Common use of Uncertificated Securities and Certain Other Investment Property Clause in Contracts

Uncertificated Securities and Certain Other Investment Property. Each Grantor will permit the Administrative Agent from time to time, after the occurrence and during the continuance of a Default, to cause the appropriate issuers (and, if held with a securities intermediary, such securities intermediary) of uncertificated securities or other types of Investment Property not represented by certificates which are Collateral owned by such Grantor to xxxx their books and records with the numbers and face amounts of all such uncertificated securities or other types of Investment Property not represented by certificates and all rollovers and replacements therefor to reflect the Lien of the Administrative Agent granted pursuant to this Security Agreement. Each Grantor will use all commercially reasonable efforts, upon the request of the Administrative Agent upon the occurrence and during the continuance of a Default, with respect to Investment Property constituting Collateral owned by such Grantor held with a financial intermediary, to cause such financial intermediary to enter into a control agreement with the Administrative Agent in form and substance satisfactory to the Administrative Agent.

Appears in 3 contracts

Samples: Pledge and Security Agreement (Meritor Inc), Pledge and Security Agreement (Meritor Inc), Pledge and Security Agreement (Meritor Inc)

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Uncertificated Securities and Certain Other Investment Property. Each Grantor will permit the Administrative Agent from time to time, after the occurrence and during the continuance of a Default, time to cause the appropriate issuers (and, if held with a securities intermediary, such securities intermediary) of uncertificated securities or other types of Investment Property not represented by certificates which are Collateral owned by such Grantor to xxxx their books and records with the numbers and face amounts of all such uncertificated securities or other types of Investment Property not represented by certificates and all rollovers and replacements therefor to reflect the Lien of the Administrative Agent granted pursuant to this Security Agreement. Each Grantor will use all commercially reasonable effortswill, upon the request of the Administrative Agent upon Agent, subject to Section 4.01(j)(iii) of the occurrence and during the continuance of a DefaultCredit Agreement, use all commercially reasonable efforts, with respect to Investment Property constituting Collateral owned by such Grantor with a value individually or in the aggregate in excess of $1,000,000 held with a financial intermediary, to cause such financial intermediary to enter into a control agreement with the Administrative Agent in form and substance reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Tennant Co)

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Uncertificated Securities and Certain Other Investment Property. Each Grantor will permit the Administrative Agent from time to time, after the occurrence and during the continuance of a Default, to cause the appropriate issuers (and, if held with a securities intermediary, such securities intermediary) of uncertificated securities or other types of Investment Property not represented by certificates which are Collateral owned by such Grantor to xxxx their books and records with the numbers and face amounts of all such uncertificated securities or other types of Investment Property not represented by certificates and all rollovers and replacements therefor to reflect the Lien of the Administrative Agent granted pursuant to this Security Agreement. Each Grantor will use all commercially reasonable effortsGrantor, upon the request of the Administrative Agent upon after the occurrence and during the continuance of a Default, will use all commercially reasonable efforts, with respect to Investment Property constituting Collateral owned by such Grantor held with a financial intermediary, to cause such financial intermediary to enter into a control agreement with the Administrative Agent in form and substance reasonably satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: Pledge and Security Agreement (Myr Group Inc.)

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