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 Administrative Agent shall have given notice to the Company a Pledgor or Pledgors of the Administrative Agent's intent to exercise its corresponding rights pursuant to paragraph Section 7 below, the Pledgor all 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 and consistent with past practicethe 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, provided, howeverHOWEVER, 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, the Notes Notes, this Agreement or any of the other Loan DocumentsDocument.

Appears in 1 contract

Samples: Pledge Agreement (Meridian Resource Corp)

Cash Dividends; Voting Rights. Unless Subject to the provisions of the Credit Agreement, the Cash Management Agreement and the other Loan Documents, and 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 belowcontinuing, the Pledgor Pledgors shall be permitted to receive all general partnership, limited partnership and/or regular, preferred or any other membership interest distributions or cash 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 practiceany Pledged Borrower, to the extent permitted in the Credit Agreementas applicable, in respect of the Pledged Stock and to exercise all voting and general partnership, limited partnership and/or regular, preferred or any other membership interests or corporate rights with respect to the Pledged StockCollateral, provided, however, provided 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 DocumentsDocument.

Appears in 1 contract

Samples: Pledge and Security Agreement (Shelbourne Properties I 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 Pledgor of the Administrative Agent's intent to exercise its corresponding rights pursuant to paragraph 7 belowSection , 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, provided, howeverHOWEVER, 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, the Notes Notes, this Agreement or any of the other Loan DocumentsDocument.

Appears in 1 contract

Samples: Pledge Agreement (Homeside Lending Inc)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Agent Purchaser shall have given notice to the Company Pledgors of the Agent's Purchaser’s intent to exercise its corresponding rights pursuant to paragraph 7 Section 9 below, the each 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 Purchase Agreement, in respect of the Pledged Stock Equity and to exercise all voting and corporate organizational rights with respect to the Pledged Stock, Equity; provided, however, that no vote shall be cast or corporate organizational right exercised or other action taken which, in the Agent's Purchaser’s reasonable judgment, would materially impair the Collateral or which would be materially inconsistent with or result in any violation of any provision of the Credit Purchase Agreement, the Notes Note, this Agreement or any of the other Loan DocumentsTransaction Document.

Appears in 1 contract

Samples: Security Agreement (Center for Wound Healing, 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 Borrower of the Administrative Agent's intent to exercise its corresponding rights pursuant to paragraph 7 Section below, the Pledgor Borrower 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, provided, howeverHOWEVER, 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 in a manner inconsistent with the Credit Agreement 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 (Core Mark International Inc)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Collateral Agent shall have given notice to the Company Pledgors of the Collateral Agent's ’s intent to exercise its corresponding rights pursuant to paragraph 7 Section 9 below, the each 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 Purchase Agreement, in respect of the Pledged Stock Equity and to exercise all voting and corporate organizational rights with respect to the Pledged Stock, Equity; provided, however, that no vote shall be cast or corporate organizational right exercised or other action taken which, in the Collateral Agent's ’s reasonable judgment, would materially impair the Collateral or which would be materially inconsistent with or result in any violation of any provision of the Credit Purchase Agreement, the Notes Note, this Agreement or any of the other Loan DocumentsTransaction Document.

Appears in 1 contract

Samples: Pledge Agreement (Impco Technologies Inc)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Agent Bank shall have given notice to the Company Pledgor of the AgentBank'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 AgentBank'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 Revolving Credit Note or any of the other Loan Documents.

Appears in 1 contract

Samples: Pledge Agreement (Environmental Tectonics Corp)

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