Common use of Subsequent Changes Affecting Collateral Clause in Contracts

Subsequent Changes Affecting Collateral. The Pledgor represents to the Collateral Agent and the Holders that the Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and the Pledgor agrees that the Collateral Agent and the Holders shall have no responsibility or liability for informing the Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. The Pledgor covenants that it will not, without the prior written consent of the Collateral Agent and the Holders, vote to enable, or take any other action to permit, the Issuer to issue any Capital Stock or other Equity Interest or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for the security interests granted under this Agreement. The Pledgor will defend the right, title and interest of the Collateral Agent and the Holders in and to the Pledged Collateral against the claims and demands of all Persons.

Appears in 2 contracts

Sources: Indenture (Willcox & Gibbs Inc /De), Pledge and Security Agreement (Willcox & Gibbs Inc /De)

Subsequent Changes Affecting Collateral. The Pledgor represents --------------------------------------- to the Collateral Agent and the Holders Lender that the Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral pledged by Pledgor (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and the Pledgor agrees that the Collateral Agent and the Holders Lender shall have no responsibility or liability for informing the Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. The Pledgor covenants that it will not, without the prior written consent of Lender, except as expressly provided for and pursuant to the Collateral Agent terms and conditions of Section 6.8(c) or (d) of the HoldersLoan Agreement, vote to enable, or take any other action to permit, the any Issuer to issue any Capital Stock or other Equity Interest capital stock or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral pledged by Pledgor or create or permit to exist any Lien upon or with respect to any of the Pledged CollateralCollateral pledged by Pledgor, except for the security interests granted under this Agreement. The Pledgor will defend the right, title and interest of the Collateral Agent and the Holders in and to the Pledged Collateral against the claims and demands of all Persons.

Appears in 2 contracts

Sources: Pledge Agreement (Pharmaceutical Resources Inc), Pledge Agreement (Pharmaceutical Resources Inc)

Subsequent Changes Affecting Collateral. The Pledgor --------------------------------------- represents to the Collateral Agent and the Holders of Senior Secured Discount Notes that the Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and the Pledgor agrees that the Collateral Agent and the Holders of Senior Secured Discount Notes shall have no responsibility or liability for informing the Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. The Pledgor covenants that it will not, without the prior written consent of the Collateral Agent and the HoldersAgent, vote to enable, or take any other action to permit, the Issuer to issue any Capital Stock capital stock or other Equity Interest securities or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for the security interests granted under this Agreement. The Pledgor will defend the right, title and interest of the Collateral Agent and the Holders of Senior Secured Discount Notes in and to the Pledged Collateral against the claims and demands of all Persons.

Appears in 1 contract

Sources: Pledge Agreement (MRS Fields Holding Co Inc)

Subsequent Changes Affecting Collateral. The Each Pledgor represents to the Collateral Agent and the Holders each Holder that the such Pledgor has made its own arrangements for keeping informed of changes or potential changes affecting the Pledged Collateral (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, payments of interest and/or principal, reorganization or other exchanges, tender offers and voting rights), and the such Pledgor agrees that the Collateral Agent and the Holders shall have no responsibility or liability for informing the such Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. The Each Pledgor covenants that it will not, without the prior written consent of the Collateral Agent and as directed in writing by the HoldersTrustee, vote to enable, or take any other action to permit, the Issuer to issue any Capital Stock capital stock or other Equity Interest securities or to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for the security interests granted under this Agreement. The Each Pledgor will defend the right, title and interest of the Collateral Agent and the Holders in and to the Pledged Collateral against the claims and demands of all Persons.

Appears in 1 contract

Sources: Pledge Agreement (Shop Vac Corp)