Administration of Equity Interests and Instruments Clause Samples
The 'Administration of Equity Interests and Instruments' clause defines how a company manages and oversees its shares, stock options, and other equity-based securities. It typically outlines the procedures for issuing, transferring, and recording ownership of these interests, as well as the responsibilities of company officers or agents in maintaining accurate records. This clause ensures that the process for handling equity is clear and consistent, reducing the risk of disputes and administrative errors related to ownership and transfer of equity instruments.
Administration of Equity Interests and Instruments. 8.6.1. Certificated Security.
(a) Schedule 8.6.1 sets forth all Equity Interests owned by each Obligor to the extent included in the Collateral on the Restatement Effective Date.
(b) With respect to any such Equity Interest (other than Excluded Equity Interests) that constitutes Certificated Securities, each Obligor shall deliver to Agent any and all certificates evidencing such Certificated Securities duly endorsed by an effective endorsement (within the meaning of Section 8-107 of the UCC or other Applicable Law), or accompanied by share transfer powers or other instruments of transfer duly endorsed by such an effective endorsement, in each case, to Agent or in blank.
(c) With respect to any such Equity Interests (other than Excluded Equity Interests) that is uncertificated, each Obligor shall deliver to Agent any and all control agreements and other documents requested by Agent in order to have control over and to perfect Agent’s Lien on such Equity Interest.
(d) Each Obligor shall promptly notify Agent of any change to Schedule 8.6.1 and, with the consent of Agent which shall not be unreasonably withheld, will promptly amend or supplement Schedule 8.6.1 to reflect same, which consent shall not be required if the Schedule is being amended to reflect the consummation of a Permitted Acquisition.
Administration of Equity Interests and Instruments. Certificated Security.
Administration of Equity Interests and Instruments