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 Lender shall have given notice to the Pledgors of the Lender’s intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor shall be permitted to receive all cash dividends paid in the normal course of business of the Issuers and consistent with past practice, to the extent permitted in the Credit Agreement, in respect of the Pledged Collateral and to exercise all voting, corporate (with respect to stock), and member (with respect to LLC interests) rights with respect to the Pledged Collateral; provided, however, that no vote shall be cast or corporate or member right exercised or other action taken which would impair the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Notes, this Pledge Agreement or the other Loan Documents.

Appears in 3 contracts

Samples: Pledge Agreement, Pledge Agreement (Merisel Inc /De/), Pledge Agreement (Merisel Inc /De/)

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Cash Dividends; Voting Rights. Unless an "Event of Default Default" shall have occurred and be continuing under the Reimbursement Agreement (other than under Section 4.1(b) thereof) or the Credit Agreement and the Lender Pledge Agent shall have given notice to the Pledgors Pledgor of the Lender’s Pledge Agent's intent to exercise its corresponding rights pursuant to Section 7 8 below, each the Pledgor shall be permitted to receive all cash dividends paid in the normal course of business of the Issuers Issuer and consistent with past practice, to the extent permitted in the Credit Agreement, practice in respect of the Pledged Collateral Stock and to exercise all voting, voting and corporate (with respect to stock), and member (with respect to LLC interests) rights with respect to the Pledged CollateralStock; provided, however, that no vote shall be cast or corporate or member right exercised or other action taken which which, in the Pledge Agent's reasonable judgment, would impair the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Reimbursement Agreement or the Credit Agreement, the any Notes, this Pledge Agreement or the any other Loan DocumentsDocument.

Appears in 1 contract

Samples: Credit Agreement (Audiovox Corp)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Lender Administrative Agent shall have given notice to the Pledgors Pledgor of the Lender’s Administrative Agent's intent to exercise its corresponding rights pursuant to Section 7 below, each the Pledgor shall be permitted to receive all cash dividends paid in the normal course of business of the Issuers Borrower and consistent with past practice, to the extent permitted in and subject to the provisions of the Credit Agreement, the Security Deposit Agreement and the other Credit Documents (including, without limitation, Section 6.5 of the Credit Agreement), in respect of the Pledged Collateral Stock and to exercise all voting, voting and corporate (with respect to stock), and member (with respect to LLC interests) rights with respect to the Pledged CollateralStock; provided, however, that no vote shall be cast or corporate or member right exercised or other action taken which which, in the Administrative Agent's reasonable judgment, would impair the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Revolving Notes, this Pledge Agreement or the any other Loan DocumentsCredit Document.

Appears in 1 contract

Samples: Pledge Agreement (Cogentrix Energy Inc)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Lender Administrative Agent shall have given notice to the Pledgors Pledgor of the LenderAdministrative Agent’s intent to exercise its corresponding rights pursuant to Section 7 below, each the Pledgor shall be permitted to receive all lawful cash dividends and cash distributions paid, except as limited by the Credit Agreement or as required to be paid in the normal course of business of the Issuers and consistent with past practice, over to the extent permitted in Administrative Agent pursuant to the Credit other provisions of this Agreement, in respect of the Pledged Collateral and to exercise all votingvoting and corporate, corporate (with respect to stock), and member (with respect to LLC interests) or partnership rights with respect to the Pledged Collateral; provided, however, that no vote shall be cast or corporate corporate, member or member partnership right exercised or other action taken which which, in the Administrative Agent’s reasonable judgment, would impair the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Notes, this Pledge Agreement or the any other Loan DocumentsDocument.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Managers Group Inc)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Lender Trustee shall have given notice to the Pledgors Company of the Lender’s Trustee's intent to exercise its corresponding rights pursuant to Section 7 below, each Pledgor the Company shall be permitted to receive all cash dividends in respect of the Pledged Stock and all payments in respect of the Pledged Notes, in each case (a) paid in the normal course of business of the Issuers each Issuer and (b) consistent with past practice, to the extent permitted in by the Credit AgreementIndenture, in respect of the Pledged Collateral and to exercise all voting, voting and corporate (with respect to stock), and member (with respect to LLC interests) rights with respect to the Pledged CollateralSecurities; provided, however, that no vote shall be cast or corporate or member right exercised or other action taken which which, in the Trustee's reasonable judgment, would impair the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit this Agreement, the Notes, this Pledge Agreement Indenture or the other Loan Documentsany Security Document.

Appears in 1 contract

Samples: Indenture (Mounger Corp)

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Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Lender shall have given notice to the Pledgors Pledgor of the Lender’s intent to exercise its corresponding rights pursuant to Section 7 below, each the Pledgor shall be permitted to receive all cash dividends and interest payments paid in the normal course of business of the Issuers and consistent with past practice, to the extent permitted in the Credit Agreement, issuer in respect of the Pledged Collateral (subject to application of such amounts to the Obligations as required by the Credit Agreement) and to exercise all voting, corporate (with respect to stock), and member (with respect to LLC interests) rights with respect to the Pledged Collateral; provided, however, that no vote shall be cast or corporate or member right exercised or other action taken which would impair materially and adversely affect the rights the Lender in respect of such Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Notes, this Pledge Agreement or the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Jefferies Group Inc /De/)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Lender Trustee shall have given notice to the Pledgors any Pledgor of the Lender’s Trustee's intent to exercise its corresponding rights pursuant to Section 7 below, each such Pledgor shall be permitted to receive all cash dividends in respect of the Pledged Stock and all payments in respect of the Pledged Notes, in each case (a) paid in the normal course of business of the Issuers each Issuer and (b) consistent with past practice, to the extent permitted in by the Credit AgreementIndenture, in respect of the Pledged Collateral and to exercise all voting, voting and corporate (with respect to stock), and member (with respect to LLC interests) rights with respect to the Pledged CollateralSecurities; provided, however, that no vote shall be cast or corporate or member right exercised or other action taken which which, in the Trustee's reasonable judgment, would impair the Pledged Collateral or which would be inconsistent with or result in any violation of any provision of the Credit this Agreement, the Notes, this Pledge Agreement Indenture or the other Loan Documentsany Security Document.

Appears in 1 contract

Samples: Indenture (Mounger Corp)

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