Common use of Cash Dividends; Voting Rights Clause in Contracts

Cash Dividends; Voting Rights. Unless an Event of Default has occurred and the Administrative Agent has given notice to the Pledgors of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 hereof, the Pledgors shall be permitted to receive all cash dividends, to the extent permitted in the Credit Agreement, in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s reasonable judgment, would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, this Pledge Agreement or any other Credit Document.

Appears in 4 contracts

Samples: Pledge Agreement (Speedway Motorsports Inc), Pledge Agreement (Speedway Motorsports Inc), Pledge Agreement (Speedway Motorsports Inc)

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Cash Dividends; Voting Rights. Unless an Event of Default has occurred and the Administrative Agent has given notice to the Pledgors of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 hereof, the Pledgors shall be permitted to receive all cash dividends, to the extent permitted in the Credit Agreement, in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s reasonable judgment, would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, this Pledge Agreement or any other Credit Document.

Appears in 3 contracts

Samples: Pledge Agreement (Speedway TBA, Inc.), Pledge Agreement (Inex Corp), Pledge Agreement (Speedway Motorsports Inc)

Cash Dividends; Voting Rights. Unless an Event of Default has shall have occurred and be continuing and the Administrative Agent has shall have given notice to the Pledgors Pledgor of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 hereof8 below, the Pledgors Pledgor shall be permitted to receive all cash dividends, to distributions or other payments paid in accordance with the extent permitted in terms of the Credit Agreement, Agreement in respect of the Pledged Stock Securities and to exercise all voting and corporate rights with respect to the Pledged StockSecurities; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s reasonable judgment, which would impair the Collateral or which would be inconsistent with or result in any violation of any provision of this Agreement, the Credit Agreement, this Pledge Agreement or any other Credit Loan Document.

Appears in 3 contracts

Samples: Pledge Agreement (Dover Motorsports Inc), Pledge Agreement (Dover Motorsports Inc), Pledge Agreement (Dover Motorsports Inc)

Cash Dividends; Voting Rights. Unless an Event of Default has shall have occurred and be continuing and the Administrative Agent has shall have given notice to the Pledgors Pledgor of the Administrative Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 hereofbelow, the Pledgors Pledgor shall be permitted to receive all cash dividends, to dividends paid in accordance with the extent permitted in terms of the Amended and Restated Credit Agreement, Agreement in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s reasonable judgment, which would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Amended and Restated Credit Agreement, the Notes, any other Loan Documents or this Pledge Agreement or any other Credit DocumentAgreement.

Appears in 2 contracts

Samples: Pledge Agreement (Acc Corp), Pledge Agreement (Acc Corp)

Cash Dividends; Voting Rights. Unless an Event of Default has shall ----------------------------- have occurred and be continuing and the Administrative Agent has shall have given notice to the Pledgors Pledgor of the Administrative Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 hereofbelow, the Pledgors Pledgor shall be permitted to receive all cash dividends, to dividends paid in accordance with the extent permitted in terms of the Credit Agreement, Agreement in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or -------- corporate right exercised or other action taken which, in the Administrative Agent’s reasonable judgment, which would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Notes, any other Loan Documents or this Pledge Agreement or any other Credit DocumentAgreement.

Appears in 2 contracts

Samples: Pledge Agreement (Acc Corp), Pledge Agreement (Acc Corp)

Cash Dividends; Voting Rights. Unless an Event of Default has occurred and the Administrative Agent has given notice to the Pledgors of the Administrative Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 hereof, the Pledgors shall be permitted to receive all cash dividends, to the extent permitted in the Credit Agreement, in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s 's reasonable judgment, would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, this Pledge Agreement or any other Credit Document.

Appears in 1 contract

Samples: Pledge Agreement (Inex Corp)

Cash Dividends; Voting Rights. Unless an Event of Default has shall have occurred and be continuing and the Administrative Agent has shall have given notice to the Pledgors Pledgor of the Administrative Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 hereofbelow, the Pledgors Pledgor shall be permitted to receive all cash dividends, to dividends paid in accordance with the extent permitted in terms of the Credit Agreement, Agreement in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, howeverPROVIDED, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s reasonable judgment, which would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Notes, any other Loan Documents or this Pledge Agreement or any other Credit DocumentAgreement.

Appears in 1 contract

Samples: Pledge Agreement (Acc Corp)

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Cash Dividends; Voting Rights. Unless an Event of Default has shall have occurred and be continuing and the Administrative Collateral Agent has shall have given notice to the Pledgors of the Administrative Collateral Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 hereofbelow, the Pledgors shall be permitted to receive and retain all cash dividends, to the extent permitted in the Credit Agreement, in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s reasonable judgment, which would impair the Collateral in any material respect or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, this Pledge Agreement or any other Credit Document.

Appears in 1 contract

Samples: Pledge Agreement (Railworks Corp)

Cash Dividends; Voting Rights. Unless an Event of Default has shall have occurred and be continuing and the Administrative Agent has shall have given notice to the Pledgors Borrower of the Administrative Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 hereofbelow, the Pledgors Pledgor shall be permitted to receive all cash dividendsdividends paid in the normal course of business of the Issuers, to the extent permitted in the Credit Agreement, in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in which would impair the Administrative Agent’s reasonable judgment, would impair 's rights in the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Notes, this Pledge Agreement or any the other Credit DocumentLoan Documents.

Appears in 1 contract

Samples: Borrower Pledge Agreement (Armor Holdings Inc)

Cash Dividends; Voting Rights. Unless an Event of Default has shall have occurred and be continuing and the Administrative Agent has shall have given notice to the Pledgors of the Administrative Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 hereofbelow, the Pledgors shall be permitted to receive all cash dividends, to the extent permitted dividends paid in the Credit Agreement, normal course of business of the Issuers consistent with past practice in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s 's reasonable judgment, would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Guarantee, this Pledge Agreement or any other Credit Loan Document.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Young & Rubicam Inc)

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