Event of Default; Rights; Interests; Etc. (a) Provided an Expiration Event has not occurred, an “Event of Default” shall be deemed to have occurred under this Agreement upon an Event of Default under and as defined in the Convertible Debentures. (b) So long as no Event of Default shall have occurred and be continuing; (i) the Company shall be entitled to exercise any and all rights pertaining to the Pledged Property or any part thereof for any purpose not inconsistent with the terms hereof; and (ii) the Company shall be entitled to receive and retain any and all payments paid or made in respect to the Pledged Property.
Appears in 2 contracts
Sources: Security Agreement (Advanced Viral Research Corp), Security Agreement (Advanced Viral Research Corp)