UPON THE OCCURRENCE OF AND DURING THE CONTINUANCE OF AN EVENT OF DEFAULT. EACH LOAN PARTY HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS AGENT AS ITS PROXY AND ATTORNEY-IN-FACT WITH RESPECT TO THE PLEDGED EQUITY, INCLUDING THE RIGHT TO VOTE SUCH PLEDGED EQUITY, WITH FULL POWER OF SUBSTITUTION TO DO SO. If no Event of Default has occurred and is continuing hereunder, Loan Party shall retain the right, where applicable, to vote and give consents with respect to the Pledged Equity for all purposes not inconsistent with the provisions of this Agreement and the Other Documents, and Agent shall, if necessary, execute due and timely proxies in favor of Loan Party for this purpose.
Appears in 8 contracts
Samples: Loan and Security Agreement (PHI Group, Inc./De), Security Agreement (PHI Group, Inc./De), Loan and Security Agreement (PHI Group, Inc./De)
