Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of Xxxx as provided in subsection 3(b), the Pledgor shall promptly take such other steps as may be necessary or as shall be reasonably requested from time to time by Xxxx to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to Xxxx pursuant to the UCC. To the extent practicable, the Pledgor shall thereafter deliver the Pledged Collateral to or for the account of Xxxx as provided in subsection 3(b).
Appears in 2 contracts
Samples: Equity Pledge Agreement, Equity Pledge Agreement (Par Petroleum Corp/Co)
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of Xxxx as provided in subsection 3(b3(c), the Pledgor Company shall promptly take such other steps as may be necessary or as shall be reasonably requested from time to time by Xxxx to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to Xxxx pursuant to the UCC. To the extent practicable, the Pledgor Company shall thereafter deliver the Pledged Collateral to or for the account of Xxxx as provided in subsection 3(b3(c).
Appears in 2 contracts
Samples: Pledge and Security Agreement (Par Pacific Holdings, Inc.), Pledge and Security Agreement (Par Petroleum Corp/Co)
