Common use of Investment Property and Instruments Clause in Contracts

Investment Property and Instruments. At the written request of the Secured Party, upon and after the occurrence and during the continuance of any Event of Acceleration, the Secured Party or its designee are entitled to receive all distributions and payments of any nature with respect to any Investment Property or Instruments, and all such distributions or payments received by the Company shall be held in trust for the Secured Party or its designee to the extent permitted by applicable law and, in accordance with the Secured Party’s instructions, remitted to the Secured Party or its designee or deposited to an account with the Secured Party or its designee in the form received (with any necessary endorsements or instruments of assignment or transfer). Following the occurrence and during the continuance of an Event of Acceleration, at the written request of the Secured Party, any such distributions and payments with respect to any Investment Property held in any Securities Account shall be held and retained in such Securities Account, in each case as part of the Collateral. Additionally, the Secured Party has the right, upon the occurrence and during the continuance of an Event of Acceleration, following prior written notice to the Company, to vote and to give consents, ratifications and waivers with respect to any Investment Property and Instruments, and to exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining thereto to the extent permitted by applicable law as if the Secured Party were the absolute owner thereof; provided, that the Secured Party has no duty to exercise any of the foregoing rights afforded to it and is not responsible to the Company or any other Person for any failure to do so or delay in doing so to the extent permitted by applicable law.

Investment Property and Instruments. At the written request of the Secured PartyCollateral Agent, upon and after the occurrence and during the continuance of any Event of Acceleration, the Secured Party Collateral Agent or its designee are entitled to receive all distributions and payments of any nature with respect to any Investment Property or Instruments, and all such distributions or payments received by the Company shall be held in trust for the Secured Party Collateral Agent or its designee to the extent permitted by applicable law and, in accordance with the Secured PartyCollateral Agent’s instructions, remitted to the Secured Party Collateral Agent or its designee or deposited to an account with the Secured Party Collateral Agent or its designee in the form received (with any necessary endorsements or instruments of assignment or transfer). Following the occurrence and during the continuance of an Event of Acceleration, at the written request of the Secured PartyCollateral Agent, any such distributions and payments with respect to any Investment Property held in any Securities Account shall be held and retained in such Securities Account, in each case as part of the Collateral. Additionally, the Secured Party Collateral Agent, as agent for and representative of the Holders, has the right, upon the occurrence and during the continuance of an Event of Acceleration, following prior written notice to the Company, to vote and to give consents, ratifications and waivers with respect to any Investment Property and Instruments, and to exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining thereto to the extent permitted by applicable law as if the Secured Party Collateral Agent were the absolute owner thereof; provided, provided that the Secured Party Collateral Agent has no duty to exercise any of the foregoing rights afforded to it and is not responsible to the Company or any other Person for any failure to do so or delay in doing so to the extent permitted by applicable law.

Investment Property and Instruments. At the written request of the Secured PartyHolder, upon and after the occurrence and during the continuance of any Event of AccelerationDefault, the Secured Party Holder or its designee are shall be entitled to receive all distributions and payments of any nature with respect to any Investment Property or Instruments, and all such distributions or payments received by the Company shall be held in trust for the Secured Party Holder or its designee to the extent permitted by applicable law and, in accordance with the Secured PartyHolder’s instructions, remitted to the Secured Party Holder or its designee or deposited to an account with the Secured Party Holder or its designee in the form received (with any necessary endorsements or instruments of assignment or transfer). Following the occurrence and during the continuance of an Event of AccelerationDefault, at the written request of the Secured PartyHolder, any such distributions and payments with respect to any Investment Property held in any Securities Account securities account shall be held and retained in such Securities Accountsecurities account, in each case as part of the CollateralCollateral hereunder. Additionally, the Secured Party has Holder shall have the right, upon the occurrence and during the continuance of an Event of AccelerationDefault, following prior written notice to the Company, to vote and to give consents, ratifications and waivers with respect to any Investment Property and Instruments, and to exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining thereto to the extent permitted by applicable law as if the Secured Party were Holder was the absolute owner thereof; providedPROVIDED, that the Secured Party has Holder shall have no duty to exercise any of the foregoing rights afforded to it and is shall not be responsible to the Company or any other Person for any failure to do so or delay in doing so to the extent permitted by applicable law.