Common use of Voting, Distributions and Receivables Clause in Contracts

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 6 contracts

Samples: Security Agreement (Synbio International, Inc.), Security Agreement (Deep Green Waste & Recycling, Inc.), Security Agreement (Deep Green Waste & Recycling, Inc.)

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Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor Grantors may, to the extent the Grantor has Grantors have such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could vote would be inconsistent with or result in any violation of any provision of the Purchase Agreement Loan Documents or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor Grantors may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor Grantors shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 2 contracts

Samples: Membership Interest Purchase Agreement (Boxlight Corp), Membership Interest Purchase Agreement (Boxlight Corp)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock equity interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Credit Agreement or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock equity interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 2 contracts

Samples: Security Agreement (TCW Direct Lending LLC), Revolving Credit Agreement (TCW Direct Lending LLC)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock equity interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s 's reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Loan Agreement, this Agreement or this Agreementany Loan Documents, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock equity interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Nl Industries Inc), Pledge and Security Agreement (Nl Industries Inc)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock equity interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could would detract from the value thereof as Collateral or which could would be inconsistent with or result in any violation of any provision of the Purchase Agreement Loan Agreements or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock equity interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Windtree Therapeutics Inc /De/)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s 's reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Capital Stock or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the The Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Riot Blockchain, Inc.)

Voting, Distributions and Receivables. (a) The Secured Party Collateral Agent agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could would detract from the value thereof as Collateral or which could would be inconsistent with or result in any violation of any provision of the Purchase Agreement Loan Agreements or this Security Agreement, and from time to time, upon request from the Grantor, the Secured Party Collateral Agent shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers, if applicable. (b) The Secured Party Collateral Agent agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests, or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party Collateral Agent may, or at the request and option of the Secured Party Collateral Agent the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party Collateral Agent in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Collateral Agent for the ratable benefit of the Secured PartyParties.

Appears in 1 contract

Samples: Security Agreement (Body & Mind Inc.)

Voting, Distributions and Receivables. (a) The Secured Party Lead Purchaser agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured PartyLead Purchaser’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement Senior Notes or this Agreement, and from time to time, upon request from the Grantor, the Secured Party Lead Purchaser shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party Lead Purchaser agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party Lead Purchaser may, or at the request and option of the Secured Party Lead Purchaser the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party Parties in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured PartyLead Purchaser.

Appears in 1 contract

Samples: Security Agreement (Coupon Express, Inc.)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s 's reasonable judgment, any such vote, consent, ratification or waiver could would detract from the value thereof as Collateral or which could would be inconsistent with or result in any violation of any provision of the Purchase Agreement Notes or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Paramount Gold Nevada Corp.)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have has occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could materially detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Loan Agreement or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have has occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Athena Bitcoin Global)

Voting, Distributions and Receivables. (a) The Secured Party Lead Purchaser agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s Lead Purchaser's reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement Senior Notes or this Agreement, and from time to time, upon request from the Grantor, the Secured Party Lead Purchaser shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party Lead Purchaser agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party Lead Purchaser may, or at the request and option of the Secured Party Lead Purchaser the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party Parties in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured PartyLead Purchaser.

Appears in 1 contract

Samples: Security Agreement (Psi Corp)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock securities or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement Factoring Agreements or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock securities or indebtedness owed by any obligor, but excluding any Accounts sold by Grantor to the Secured Party pursuant to any Factoring Agreements unless authorized by the Secured Party. (c) If any Event of Default shall have occurred and be continuing, the The Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of Accounts sold by the security interest of Grantor to the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and pursuant to the Factoring Agreements that payment thereof is payments due are to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement

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Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor Debtors may, to the extent the Grantor Debtors has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could vote would be inconsistent with or result in any violation of any provision of the Purchase Agreement Transaction Documents or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor Debtors may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor Debtors shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Protea Biosciences Group, Inc.)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s 's reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement Senior Note or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party its request, the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Dataram Corp)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Triggering Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock equity interests or indebtedness owed by any obligor, vote and give consents, ratifications ratifications, and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification ratification, or waiver could would detract from the value thereof as Collateral or which could would be inconsistent with or result in any violation of any provision of the Purchase Guaranty Agreement or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an a Triggering Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock equity interests, or indebtedness owed by any obligor. (c) If any Triggering Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument instrument, or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Cardiff Lexington Corp)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement Agreement, the Note or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Second Lien Security Agreement (Reed's, Inc.)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Capital Stock or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the The Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Predictive Oncology Inc.)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securitiesSecurities, other capital stock Equity Interests or indebtedness Indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Royalty Interest Purchase Agreement or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securitiesSecurities, other capital stock Equity Interests or indebtedness Indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the The Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any accountAccount, chattel paperChattel Paper, general intangibleGeneral Intangible, instrument Instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Curis Inc)

Voting, Distributions and Receivables. (a) The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Grantor may, to the extent the Grantor has such right as a holder of the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the Purchase Agreement Note or this Agreement, and from time to time, upon request from the Grantor, the Secured Party shall deliver to the Grantor suitable proxies so that the Grantor may cast such votes, consents, ratifications and waivers. (b) The Secured Party agrees that the Grantor may, unless an Event of Default shall have occurred and be continuing, entitled to receive and retain all cash dividends and other distributions with respect to the Collateral consisting of securities, other capital stock Equity Interests or indebtedness owed by any obligor. (c) If any Event of Default shall have occurred and be continuing, the The Secured Party may, or at the request and option of the Secured Party the Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (SHARING SERVICES GLOBAL Corp)

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