Common use of Investment Property and Instruments Clause in Contracts

Investment Property and Instruments. At the request of the Agent, upon and after the occurrence of any Default, the Agent shall be entitled to receive all distributions and payments of any nature with respect to any Investment Property or Instruments, and all such distributions or payments received by any Grantor shall be held in trust for the Agent and, in accordance with the Agent's instructions, remitted to the Agent or deposited to an account with the Agent in the form received (with any necessary endorsements or instruments of assignment or transfer). Following the occurrence of a Default any such distributions and payments with respect to any Investment Property held in any securities account shall be held and retained in such securities account, in each case as part of the Collateral hereunder. Additionally, the Agent shall have the right, upon the occurrence of a Default, to vote and to give consents, ratifications and waivers with respect to any Investment Property and Instruments, and to exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining thereto, as if the Agent were the absolute owner thereof; provided that the Agent shall have no duty to exercise any of the foregoing rights afforded to it and shall not be responsible to the Grantors or any other Person for any failure to do so or delay in doing so.

Investment Property and Instruments. At the request of the Agent, upon Upon and after the occurrence and during the continuance of any Event of Default, the Agent Agent, for the benefit of itself and the other Secured Parties, shall be entitled to receive all distributions and payments of any nature with respect to any Investment Property investment property or Instrumentsinstruments, and all such distributions or payments received by any Grantor the Debtor shall be and shall be deemed to be held separate and apart and in trust exclusively for the Agent Agent, for the benefit of itself and the other Secured Parties, and, in accordance with the Agent's ’s instructions, remitted to the Agent or deposited to an account with Agent, for the Agent benefit of itself and the other Secured Parties, in the form received (with any necessary endorsements or instruments of assignment or transfer). Following the occurrence and during the continuance of a any Event of Default any such distributions and payments with respect to any Investment Property investment property held in any securities account shall be held and retained in such securities account, in each case as part of the Collateral hereunder. Additionally, the Agent shall have the right, upon the occurrence and during the continuance of a any Event of Default, following two (2) Business Days’ prior written notice to the Debtor, to vote and to give consents, ratifications and waivers with respect to any Investment Property investment property and Instrumentsinstruments of the Debtor, and to exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining thereto, as if the Agent and the other Secured Parties were the absolute owner thereof; provided that the Agent and the other Secured Parties shall have no duty to exercise any of the foregoing rights afforded to it and shall not be responsible to the Grantors Debtor or any other Person for any failure to do so or delay in doing so.