Common use of Additional Pledged Collateral Clause in Contracts

Additional Pledged Collateral. Without notice or consent of the Pledgors and without impairment of the security interests and rights created by this Subsidiary Pledge Agreement, the Collateral Agent may accept from any Person or Persons additional collateral or other security for the Obligations of the Company or the Pledgors' under the Indenture or the Notes. Neither the creation of the security interests created hereunder nor the acceptance of any such additional collateral or security shall prevent the Collateral Agent from resorting to such additional collateral or security or to the Pledged Collateral, in any order, without affecting the Collateral Agent's rights hereunder.

Appears in 2 contracts

Samples: Subsidiary Pledge Agreement (Discovery Zone Inc), Subsidiary Pledge Agreement (Discovery Zone Inc)

AutoNDA by SimpleDocs

Additional Pledged Collateral. Without notice or consent of the Pledgors Pledgor and without impairment of the security interests and rights created by this Subsidiary Pledge Agreement, the Collateral Agent may accept from any Person or Persons additional collateral or other security for the Obligations of the Company any Pledged Subsidiary or the Pledgors' Pledgor's Obligations under the Indenture or the NotesIndenture. Neither the creation of the security interests created hereunder nor the acceptance of any such additional collateral or security shall prevent the Collateral Agent from resorting to such additional collateral or security or to the Pledged Collateral, in any order, without affecting the Collateral Agent's rights hereunder.

Appears in 2 contracts

Samples: Pledge Agreement (Discovery Zone Inc), Pledge Agreement (Discovery Zone Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.