Common use of Rights of Grantor Clause in Contracts

Rights of Grantor. So long as no Event of Default shall have occurred and be continuing, the Grantor shall have the right to (i) receive all dividends, interest and other payments and distributions made upon or with respect to the Pledged Collateral, (ii) receive all proceeds of any sale of the Pledged Collateral in accordance with Section 5.14 of the Restructuring Agreement and (iii) vote and give consents, ratifications and waivers, with respect to the Pledged Collateral. The Grantor waives any right it may have to require the Collateral Agent or Investor to pursue any third person for any of the Obligations.

Rights of Grantor. So long as no Event of Default shall have occurred and be continuing, the each Grantor shall have the right to (i) receive all dividends, interest and other payments and distributions made upon or with respect to the Pledged Collateral, (ii) receive all proceeds of any sale of the Pledged Collateral in accordance with Section 5.14 of the Restructuring Agreement 5.08 and (iii) vote and give consents, ratifications and waivers, with respect to the Pledged Collateral. The Each Grantor waives any right it may have to require the Collateral Agent or Investor to pursue any third person for any of the Obligations.