Excluded Equity Interest definition
Examples of Excluded Equity Interest in a sentence
Except with respect to any Excluded Equity Interest and Excluded Instrument, if any Credit Party shall at any time hold or acquire any Certificated Security constituting Pledged Collateral or Article 9 Collateral, such Credit Party shall promptly endorse, assign and deliver the same to the Collateral Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Collateral Agent may from time to time reasonably specify and in accordance with Section 2.02 hereof.
Notwithstanding anything herein to the contrary, to the extent and for so long as any asset is an Excluded Equity Interest, the Security Interest granted under this Section 4.01 shall not attach to, and the Article 9 Collateral shall not include, such asset; provided, however that the Security Interest shall immediately attach to, and the Article 9 Collateral shall immediately include, any such asset (or portion thereof) upon such asset (or such portion) ceasing to be an Excluded Equity Interest.
For the avoidance of doubt, if any certificate or instrument representing any Pledged Collateral also represents any Excluded Equity Interest, the Lien created hereunder shall only attach to the Equity Interests evidenced thereby other than the Excluded Equity Interests.
Additional Securities means any shares of the Companies issued to, transferred to or otherwise acquired by the Grantor, after the date hereof (including, without limitation, the Related Rights) other than any Excluded Equity Interest (as defined in the Pledge and Security Agreement).