Common use of Cash Dividends; Voting Rights Clause in Contracts

Cash Dividends; Voting Rights. Unless an Event of Default or Potential Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to receive all cash dividends paid in respect of the Pledged Equity Interests to the extent permitted in the Credit Agreement; provided that any such cash dividends received by the Pledgor during the pendency of any Potential Event of Default but prior to the occurrence of an Event of Default shall be promptly returned to the Issuer of such cash dividends, and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity Interests; 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 other Related Documents or this Pledge Agreement.

Appears in 1 contract

Samples: Pledge Agreement (Aleritas Capital Corp.)

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Cash Dividends; Voting Rights. Unless an Event of Default or Potential an event which, with the lapse of time or the giving of notice or both, would constitute an Event of Default Default, shall have occurred and be continuingoccurred, the Pledgor shall be permitted to receive all cash dividends paid in the normal course of business of Pledgee and in respect of the Pledged Equity Interests to the extent permitted in the Credit Agreement; Stock (provided that any such cash dividends received by the are consistent with past practice of which Pledgor during the pendency of any Potential Event of Default but prior to the occurrence of an Event of Default shall be promptly returned to the Issuer of such cash dividends, acknowledges it is familiar with) and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity InterestsStock; provided provided, however, that (a) any and all cash dividends or distributions paid that are not in the normal course of business of Pledgee or are not consistent with past practice shall be delivered to the Pledgee forthwith as additional Collateral security for the Obligations and, until so delivered, shall be held by the Pledgor as agent of, and in trust for, the Pledgee, segregated from other funds of the Pledgor, as additional Collateral security; and (b) no vote shall be cast or corporate right exercised or other action taken which, in the Agent’s reasonable Pledgee's sole judgment, would impair the Collateral or its salability or which would be inconsistent with or result in any violation of any provision of the Credit AgreementNote, the other Related Documents or this Pledge AgreementAgreement or any other document made, delivered or given in connection therewith or herewith.

Appears in 1 contract

Samples: Pledge Agreement (Sandata Inc)

Cash Dividends; Voting Rights. Unless an Event of Default or Potential Event of a Default shall have occurred and be continuingcontinuing (or, solely with respect to dividends permitted under Section 6.7 of the Credit Agreement, an Event of Default), the Pledgor shall be permitted to receive all RECEIVE ALL cash dividends paid in respect of the Pledged Equity Interests to the extent permitted in the Credit Agreement, in respect of the Pledged Stock; provided PROVIDED that any such cash dividends received by the Pledgor during the pendency of any Potential Default or Event of Default but prior to the occurrence of an Event of Default Default, as applicable, shall be promptly returned to the Issuer of such cash dividends, Issuers and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity InterestsStock; provided PROVIDED that no vote shall be cast or corporate right exercised or other action taken which, in the 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 Notes, the other Related Loan Documents or this Pledge Agreement.

Appears in 1 contract

Samples: Pledge Agreement (Oro Spanish Broadcasting Inc)

Cash Dividends; Voting Rights. Unless an Event of Default or Potential Event of a Default shall have occurred and be continuing, the Pledgor shall be permitted to receive all cash dividends paid in respect of the Pledged Equity Interests Stock to the extent permitted in the Credit Agreement; provided that any such cash dividends received by the Pledgor during the pendency of any Potential Default or Event of Default but prior to the occurrence of an Event of Default Default, as applicable, shall be promptly returned to the Issuer of such cash dividends, respectively, and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity InterestsStock; provided that no vote shall be cast or corporate right exercised or other action taken which, in the 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 Notes, the other Related Loan Documents or this Pledge Agreement.

Appears in 1 contract

Samples: Credit Agreement (Oro Spanish Broadcasting Inc)

Cash Dividends; Voting Rights. Unless an Event of Default or Potential Event of a Default shall have occurred and be continuingcontinuing (or, solely with respect to dividends permitted under Section 6.7 of the Credit Agreement, an Event of Default), the Pledgor shall be permitted to receive all cash dividends paid in respect of the Pledged Equity Interests to the extent permitted in the Credit Agreement, in respect of the Pledged Stock; provided that any such cash dividends received by the Pledgor during the pendency of any Potential Default or Event of Default but prior to the occurrence of an Event of Default Default, as applicable, shall be promptly returned to the Issuer of such cash dividends, Borrower and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity InterestsStock; provided that no vote shall be cast or corporate right exercised or other action taken which, in the 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 Notes, the other Related Loan Documents or this Pledge Agreement.

Appears in 1 contract

Samples: Credit Agreement (Oro Spanish Broadcasting Inc)

Cash Dividends; Voting Rights. Unless an Event of Default under the Loan Agreement, the Note, or Potential Event of Default any other agreement executed to evidence and/or secure the Indebtedness (the "Other Agreements") shall have occurred and be continuing, the Pledgor shall be permitted entitled to receive all cash dividends paid in respect of the Pledged Equity Interests to the extent permitted in the Credit Agreement; provided that any such cash dividends received Stock owned or hereafter acquired by the Pledgor during the pendency of any Potential Event of Default but prior to the occurrence of it. Unless and until an Event of Default shall be promptly returned (such term to the Issuer of such cash dividends, and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless mean an Event of Default as defined herein) shall have occurred and be continuingcontinuing and the Lender has elected to exercise its rights and remedies under Section 8 below, the Pledgor shall be permitted entitled to exercise vote any and all voting Pledged Stock and corporate rights with to give consents, waivers or ratifications in respect to the Pledged Equity Intereststhereof; provided that no vote shall be cast or corporate right exercised any consent, waiver or other ratification given or any action taken which, in the Agent’s reasonable judgment, which would impair the Collateral or which would violate or be inconsistent with or result in any violation of any provision of the Credit terms of this Agreement, or the other Related Documents Loan Documents; provided, further, that the Pledgor shall give the Lender at least five (5) Business Days written notice of the manner in which it intends to exercise, or this Pledge Agreementthe reasons for refraining from exercising, any such right if the exercise or non- exercise of such right potentially may violate or be inconsistent with the aforementioned agreements.

Appears in 1 contract

Samples: Loan Agreement (Temtex Industries Inc)

Cash Dividends; Voting Rights. Unless an Event of Default or Potential Event of a Default shall have occurred and be continuingcontinuing (or, solely with respect to dividends permitted under Section 6.7 of the Credit Agreement, an Event of Default), the Pledgor shall be permitted to receive all cash dividends paid in respect of the Pledged Equity Interests to the extent permitted in the Credit Agreement, in respect of the Pledged Stock; provided that any such cash dividends received by the Pledgor during the pendency of any Potential Default or Event of Default but prior to the occurrence of an Event of Default Default, as applicable, shall be promptly returned to the Issuer of such cash dividends, and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity InterestsStock; provided that no vote shall be cast or corporate right exercised or other action taken which, in the 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 Notes, the other Related Loan Documents or this Pledge Agreement.

Appears in 1 contract

Samples: Credit Agreement (Oro Spanish Broadcasting Inc)

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Cash Dividends; Voting Rights. (a) Unless an Event of Default or Potential Event of Default shall have occurred and be continuingcontinuing and the Agent shall have given notice to a Pledgor of the Agent's intent to exercise its corresponding rights pursuant to Section 9 below, the such Pledgor shall be permitted to receive all cash dividends paid in respect the normal course of business of the Pledged Equity Interests Issuers and consistent with past practice, to the extent permitted in the Credit Agreement; provided that any such cash dividends received by , in respect of the Pledgor during the pendency of any Potential Event of Default but prior to the occurrence of an Event of Default shall be promptly returned to the Issuer of such cash dividends, Pledged Stock and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity InterestsStock; provided provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the 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 Notes, this Agreement or any other Related Documents or this Pledge AgreementLoan Document. (b) Unless an Event of Default shall have occurred and be continuing and the Agent shall have given notice to a Pledgor of the Agent's intent to exercise its corresponding rights pursuant to Section 9 hereof, such Pledgor shall be permitted to receive and retain all scheduled interest and principal payments on account of the Pledged Notes of such Pledgor.

Appears in 1 contract

Samples: Credit Agreement (Paxson Communications Corp)

Cash Dividends; Voting Rights. (a) Unless an Event of Default or Potential Event of Default shall have occurred and be continuingcontinuing and the Agent shall have given notice to the Borrower of the Agent's intent to exercise its corresponding rights pursuant to Section 9 below, the Pledgor Borrower shall be permitted to receive all cash dividends paid in respect the normal course of business of the Pledged Equity Interests Issuers and consistent with past practice, to the extent permitted in the Credit Agreement; provided that any such cash dividends received by , in respect of the Pledgor during the pendency of any Potential Event of Default but prior to the occurrence of an Event of Default shall be promptly returned to the Issuer of such cash dividends, Pledged Stock and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be promptly delivered to the Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity InterestsStock; provided provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the 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 Notes, this Agreement or any other Related Documents or this Pledge AgreementLoan Document. (b) Unless an Event of Default shall have occurred and be continuing and the Agent shall have given notice to the Borrower of the Agent's intent to exercise its corresponding rights pursuant to Section 9 hereof, the Borrower shall be permitted to receive and retain all scheduled interest and principal payments on account of the Pledged Notes of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Paxson Communications Corp)

Cash Dividends; Voting Rights. Unless an Event of a Default or Potential Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to receive all cash dividends paid in respect of the Pledged Equity Interests Stock to the extent permitted in the Credit Agreement; provided PROVIDED that any such cash dividends received by the Pledgor during the pendency of any Potential Default or Event of Default but prior Default, as applicable, shall be returned promptly to the occurrence of an Event of Default shall be promptly returned to the Issuer issuer of such cash dividends, respectively, and any such cash dividends received during the pendency of any Event of Default or during the pendency of a Potential Event of Default but not returned prior to such Event of Default shall be delivered promptly delivered to the Administrative Agent. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall be permitted to exercise all voting and corporate rights with respect to the Pledged Equity InterestsStock; provided PROVIDED 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 Notes, the other Related Loan Documents or this Pledge Agreement.

Appears in 1 contract

Samples: Credit Agreement (Aavid Thermal Technologies Inc)

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