Substitution for Pledgor Sample Clauses
Substitution for Pledgor. If an Event of Default shall have occurred and be continuing, then, in addition to any other rights and remedies provided for herein or otherwise available to it under any Loan Document or by law, the Pledgee may, and upon the request of the Lenders shall, exercise the powers of attorney set forth in Section 4.1 of this Agreement, and shall be entitled, without limitation, to exercise the following rights, which the Pledgor hereby agrees to be commercially reasonable:
Substitution for Pledgor. If an Event of Default shall have occurred and be continuing, then, in addition to any other rights and remedies provided for herein or otherwise available to it, the Security Agent may exercise the powers of attorney set forth in Section 4.1 of this Agreement and manage (or designate another Person to manage) the operations, business and affairs of the Corporation.
Substitution for Pledgor. If an Event of Default under ------------------------ any of the Obligations Documents shall have occurred and be continuing, then, in addition to any other rights and remedies provided for herein or otherwise available to it, Lessor may (i) complete the Stock Powers and deliver the same to the Lessee, register the Pledged Shares, or any of them, in the name of Lessor or its nominee as pledgee or (ii) exercise the powers of attorney set forth in Section 4.1 and manage the operations, business and affairs of Lessee in accordance with, and to the extent permitted by, the terms of its Articles of Incorporation, by-laws or other organizational documents (including, without limitation, taking whatever action is necessary to effect the transfer of the Pledged Shares on the books of Lessee to Lessor or its nominee or to allow Lessor or its nominee to elect a new board of directors of Lessee or appoint new officers of Lessee).