Common use of Rights with respect to Collateral Clause in Contracts

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 30 contracts

Samples: Security Agreement (Mechanical Technology Inc), Security Agreement (Vaccinex, Inc.), Security Agreement (Vaccinex, Inc.)

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Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (ia) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (iib) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations Secured Obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B A shall inure to its their benefit as to any actions taken or omitted to be taken by it while it was they were Collateral Agent.

Appears in 8 contracts

Samples: Security and Pledge Agreement (Viking Energy Group, Inc.), Security and Pledge Agreement (Camber Energy, Inc.), Security and Pledge Agreement (Camber Energy, Inc.)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Administrative Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Administrative Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Administrative Agent hereunder by a successor Collateral Administrative Agent, such successor Collateral Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Administrative Agent and the retiring Collateral Administrative Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Administrative Agent’s resignation or removal hereunder as Collateral Administrative Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Administrative Agent.

Appears in 3 contracts

Samples: And Restated Security Agreement (Global Diversified Industries Inc), Security Agreement (Global Diversified Industries Inc), And Restated Security Agreement (Global Diversified Industries Inc)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement Agreement, the Notes and the any other Transaction Documentsrelated agreements. Upon the acceptance of any appointment as Collateral Agent collateral agent hereunder by a successor Collateral Agentcollateral agent, such successor Collateral Agent collateral agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent collateral agent and the retiring Collateral Agent collateral agent shall be discharged from its duties and obligations under the this Agreement. After any retiring Collateral Agentcollateral agent’s resignation or removal hereunder as Collateral Agentcollateral agent, the provisions of the this Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agentcollateral agent.

Appears in 3 contracts

Samples: Security Agreement (SONDORS Inc.), Security Agreement (Alldigital Holdings, Inc.), Security Agreement (Alldigital Holdings, Inc.)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement Agreement, the Debentures and the any other Transaction Documentsrelated agreements. Upon the acceptance of any appointment as Collateral Agent collateral agent hereunder by a successor Collateral Agentcollateral agent, such successor Collateral Agent collateral agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent collateral agent and the retiring Collateral Agent collateral agent shall be discharged from its duties and obligations under the this Agreement. After any retiring Collateral Agentcollateral agent’s resignation or removal hereunder as Collateral Agentcollateral agent, the provisions of the this Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agentcollateral agent.

Appears in 2 contracts

Samples: Security Agreement (US Dry Cleaning Services Corp), Security Agreement (US Dry Cleaning Services Corp)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B A shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 2 contracts

Samples: Security Agreement (True Drinks Holdings, Inc.), Security Agreement (Dataram Corp)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, independently exercise any rights with respect to its security interest Security Interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Corporation, MTIX, the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this AgreementAgreement by the Collateral Agent or any of the other Secured Parties) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the Security Interests and rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 2 contracts

Samples: Share Exchange Agreement (DPW Holdings, Inc.), Share Exchange Agreement (Avalanche International, Corp.)

Rights with respect to Collateral. Each Secured Party Investor agrees with all other Secured Parties Investors and the Collateral Agent (i) that it such Investor shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreementthe Applicable Transaction Documents), or take or institute any action against the Collateral Agent or any of the other Secured Parties Investors in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreementthe Applicable Transaction Documents) and (ii) that such Secured Party Investor has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Applicable Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent Agent, and the retiring Collateral Agent shall be discharged from its duties and obligations under the AgreementApplicable Transaction Documents. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement Applicable Transaction Documents including this Annex B Exhibit I shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: Securities Purchase Agreement (Olympus Pacific Minerals Inc)

Rights with respect to Collateral. Each Secured Party Lender agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest Security Interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) ), and (ii) that such Secured Party has Lenders have no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B Exhibit C shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Attis Industries Inc.)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (ia) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (iib) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.. ANNEX B to SECURITY AND PLEDGE AGREEMENT

Appears in 1 contract

Samples: Intercreditor and Subordination Agreement (Co-Diagnostics, Inc.)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (ia) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (iib) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations Secured Obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B A shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: Security and Pledge Agreement (Nac Global Technologies, Inc.)

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Rights with respect to Collateral. Each Secured Party Purchaser agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party Purchaser has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: General Security Agreement (2304101 Ontario Inc.)

Rights with respect to Collateral. Each Secured Party Vendor agrees with all other Secured Parties Vendors and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement or the Security Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties Vendors in respect of the Collateral or its rights hereunder or under the Security Agreement (other than any such action arising from the breach by such person of this Agreement) and (ii) that such Secured Party Vendor has no other secured rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documentsor Security Agreement. Upon the acceptance of any appointment as Collateral Agent collateral agent hereunder by a successor Collateral Agentagent, such successor Collateral Agent agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent agent and the retiring Collateral Agent agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agentcollateral agent, the provisions of the Agreement including this Annex B Exhibit C shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: Debt Settlement Agreement (Precipio, Inc.)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, independently exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Authentidate Holding Corp)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Cxxxxxxxxx Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Harrison Vickers & Waterman Inc)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (ia) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (iib) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B A shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: Security and Pledge Agreement (Muscle Maker, Inc.)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, or the Notes unless the Agent has taken any action to foreclose on the Liens created under the Agreement and/or possess the Collateral (which possession shall not include the pledge and related deliveries under the Agreement) whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (PhoneBrasil International Inc)

Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent Lead Secured Party (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest Security Interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Collateral Agent Lead Secured Party or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Collateral Agent Lead Secured Party hereunder by a successor Collateral AgentLead Secured Party, such successor Collateral Agent Lead Secured Party shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent Lead Secured Party and the retiring Collateral Agent Lead Secured Party shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s Lead Secured Party's resignation or removal hereunder as Collateral AgentLead Secured Party, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral AgentLead Secured Party.

Appears in 1 contract

Samples: Pledge and Security Agreement (Global Aircraft Solutions, Inc.)

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