Majority in Interest. The rights of the Subscribers hereunder, except as otherwise set forth herein shall be exercised upon the approval of Subscribers holding 75% of the outstanding Obligations (“Majority in Interest”) at the time such approval is sought or given. Any tangible or physical Collateral shall be delivered to and be held by the Collateral Agent pursuant to this Agreement and on behalf of all Subscribers as to their respective rights.
Appears in 3 contracts
Samples: Security Agreement (China Yongxin Pharmaceuticals Inc.), Security Agreement (China Yongxin Pharmaceuticals Inc.), Security Agreement (China Yongxin Pharmaceuticals Inc.)
Majority in Interest. The rights of the Subscribers hereunder, except as otherwise set forth herein shall be exercised upon the approval of Subscribers holding 7551% of the outstanding Obligations (“Majority in Interest”) at the time such approval is sought or given. Any tangible or physical Collateral shall be delivered to and be held by the Collateral Agent pursuant to this Agreement and on behalf of all Subscribers as to their respective rights.
Appears in 2 contracts
Samples: Security Agreement (Ideal Power Inc.), Security Agreement (Ideal Power Inc.)
Majority in Interest. The rights of the Subscribers hereunder, except as otherwise set forth herein shall be exercised upon the approval of Subscribers (including the holders of the senior secured convertible promissory notes evidencing the Senior Debt) holding 75no less than 51% of the outstanding Obligations principal amount of the Loans (“Majority in Interest”) at the time such approval is sought or given. Any tangible or physical Collateral shall be delivered to and be held by the Collateral Agent pursuant to this Agreement and on behalf of all Subscribers as to their respective rights.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Ideal Power Inc.), Security Agreement (Ideal Power Inc.)
Majority in Interest. The rights of the Subscribers hereunder, except as otherwise set forth herein shall be exercised upon the approval of Subscribers (including the Subscribers of the Initial Senior Debt dated August 31, 2012) holding 75no less than 51% of the outstanding Obligations (“Majority in Interest”) at the time such approval is sought or given. Any tangible or physical Collateral shall be delivered to and be held by the Collateral Agent pursuant to this Agreement and on behalf of all Subscribers as to their respective rights.
Appears in 1 contract
