Common use of Maintenance of Records; Inspection Clause in Contracts

Maintenance of Records; Inspection. (i) The Pledgor will maintain, at his sole expense, complete, correct and (in the judgment of the Collateral Agent) reasonably detailed records of all of the Collateral, including, without limitation, records of all dividends, interest payments, distributions and other amounts received in respect of, and other transactions involving, the Collateral. The Pledgor will mark all of his books and records relating to the Collateral in such a manner as to properly evidence this Agreement and the pledge, assignment and security interest created hereunder. For the further security of the Collateral Agent and the other Secured Parties, the Pledgor hereby agrees that the Collateral Agent, on behalf of itself and the other Secured Parties, shall have a special property interest in all of the books and records of the Pledgor relating to the Collateral, and the Pledgor will deliver and turn over any or all of such books and records to the Collateral Agent at any time following the occurrence and during the continuance of an Event of Default, upon the request of the Collateral Agent therefor.

Appears in 3 contracts

Samples: Shareholder Pledge Agreement (Econophone Inc), Shareholder Pledge Agreement (Econophone Inc), Shareholder Pledge Agreement (Econophone Inc)

AutoNDA by SimpleDocs

Maintenance of Records; Inspection. (i) The Pledgor will maintain, at his sole expense, complete, correct and (in the judgment of the Collateral Agent) reasonably detailed records of all of the Collateral, including, without limitation, records of all dividends, interest payments, distributions and other amounts received in respect of, and other transactions involving, the Collateral. The Pledgor will mark xxxx all of his books and records relating to the Collateral in such a manner as to properly evidence this Agreement and the pledge, assignment and security interest created hereunder. For the further security of the Collateral Agent and the other Secured Parties, the Pledgor hereby agrees that the Collateral Agent, on behalf of itself and the other Secured Parties, shall have a special property interest in all of the books and records of the Pledgor relating to the Collateral, and the Pledgor will deliver and turn over any or all of such books and records to the Collateral Agent at any time following the occurrence and during the continuance of an Event of Default, upon the request of the Collateral Agent therefor.

Appears in 1 contract

Samples: Note Purchase Agreement (Econophone Inc)

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