Common use of Cash Dividends; Voting Rights Clause in Contracts

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Agent shall have given notice to the Company of the Agent's intent to exercise its rights pursuant to paragraph 7 below, the Pledgor shall be permitted to receive all dividends (other than dividends paid in additional capital stock of any Issuer) paid in the normal course of business of each Issuer and consistent with past practice, 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 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, the Notes or any of the other Loan Documents.

Appears in 4 contracts

Samples: Pledge Agreement (West Coast Entertainment Corp), Pledge Agreement (West Coast Entertainment Corp), Pledge Agreement (West Coast Entertainment Corp)

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Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Agent shall have given notice to the Company Pledgor of the Agent's intent to exercise its corresponding rights pursuant to paragraph 7 below, the Pledgor shall be permitted to receive all dividends (other than dividends and distributions paid in additional capital stock of any Issuer) paid in the normal course of business of each Issuer and consistent with past practice, to the extent permitted in the Credit Agreement, or made in respect of the Pledged Stock Equity Interests and to exercise all voting and corporate or limited liability company (as the case may be) and other rights with respect to the Pledged Stock, Equity Interests; provided, however, that no vote shall be cast or corporate or limited liability company (as the case may be) right exercised or other action taken which, in the Agent's reasonable judgment, which would materially impair the Collateral or which would be inconsistent with (other than pursuant to a transaction permitted under the Credit Agreement) or result in any violation of any provision of the Credit Agreement, the Notes this Agreement or any of the other Loan DocumentsCredit Document.

Appears in 4 contracts

Samples: Pledge Agreement (Remington Arms Co Inc/), Pledge Agreement (Remington Arms Co Inc/), Pledge Agreement (Remington Arms Co Inc/)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Agent shall have given notice to the Company Pledgors of the Agent's intent to exercise its corresponding rights pursuant to paragraph Section 7 below, the Pledgor Pledgors shall be permitted to receive all cash dividends (other than dividends paid in additional capital stock of any Issuer) paid in the normal course of business of each Issuer the Issuers and consistent with past practicepractice or otherwise to enable the partners or shareholders of the Pledgors to pay taxes, to the extent permitted in by 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 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, the Notes this Agreement or any of the other Loan DocumentsCredit Document.

Appears in 2 contracts

Samples: Pledge Agreement (M & M Properties Inc), Pledge Agreement (MST Enterprises Inc)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Company Pledgors of the Administrative Agent's intent to exercise its corresponding rights pursuant to paragraph Section 7 below, the Pledgor Pledgors shall be permitted to receive all cash dividends (other than dividends paid in additional capital stock of any Issuer) paid in the normal course of business of each Issuer the Issuers and consistent with past practice, to the extent permitted in the Credit Agreement, in respect of the Pledged Stock Collateral and to exercise all voting voting, corporate (with respect to stock), member (with respect to LLC interests) and corporate partnership (with respect to partnership interests rights with respect to the Pledged Stock, Collateral; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the 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 Notes, this Pledge Agreement or any of the other Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Denali Inc), Pledge Agreement (Denali Inc)

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Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Company Pledgor of the Administrative Agent's intent to exercise its corresponding rights pursuant to paragraph Section 7 below, the Pledgor shall be permitted to receive all dividends (other than dividends and distributions paid in additional capital stock of any Issuer) paid in the normal course of business of each Issuer and consistent with past practice, to the extent permitted in the Credit Agreement, or made in respect of the Pledged Stock and to exercise all voting and corporate and other 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 Agent's reasonable judgment, which would materially impair the Collateral or which would be inconsistent with (other than pursuant to a transaction permitted under the Credit Agreement) or result in any violation of any provision of the Credit Agreement, the Notes Notes, this Agreement or any of the other Loan DocumentsDocument.

Appears in 1 contract

Samples: Pledge Agreement (Raci Holding Inc)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Agent shall have given notice to the Company Pledgor of the Agent's intent to exercise its corresponding rights pursuant to paragraph Section 7 below, the Pledgor shall be permitted to receive all cash dividends (other than dividends paid in additional capital stock of any Issuer) paid in the normal course of business of each Issuer the Issuers and consistent with past practice, 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 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, the Notes Notes, this Agreement or any of the other Loan DocumentsDocument.

Appears in 1 contract

Samples: Credit Agreement (Paxson Communications Corp)

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