Common use of Transfer of Pledged Equity Interests Clause in Contracts

Transfer of Pledged Equity Interests. All certificates and instruments, if any, representing or evidencing Pledged Equity Interests shall be within thirty (30) days of acquisition thereof (or such longer period as permitted by the Administrative Agent in its sole discretion) delivered to and held pursuant hereto by the Administrative Agent or a Person designated by the Administrative Agent and, in the case of any such instrument or certificate in registered form, shall be duly indorsed to the Administrative Agent or in blank by an effective endorsement (whether on the certificate or instrument or on a separate writing), and accompanied by any required transfer tax stamps to effect the pledge of such Pledged Equity Interests or instruments to the Administrative Agent in accordance with Section 6.05 hereof. During the continuance of an Event of Default, the Administrative Agent shall have the right, at any time in its discretion, to transfer to or to register in the name of the Administrative Agent, any Secured Party or any of its nominees any or all of the Pledged Equity Interests. In addition, during the continuance of an Event of Default, the Administrative Agent shall have the right at any time to exchange certificates or instruments representing or evidencing limited partnership interests or shares for certificates or instruments of smaller or larger denominations.