Use and Possession of Certain Premises. Upon the occurrence of a Default (but subject to any provisions of the Indenture, this Security Agreement or any other Collateral Documents, including any intercreditor agreement or other agreement describing the rights of the Trustee relative to other creditors of the Grantor), the Trustee shall be entitled to occupy and use any premises owned or leased by the Grantor where any of the Pledged Collateral or any records relating to the Pledged Collateral are located until the Secured Obligations are paid or the Pledged Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor for such use and occupancy.
Appears in 7 contracts
Samples: Pledge and Security Agreement (Red Oak Capital Fund Series, LLC), Pledge and Security Agreement (MCI Income Fund VII, LLC), Pledge and Security Agreement (Red Oak Capital Intermediate Income Fund, LLC)
Use and Possession of Certain Premises. Upon the occurrence of a Default (but subject to any provisions of the Indenture, this Security Agreement or any other Collateral Documents, including any intercreditor agreement or other agreement describing the rights of the Trustee relative to other creditors of some or all of the GrantorGrantors), the Trustee shall be entitled to occupy and use any premises owned or leased by the Grantor Grantors where any of the Pledged Collateral or any records relating to the Pledged Collateral are located until the Secured Obligations are paid or the Pledged Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor for such use and occupancy.
Appears in 6 contracts
Samples: Pledge and Security Agreement, Pledge and Security Agreement (GWG Holdings, Inc.), Pledge and Security Agreement (GWG Life, LLC)