Common use of Transfer of Record Ownership Clause in Contracts

Transfer of Record Ownership. At any time when an Event of Default shall have occurred and be continuing, the Applicable Agent may (and to the extent that action by it is required, the relevant Lien Grantor, if directed to do so by the Applicable Agent, will as promptly as practicable) cause each of the Pledged Securities (or any portion thereof specified in such direction) to be transferred of record into the name of the Applicable Agent or its nominee. Each Lien Grantor will take any and all actions reasonably requested by the Applicable Agent to facilitate compliance with this Section. If the provisions of this Section are implemented, Section 7(b) shall not thereafter apply to any Pledged Security that is registered in the name of the Applicable Agent or its nominee. The Applicable Agent will promptly give to the relevant Lien Grantor copies of any notices and other communications received by the Applicable Agent with respect to Pledged Securities registered in the name of the Applicable Agent or its nominee.

Transfer of Record Ownership. At any time when an Event of Default shall have occurred and be continuing, the Applicable Administrative Agent may (and to the extent that action by it is required, the relevant Lien Grantor, if directed to do so by the Applicable Administrative Agent, will as promptly as practicable) cause each of the Pledged Securities (or any portion thereof specified in such direction) to be transferred of record into the name of the Applicable Administrative Agent or its nominee. Each Lien Grantor will take any and all actions reasonably requested by the Applicable Administrative Agent to facilitate compliance with this Section. If the provisions of this Section are implemented, Section 7(b9(b) shall not thereafter apply to any Pledged Security that is registered in the name of the Applicable Administrative Agent or its nominee. The Applicable Administrative Agent will promptly give to the relevant Lien Grantor copies of any notices and other communications received by the Applicable Administrative Agent with respect to Pledged Securities registered in the name of the Applicable Administrative Agent or its nominee.

Transfer of Record Ownership. At any time when an Event of Default shall have occurred and be continuing, the Applicable Agent may (and to the extent that action by it is required, the relevant Lien Grantor, if directed to do so by the Applicable Agent, will as promptly as practicable) cause each of the Pledged Securities (or any portion thereof specified in such direction) to be transferred of record into the name of the Applicable Agent or its nominee. Each Lien Grantor will take any and all actions reasonably requested by the Applicable Agent to facilitate compliance with this Section. If the provisions of this Section are implemented, Section 7(b) shall not thereafter apply to any Pledged Security that is registered in the name of the Applicable Agent or its nominee. The Applicable Agent will promptly give to the relevant Lien Grantor copies of any notices and other communications received by the Applicable Agent with respect to Pledged Securities registered in the name of the Applicable Agent or its nominee.

Transfer of Record Ownership. At any time when an Event of Default shall have occurred and be continuing, the Applicable Agent may (and to the extent that action by it is required, the relevant Lien Grantor, if directed to do so by the Applicable Agent, will as promptly as practicable) cause each of the Pledged Securities (or any portion thereof specified in such direction) to be transferred of record into the name of the Applicable Agent or its nominee. Each Lien Grantor will take any and all actions reasonably requested by the Applicable Agent to facilitate compliance with this Section. If the provisions of this Section are implemented, Section ‎Section 7(b) shall not thereafter apply to any Pledged Security that is registered in the name of the Applicable Agent or its nominee. The Applicable Agent will promptly give to the relevant Lien Grantor copies of any notices and other communications received by the Applicable Agent with respect to Pledged Securities registered in the name of the Applicable Agent or its nominee.

Transfer of Record Ownership. At any time when an Event of Default under Section 7(a) of the Credit Agreement shall have occurred and be continuing, the Applicable Administrative Agent may (and to the extent that action by it is required, the relevant Lien Grantor, if directed to do so by the Applicable Administrative Agent, will as promptly as practicable) cause each of the Pledged Securities (or any portion thereof specified in such direction) to be transferred of record into the name of the Applicable Administrative Agent or its nominee. Each Lien Grantor will take any and all actions reasonably requested by the Applicable Administrative Agent to facilitate compliance with this Section. If the provisions of this Section are implemented, Section 7(b8(b) shall not thereafter apply to any Pledged Security that is registered in the name of the Applicable Administrative Agent or its nominee. The Applicable Administrative Agent will promptly give to the relevant Lien Grantor copies of any notices and other communications received by the Applicable Administrative Agent with respect to Pledged Securities registered in the name of the Applicable Administrative Agent or its nominee.