the Pledged Collateral against the claims and demands of all Persons, except the claims and demands of the Old Collateral Agent.

Appears in 2 contracts

Samples: Indenture (Finlay Enterprises Inc /De), Security and Pledge Agreement (Finlay Enterprises Inc /De)

Subsequent Changes Affecting Collateral. The Pledgor represents --------------------------------------- to Lender the Collateral Agent and the Holders that the Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral pledged by Pledgor (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and the Pledgor agrees that Lender the Collateral Agent and the Holders shall have no responsibility or liability for informing the Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. The Pledgor covenants that it will not, without the prior written consent of Lender, except as expressly provided for the Collateral Agent and pursuant to the terms and conditions of Section 6.8(c) or (d) of the Loan AgreementHolders, vote to enable, or take any other action to permit, any the Issuer to issue any capital stock Capital Stock or other Equity Interest or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral pledged by Pledgor or create or permit to exist any Lien upon or with respect to any of the Pledged Collateral pledged by PledgorCollateral, except for the security interests granted under this Agreement. The Pledgor will defend the right, title and interest of the Collateral Agent and the Holders in and to the Pledged Collateral against the claims and demands of all Persons.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Willcox & Gibbs Inc /De), Pledge and Security Agreement (Willcox & Gibbs Inc /De)

Subsequent Changes Affecting Collateral. Each Pledgor represents --------------------------------------- to Lender the Collateral Agent and each Holder that such Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral pledged by Pledgor (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and such Pledgor agrees that Lender the Collateral Agent and the Holders shall have no responsibility or liability for informing such Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. Each Pledgor covenants that it will not, without the prior written consent of Lender, except the Collateral Agent as expressly provided for and pursuant to directed in writing by the terms and conditions of Section 6.8(c) or (d) of the Loan AgreementTrustee, vote to enable, or take any other action to permit, any the Issuer to issue any capital stock or other securities or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral pledged by Pledgor or create or permit to exist any Lien upon or with respect to any of the Pledged Collateral pledged by PledgorCollateral, except for the security interests granted under this Agreement. Each Pledgor will defend the right, title and interest of the Collateral Agent and the Holders in and to the Pledged Collateral against the claims and demands of all Persons.

Appears in 1 contract

Samples: Pledge Agreement (Shop Vac Corp)

AutoNDA by SimpleDocs

Subsequent Changes Affecting Collateral. The Pledgor --------------------------------------- represents --------------------------------------- to Lender the Collateral Agent and the Holders of Senior Secured Discount Notes that the Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral pledged by Pledgor (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and the Pledgor agrees that Lender the Collateral Agent and the Holders of Senior Secured Discount Notes shall have no responsibility or liability for informing the Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. The Pledgor covenants that it will not, without the prior written consent of Lender, except as expressly provided for and pursuant to the terms and conditions of Section 6.8(c) or (d) of the Loan AgreementCollateral Agent, vote to enable, or take any other action to permit, any the Issuer to issue any capital stock or other securities or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral pledged by Pledgor or create or permit to exist any Lien upon or with respect to any of the Pledged Collateral pledged by PledgorCollateral, except for the security interests granted under this Agreement. The Pledgor will defend the right, title and interest of the Collateral Agent and the Holders of Senior Secured Discount Notes in and to the Pledged Collateral against the claims and demands of all Persons.

Appears in 1 contract

Samples: Pledge Agreement (MRS Fields Holding Co Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!