Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease. (b) All Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which are received by any Pledgor shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Administrative Agent as Pledged Collateral in the same form as so received (with any necessary indorsement).
Appears in 6 contracts
Samples: Credit Agreement (Cano Petroleum, Inc), Subordinated Credit Agreement (Cano Petroleum, Inc), Pledge Agreement (Cano Petroleum, Inc)
Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and upon the delivery of written notice by the Administrative Agent to any Pledgor, all rights of the Pledgors such Pledgor to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.
(b) All Distributions distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which are received by any Pledgor shall be received in trust for the benefit of the Administrative AgentAgent and, after written notice has been delivered by the Administrative Agent to the Pledgors, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Administrative Agent as Pledged Collateral in the same form as so received (with any necessary indorsement).
Appears in 3 contracts
Samples: Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.)
Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor elects, and all rights of the Pledgors such Pledgor to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b2.04(a) shall cease.
(b) All Distributions distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which are received by any Pledgor shall be received in trust for the benefit of the Administrative Agent, Agent and shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Administrative Agent as Pledged Collateral in the same form as so received (with any necessary indorsement).
Appears in 3 contracts
Samples: Credit Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp), Pledge Agreement (Berry Petroleum Corp)
Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent Collateral Trustee if the Administrative Agent Collateral Trustee so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.
(b) All Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which are received by any Pledgor shall be received in trust for the benefit of the Administrative AgentCollateral Trustee, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Administrative Agent Collateral Trustee as Pledged Collateral in the same form as so received (with any necessary indorsement).
Appears in 3 contracts
Samples: Subordinated Credit Agreement (Cano Petroleum, Inc), Credit Agreement (Cano Petroleum, Inc), Pledge Agreement (Cano Petroleum, Inc)
Dividends and Other Rights. (ai) All rights of the Pledgors each Pledgor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a2(d)(i) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and such Pledgor, all rights of the Pledgors each Pledgor to receive any Distributions the dividends and other distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b2(d)(ii) shall ceasecease at such time as such written notice is deemed effective pursuant to the provisions of the Credit Agreement related to effectiveness of notices.
(bii) All Distributions dividends and other distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which that are thereafter received by any Pledgor shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Administrative Agent as Pledged Collateral in the same form as so received (with any necessary indorsementendorsement).
Appears in 2 contracts
Samples: Credit Agreement (MxEnergy Holdings Inc), Pledge Agreement (Total Gas & Electricity (PA) Inc)
Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a2.04(a)(ii) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any dividends or Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b2.04(a)(i) shall cease.
(b) All dividends and Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which are received by any Pledgor shall be (i) received in trust for the benefit of the Administrative Agent, shall be (ii) segregated from other funds of such Pledgor, and shall be (iii) promptly paid over to the Administrative Agent as Pledged Collateral in the same form as so received (with any necessary indorsementendorsements).
Appears in 2 contracts
Samples: Pledge and Security Agreement (CorEnergy Infrastructure Trust, Inc.), Pledge and Security Agreement (CorEnergy Infrastructure Trust, Inc.)