Common use of Investment Property and Instruments Clause in Contracts

Investment Property and Instruments. Upon and after the occurrence of any Event of Default, the Lenders 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 the Borrower shall be held in trust for the Lenders and, in accordance with the Lenders’ instructions, remitted to the Lenders in the form received (with any necessary endorsements or instruments of assignment or transfer). Following the occurrence of an Event of Default which has not been waived in writing, 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 Borrower Collateral hereunder. Additionally, the Lenders shall have the right, upon the occurrence of an Event of Default which has not been waived in writing, following prior written notice to the Borrower, to vote and to give consents, ratifications and waivers with respect to any investment property and instruments of the Borrower, and to exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining thereto, as if the Lenders were the absolute owner thereof; provided that the Lenders shall have no duty to exercise any of the foregoing rights afforded to it and shall not be responsible to the Borrower or any other Person for any failure to do so or delay in doing so.

Investment Property and Instruments. Upon At the request of the Lender, upon and after the occurrence and during the continuance of any Event of Default, the Lenders Lender 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 the Borrower shall be held in trust for the Lenders Lender to the extent permitted by applicable law and, in accordance with the Lenders’ Lender's instructions, remitted to the Lenders Lender or deposited to an account with the Lender in the form received (with any necessary endorsements or instruments of assignment or transfer). Following the occurrence and during the continuance of an Event of Default which has not been waived in writing, 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 Borrower Collateral hereunder. Additionally, the Lenders Lender shall have the right, upon the occurrence and during the continuance of an Event of Default which has not been waived in writingDefault, following prior written notice to the Borrower, to vote and to give consents, ratifications and waivers with respect to any investment property Investment Property and instruments of the BorrowerInstruments, and to exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining thereto, thereto to the extent permitted by applicable law as if the Lenders were Lender was the absolute owner thereof; provided PROVIDED that the Lenders Lender shall have no duty to exercise any of the foregoing rights afforded to it them and shall not be responsible to the Borrower or any other Person for any failure to do so or delay in doing soso to the extent permitted by applicable law.