Release Upon an Event of Default. At any time after a Holder delivers the Agent a written notice that an Event of Default has occurred, any Holder may, at its option, deliver written instructions to the Agent (a “Default Notice”) to release to such Holder such Holder’s pro rata portion of the Pledged Shares (as determined by Section 3(vi) below).
Appears in 2 contracts
Sources: Securities Purchase Agreement (Accentia Biopharmaceuticals Inc), Pledge Agreement (Accentia Biopharmaceuticals Inc)