Common use of No Consent of Third Parties Required Clause in Contracts

No Consent of Third Parties Required. No consent of any person including any other general or limited partner, any other member of a limited liability company, any other shareholder or any other trust beneficiary is necessary or reasonably desirable (from the perspective of a secured party) in connection with the creation, perfection or First Priority status of the security interest of the applicable Collateral Agent in any Equity Interests pledged to such Collateral Agent for the benefit of the Secured Parties under the Security Agreements or the exercise by such Collateral Agent of the voting or other rights provided for in any such Security Agreement or the exercise of remedies in respect thereof, except to the extent that, with respect only to the transfer of any Equity Interests in a Nova Scotia unlimited company pledged to a Collateral Agent, the approval of the board of directors of the relevant Nova Scotia unlimited company or the pledgor of its Equity Interests therein may be required under any applicable corporate and securities laws.