Common use of Registration in Secured Party's Name Clause in Contracts

Registration in Secured Party's Name. If the Collateral at any time includes Negotiable Collateral, upon the occurrence and during the continuance of an Event of Default, the Debtor authorizes the Secured Party to transfer the same or any part thereof into its own name or that of its nominee so that the Secured Party or its nominee may appear as the sole owner of record thereof.

Registration in Secured Party's Name. If the Collateral at any time includes Negotiable CollateralSecurities, upon the occurrence and during the continuance of an Event of Default, the Debtor authorizes the Secured Party to transfer the same or any part thereof into its own name or that of its nominee so that the Secured Party or its nominee may appear as the sole owner of record thereof.