Voting Rights and Transfer. Prior to the occurrence of an Event of Default, the Grantors will have the right to exercise all voting rights with respect to the Investment Property Collateral. At any time after the occurrence and during the continuation of an Event of Default, the Collateral Agent may transfer any or all of the Investment Property Collateral into its name or that of its nominee and may exercise all voting rights with respect to the Investment Property Collateral, but no such transfer shall constitute a taking of such Investment Property Collateral in satisfaction of any or all of the applicable Obligations unless the Collateral Agent expressly so indicates by written notice to the Grantors.
Appears in 6 contracts
Samples: Pledge and Security Agreement (Lianluo Smart LTD), Pledge and Security Agreement (Lianluo Smart LTD), Pledge Agreement (Lianluo Smart LTD)
Voting Rights and Transfer. Prior to the occurrence of an Event of Default, the Grantors will have the right to exercise all voting rights with respect to the Investment Property Collateral. At any time after the occurrence and during the continuation of an Event of Default, the Collateral Agent may transfer any or all of the Investment Property Collateral into its name or that of its nominee and may exercise all voting rights with respect to the Investment Property Collateral, but no such transfer shall constitute a taking of such Investment Property Collateral in satisfaction of any or all of the applicable Obligations unless the Collateral Agent expressly so indicates by written notice to the Grantors.
Appears in 2 contracts
Samples: Pledge Agreement (Newegg Commerce, Inc.), Pledge and Security Agreement (Newegg Commerce, Inc.)
