Common use of Cash Dividends; Voting Rights Clause in Contracts

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Pledgors of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributions, dividends or preferred share redemption proceeds permitted to be paid pursuant to the terms of the Credit Agreement and to exercise all voting, corporate (with respect to Pledged Stock), member (with respect to Pledged LLC Interests) and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a), each Pledgor agrees that no vote shall be cast or corporate, partnership or member right exercised or other action taken which would impair any Pledged Collateral or which would result in any violation of any provision of the Credit Agreement, this Pledge Agreement or any other Loan Document.

Appears in 2 contracts

Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP)

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Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Pledgors of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributions, dividends or preferred share redemption proceeds permitted to be paid pursuant to the terms of the Credit Agreement and to exercise all voting, corporate (with respect to Pledged Stock), member (with respect to Pledged LLC Interests) and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a), each Pledgor Pledgor, in its capacity as the owner of Pledged Collateral, agrees that no vote shall be cast by it or corporate, partnership or member right exercised or other action taken by it which would impair any Pledged Collateral or which would result in any violation of any provision of the Credit Agreement, this Pledge Agreement or any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Sprague Resources LP)

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent Pledgee shall have given notice to the Pledgors Pledgor of the Administrative AgentPledgee’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributionsdistributions and dividends paid in the normal course of business of the Issuers in respect of the Pledged Collateral, dividends or preferred share redemption proceeds permitted to be paid pursuant to the terms of extent permitted under the Credit Loan Agreement and the Parent Guarantee, and to exercise all voting, corporate (with respect to Pledged Stock), member (with respect to Pledged LLC Interests) and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a), each Pledgor agrees that no vote shall be cast or corporate, partnership or member right exercised or other action taken which would impair any Pledged Collateral subordinate, invalidate, or eliminate the Liens granted hereunder or which would result in any violation of be inconsistent with or violate any provision of the Credit Loan Agreement, this Pledge Agreement or any other Loan DocumentFinancing Agreement.

Appears in 1 contract

Samples: Pledge Agreement (BlueLinx Holdings Inc.)

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Pledgors of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive all lawful cash dividends and retain all cash distributionsdistributions paid, dividends except as limited by the Credit Agreement or preferred share redemption proceeds permitted as required to be paid over to the Administrative Agent pursuant to the terms other provisions of this Agreement, in respect of the Credit Agreement Pledged Collateral of such Pledgor and to exercise all voting, corporate (with respect to Pledged Stock)voting and corporate, member (with respect to Pledged LLC Interests) and or partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a)Collateral of such Pledgor; provided, each Pledgor agrees however, that no vote shall be cast or corporate, member or partnership or member right exercised or other action taken which which, in the Administrative Agent’s reasonable judgment, would impair any the Pledged Collateral of such Pledgor 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 other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Managers Group Inc)

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Pledgors of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributions, dividends or preferred share redemption proceeds permitted to be paid pursuant to the terms of the Credit Agreement and to exercise all voting, corporate (with respect to Pledged StockStock and Pledged ULC Interests), member (with respect to Pledged LLC Interests) and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a), each Pledgor agrees that no vote shall be cast or corporate, partnership or member right exercised or other action taken which would impair any Pledged Collateral or which would result in any violation of any provision of the Credit Agreement, this Pledge Agreement or any other Loan Document.. CANADIAN PLEDGE AGREEMENT

Appears in 1 contract

Samples: Credit Agreement

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Collateral Agent shall have given notice to the Pledgors of the Administrative Collateral Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributions, dividends or preferred share redemption proceeds permitted to be and other distributions paid pursuant in the normal course of business of the Issuers to the terms extent permitted in the Credit Agreement, in respect of the Credit Agreement Pledged Collateral and to exercise all voting, corporate (with respect to Pledged Stockstock), member (with respect to Pledged LLC Interests) interests), and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a); provided, each Pledgor agrees however, that no vote shall be cast or corporate, member or partnership or member right exercised or other action taken which would impair any the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Acquisition Notes, this Pledge Agreement or any the other Loan DocumentDocuments.

Appears in 1 contract

Samples: Pledge Agreement (Global Signal Inc)

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Collateral Agent shall have given notice to the Pledgors of the Administrative Collateral Agent’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributions, dividends or preferred share redemption proceeds permitted to be paid pursuant to the terms of the Amended and Restated Credit Agreement and to exercise all voting, corporate (with respect to Pledged Stock), member (with respect to Pledged LLC Interests) and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a), each Pledgor agrees that no vote shall be cast or corporate, partnership or member right exercised or other action taken which would impair any Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Amended and Restated Credit Agreement, this Amended and Restated Pledge Agreement or any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Sprague Resources LP)

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Collateral Agent shall have given notice to the Pledgors of the Administrative Collateral Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributions, dividends or preferred share redemption proceeds permitted to be and other distributions paid pursuant in the normal course of business of the Issuers to the terms extent permitted in the Bridge Loan Agreement, in respect of the Credit Agreement Pledged Collateral and to exercise all voting, corporate (with respect to Pledged Stockstock), member (with respect to Pledged LLC Interests) interests), and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a); provided, each Pledgor agrees however, that no vote shall be cast or corporate, member or partnership or member right exercised or other action taken which would impair any the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Bridge Loan Agreement, the Notes, this Pledge Agreement or any the other Loan DocumentDocuments.

Appears in 1 contract

Samples: Pledge Agreement (Global Signal Inc)

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Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Pledgors of the Administrative Agent’s 's intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor the Pledgors shall be permitted to receive (a) all payments of principal and retain all cash distributions, dividends or preferred share redemption proceeds permitted to be paid interest and other amounts payable pursuant to the Pledged Debt and paid in accordance with the terms of the Credit Agreement and (b) all cash dividends paid in accordance with the terms of the Credit Agreement in respect of the Pledged Stock and to exercise all voting, voting and corporate (with respect to Pledged Stock), member (with respect to Pledged LLC Interests) and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a)Stock; provided, each Pledgor agrees that no vote shall be cast or corporate, partnership or member corporate right exercised or other action taken which would impair any Pledged the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, this Pledge Agreement or the Notes, any other Loan DocumentDocuments or this Pledge Agreement.

Appears in 1 contract

Samples: Pledge Agreement (Choice One Communications Inc)

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent Lender shall have given notice to the Pledgors of the Administrative AgentLender’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributionsdividends paid in the normal course of business of the Issuers and consistent with past practice, dividends or preferred share redemption proceeds permitted to be paid pursuant to the terms extent permitted in the Loan Agreement, in respect of the Credit Agreement Pledged Collateral and to exercise all voting, corporate (with respect to Pledged Stockstock), member (with respect to Pledged LLC Interests) interests), and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a); provided, each Pledgor agrees however, that no vote shall be cast or corporate, partnership corporate or member right exercised or other action taken which would impair any the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Loan Agreement, the Note, this Pledge Agreement or any the other Loan DocumentDocuments.

Appears in 1 contract

Samples: Pledge Agreement (GMH Communities Trust)

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Pledgors of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributions, dividends or preferred share redemption proceeds permitted to be paid pursuant to the terms of the Credit Agreement and to exercise all voting, corporate (with respect to Pledged StockStock and Pledged ULC Interests), member (with respect to Pledged LLC Interests) and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) Notwithstanding Section 6(a), each Pledgor agrees that no vote shall be cast or corporate, partnership or member right exercised or other action taken which would impair any Pledged Collateral or which would result in any violation of any provision of the Credit Agreement, this Pledge Agreement or any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Sprague Resources LP)

Cash Dividends; Voting Rights. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent Secured Party shall have given notice to the Pledgors Pledgor of the Administrative AgentSecured Party’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive and retain all cash distributionsdistributions and dividends paid in the normal course of business of the Issuers in respect of the Pledged Collateral, dividends or preferred share redemption proceeds permitted to be paid pursuant to the terms of extent permitted under the Credit Agreement Loan Agreement, and to exercise all voting, corporate (with respect to Pledged Stock), member (with respect to Pledged LLC Interests) and partnership (with respect to Pledged Partnership Interests) rights with respect to the Pledged Collateral. (b) . Notwithstanding Section 6(a)60, each Pledgor agrees that no vote shall be cast or corporate, partnership or member right exercised or other action taken which would impair any Pledged Collateral subordinate, invalidate, or eliminate the Liens granted hereunder or which would result in any violation of be inconsistent with or violate any provision of the Credit Loan Agreement, this Pledge Agreement or any other Loan Document.

Appears in 1 contract

Samples: Pledge Agreement (BlueLinx Holdings Inc.)

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