Grantors definition
Examples of Grantors in a sentence
The Lender may, in its sole and absolute discretion, enforce the provisions hereof against any of the Grantors and shall not be required to proceed against all Grantors jointly or seek payment from the Grantors ratably.
Except as set forth on Schedule X, as of the date hereof, none of the Pledged Shares pledged by the Grantors hereunder constitute a “security” under Section 8-103 of the Code or the corresponding code or statute of any other applicable jurisdiction.
As further assurance of the proxy granted hereby, each Grantor shall from time to time execute and deliver to the Lender, all such additional written proxies and other instruments as the Lender shall reasonably request for the purpose of enabling the Lender to exercise the voting and other rights which it is entitled to exercise hereunder provided that the Grantors agree that no such additional action shall be required for the Lender to exercise its proxy rights hereunder.
In addition, the Lender may, in its sole and absolute discretion, select the Collateral of any one or more of the Grantors for sale or application to the Secured Obligations, without regard to the ownership of such Collateral, and shall not be required to make such selection ratably from the Collateral owned by all of the Grantors.
All other promissory notes, certificates and Instruments constituting Pledged Interests from time to time required to be pledged to the Lender pursuant to the terms of this Agreement or the Note (the “Additional Collateral”) shall be delivered to the Lender promptly upon, but in any event within seven (7) Business Days (or such longer period as the Lender may consent to in their sole discretion) of, receipt thereof by or on behalf of any of the Grantors.