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).
Appears in 2 contracts
Sources: Equity Pledge Agreement, Equity Pledge Agreement (Par Petroleum Corp/Co)
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(b3(c), the Pledgor Company 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 Company shall thereafter deliver the Pledged Collateral to or for the account of ▇▇▇▇ as provided in subsection 3(b3(c).
Appears in 2 contracts
Sources: Pledge and Security Agreement (Par Pacific Holdings, Inc.), Pledge and Security Agreement (Par Petroleum Corp/Co)