Substitution for Pledgor. If an Event of Default shall have occurred and be continuing, then, in addition to any other rights and remedies provided for herein or otherwise available to it, the Security Agent may exercise the powers of attorney set forth in Section 4.1 of this Agreement and manage (or designate another Person to manage) the operations, business and affairs of the Corporation.
Appears in 2 contracts
Sources: Stock Pledge Agreement (New England Electric System), Stock Pledge Agreement (New England Electric System)