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 Administrative Agent shall have given notice to the Pledgor of the Administrative's Agent intent to exercise its rights pursuant to Section 7 below, the Pledgor shall be permitted to receive all dividends or other payments or distributions made upon or with respect to the Pledged Stock in cash paid in accordance with the terms of the Credit Agreement in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent's judgment, exercised in a reasonable manner, 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.

Appears in 3 contracts

Samples: Pledge Agreement (Cable Michigan Inc), Credit Agreement (Cable Michigan Inc), Credit Agreement (RCN Corp /De/)

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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 Pledgor of the AdministrativeAdministrative Agent's Agent intent to exercise its corresponding rights pursuant to Section 7 below, the Pledgor shall be permitted to receive all cash dividends or other payments or distributions made upon or with respect to the Pledged Stock in cash paid in accordance with the terms normal course of business of the Credit Agreement Issuer and consistent with past practice in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; providedPROVIDED, HOWEVER, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent's reasonable judgment, exercised in a reasonable manner, 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 other Loan Documents or this Pledge AgreementDocument.

Appears in 2 contracts

Samples: Holdings Pledge Agreement (Homeside Lending Inc), Pledge Agreement (Homeside Lending 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 relevant Pledgor of the AdministrativeAdministrative Agent's Agent intent to exercise its corresponding rights pursuant to Section 7 below, the such Pledgor shall be permitted to receive all cash dividends or other payments or distributions made upon or paid in the normal course of business of the Issuer[s] and consistent with respect past practice, to the Pledged Stock extent permitted in cash paid in accordance with the 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, exercised in a reasonable manner, would impair the Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Notesnotes, this Agreement or any other Loan Documents or this Pledge AgreementCredit Document.

Appears in 2 contracts

Samples: Pledge Agreement (Avis Rent a Car Inc), Credit Agreement (Avis Rent a Car 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 Pledgor Pledgors of the AdministrativeAgent's Agent intent to exercise its corresponding rights pursuant to Section 7 below, the Pledgor Pledgors shall be permitted to receive all cash dividends or other payments or distributions made upon or paid in the normal course of business of the Issuer and consistent with respect past practice, to the Pledged Stock extent permitted in cash paid in accordance with the 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, exercised in a reasonable manner, 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 other Loan Documents or this Pledge AgreementDocument.

Appears in 1 contract

Samples: Credit Agreement (Paxson Communications Corp)

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 Pledgor of the AdministrativeAdministrative Agent's Agent intent to exercise its corresponding rights pursuant to Section 7 below, the Pledgor shall be permitted to receive all cash dividends or other payments or distributions made upon or paid in the normal course of business of the Issuers and consistent with respect past practice, to the Pledged Stock extent permitted in cash paid in accordance with the terms of the Credit Agreement Agreement, in respect of the Pledged Stock Collateral and to exercise all voting and corporate rights with respect to the Pledged StockCollateral; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent's reasonable judgment, exercised in a reasonable manner, 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 other Loan Documents or this Pledge AgreementDocument.

Appears in 1 contract

Samples: Credit Agreement (Adelphia Communications 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 Pledgor of the Administrative's Agent intent to exercise its rights pursuant to Section 7 below, the Pledgor shall be permitted to receive all dividends or other payments or distributions made upon or with respect to the Pledged Stock in cash paid in accordance with the terms of the Credit Agreement in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent's judgment, exercised in a commercially reasonable manner, 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.

Appears in 1 contract

Samples: Credit Agreement (RCN Corp /De/)

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 Pledgor of the Administrative's Agent intent to exercise its rights pursuant to Section 7 below, the Pledgor shall be permitted to receive all dividends or other payments or distributions made upon or with respect to the Pledged Stock Interests in cash paid in accordance with the terms of the Credit Agreement in respect of the Pledged Stock Interests and to exercise all voting and corporate other partnership rights with respect to the Pledged StockInterests; provided, that no vote shall be cast or corporate other partnership right exercised or other action taken which, in the Administrative Agent's judgment, exercised in a commercially reasonable manner, 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.

Appears in 1 contract

Samples: Credit Agreement (RCN Corp /De/)

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 a Pledgor or Pledgors of the AdministrativeAdministrative Agent's Agent intent to exercise its corresponding rights pursuant to Section 7 below, the Pledgor all Pledgors shall be permitted to receive all cash dividends or other payments or distributions made upon or with respect paid in the normal course of business of the Issuers, to the Pledged Stock extent permitted in cash paid in accordance with the 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, exercised in a reasonable manner, 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 other Loan Documents or this Pledge AgreementDocument.

Appears in 1 contract

Samples: Pledge Agreement (Meridian Resource Corp)

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