Transfer of Security Interest Other Than by Delivery Sample Clauses
The 'Transfer of Security Interest Other Than by Delivery' clause defines how a security interest in collateral can be transferred from one party to another without the need for physical delivery of the collateral itself. Typically, this involves the assignment of rights or interests through written agreements or registration in official records, rather than handing over the actual asset. This clause is essential for facilitating the efficient transfer of security interests, especially for intangible assets or when physical delivery is impractical, thereby ensuring that parties can effectively manage and reassign their secured interests.
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of the Administrative Agent as provided in Section 5.6(b), each applicable Grantor shall promptly take such other steps as may be necessary or as shall be reasonably requested from time to time by the Administrative Agent to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to the Administrative Agent for itself and on behalf of and for the ratable benefit of the other Secured Parties pursuant to the UCC. To the extent practicable, each such Grantor shall thereafter deliver the Pledged Collateral to or for the account of the Administrative Agent as provided in Section 5.6(b).
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of the Administrative Agent as provided in Section 3(b), each applicable Grantor shall promptly take such other steps as may be necessary or as shall be reasonably requested from time to time by the Administrative Agent to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to the Administrative Agent for the ratable benefit of the Secured Parties pursuant to the NY UCC. Such Grantor shall deliver the Pledged Collateral to or for the account of the Administrative Agent as provided in Section 3(b) as soon as such Grantor becomes able to do so.
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of ▇▇▇▇ as provided in subsection 3(b), the Pledgor shall promptly take such other steps as may be necessary or as shall be reasonably requested from time to time by ▇▇▇▇ to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to ▇▇▇▇ pursuant to the UCC. To the extent practicable, the Pledgor shall thereafter deliver the Pledged Collateral to or for the account of ▇▇▇▇ as provided in subsection 3(b).
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of the Security Trustee as provided in Section 3(b), the relevant Grantor shall promptly take such other commercially reasonable steps as shall be requested from time to time by the Security Trustee to effect a transfer of a perfected security interest in and pledge of the Pledged Collateral to the Security Trustee, for itself and on behalf of and for the ratable benefit of the other Secured Parties, pursuant to the UCC. To the extent practicable, such Grantor shall thereafter deliver the Pledged Collateral to or for the account of the Security Trustee as provided in Section 3(b).
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of the Administrative Agent as provided in Section 5.6(b), each applicable Grantor shall promptly take such other steps as may be necessary or as shall be reasonably requested from time to time by the Administrative Agent to effect a transfer of a perfected first priority security interest (subject only to (i) Liens permitted by Section 7.3 of the Domestic Credit Agreement which have priority over the Liens of the Administrative Agent on the Collateral (for the ratable benefit of the Secured Parties) by operation of law, and (ii) other than with respect to Export-Related Accounts Receivable, Export-Related Inventory, Export-Related General Intangibles and the Proceeds of the foregoing, Liens in favor of the Administrative Agent under the Domestic Loan Documents) in and pledge of the Pledged Collateral to the Administrative Agent for itself and on behalf of and for the ratable benefit of the other Secured Parties pursuant to the UCC. To the extent practicable, each such Grantor shall thereafter deliver the Pledged Collateral to or for the account of the Administrative Agent as provided in Section 5.6(b).
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral of any Pledgor cannot be delivered to or for the account of the Administrative Agent as provided in subsections (b) and (d), such Pledgor shall promptly take such other steps as shall be requested from time to time by the Administrative Agent to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to the Administrative Agent, for itself and on behalf of and for the ratable benefit of the other Secured Parties, pursuant to the UCC. To the extent practicable, such Pledgor shall thereafter deliver the Pledged Collateral to or for the account of the Administrative Agent as provided in subsections (b) and (d).
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral that is otherwise required to be delivered to the Administrative Agent hereunder cannot be delivered to or for the account of the Administrative Agent as provided in Section 5.4(b), such Grantor shall promptly notify the Administrative Agent in writing that such Collateral cannot be delivered as provided in such section and each applicable Grantor shall promptly take such other steps as may be reasonably requested in writing from time to time by the Administrative Agent to effect a transfer of a
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of the Secured Party as provided in subsection 3(c), such Grantor shall promptly take such other steps as may be necessary or as shall be reasonably requested from time to time by the Secured Party to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to the Secured Party pursuant to the UCC. To the extent practicable, such Grantor shall thereafter deliver the Pledged Collateral to or for the account of the Secured Party as provided in subsection 3(c).
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the account of the Investors as provided in subsections (b) and (c), the Company shall promptly take such other steps as shall be requested from time to time by the Investors to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to the Investors pursuant to the UCC. To the extent practicable, the Company shall thereafter deliver the Pledged Collateral to or for the account of the Investors as provided in subsections (b) and (c).
Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral of any Pledgor cannot be delivered to or for the account of the Administrative Agent as provided in subsections (b) and (d), such Pledgor shall promptly take such other steps as shall be requested from time to time by the Administrative Agent to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to the Administrative Agent for itself and on behalf of and for the ratable benefit of the Other Agents, the L/C Issuer, the Swing Line Lender and the Lenders pursuant to the UCC (provided, however, subject to Section 5(d) hereof, no Pledgor shall be required to issue certificated Pledged Equity Interests in exchange for uncertificated Pledged Equity Interests as long as the Administrative Agent can perfect its security interest by the filing of a financing statement under the UCC). To the extent practicable, such Pledgor shall thereafter deliver the Pledged Collateral to or for the account of the Administrative Agent as provided in subsections (b) and (d) other than uncertificated Pledged Equity Interests.