Proceeds and Products of the Collateral. a. Notwithstanding any of the foregoing, unless and until there occurs an Event of Default, Pledgee agrees to forbear from exercising its right to receive all benefits pertaining to the Collateral (except as otherwise permitted under the Operating Agreement), and Pledgor shall be permitted to exercise all rights and to receive all benefits of the Collateral, including, without limitation, the right to exercise all voting, approval, consent and similar rights of Pledgor pertaining to the Collateral, payments due under, proceeds, whether cash proceeds or noncash proceeds, and products of the Collateral and to retain and enjoy the same.
Appears in 6 contracts
Samples: Pledge and Security Agreement (Equity Residential Properties Trust), Pledge and Security Agreement (Wellsford Residential Property Trust), Pledge and Security Agreement (Wellsford Real Properties Inc)
Proceeds and Products of the Collateral. a. Notwithstanding any of the foregoing, unless and until there occurs an Event of Default, Pledgee agrees to forbear from exercising its his right to receive all benefits pertaining to the Collateral (except as otherwise permitted under the Operating Agreement), and Pledgor shall be permitted to exercise all rights and to receive all benefits of the Collateral, including, without limitation, the right to exercise all voting, approval, consent and similar rights of Pledgor pertaining to the Collateral, payments due under, proceeds, whether cash proceeds or noncash proceeds, and products of the Collateral and to retain and enjoy the same.
Appears in 5 contracts
Samples: Pledge and Security Agreement (Wellsford Real Properties Inc), Pledge and Security Agreement (Wellsford Residential Property Trust), Pledge and Security Agreement (Equity Residential Properties Trust)
