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.

Appears in 4 contracts

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

AutoNDA by SimpleDocs

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.

Appears in 2 contracts

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

Appears in 1 contract

Samples: Security Agreement (Sprague Resources LP)

AutoNDA by SimpleDocs

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.

Appears in 1 contract

Samples: Pledge Agreement (BlueLinx Holdings Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.