Common use of Dividends and Other Rights Clause in Contracts

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) of this Pledge Agreement may be exercised by the Secured Party if the Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive 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(b) of this Pledge Agreement shall cease. (b) All dividends and other 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 Secured Party, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Secured Party as Pledged Collateral in the same form as so received (with any necessary indorsement).

Appears in 4 contracts

Samples: Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Inc)

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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) of this Pledge Agreement may be exercised by the Secured Party if the Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive the dividends and other distributions 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) of this Pledge Agreement shall cease. (b) All dividends and other 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 Secured Party, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Secured Party as Pledged Collateral in the same form as so received (with any necessary indorsement).

Appears in 3 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Pledge Agreement (Holly Energy Partners Lp), Pledge Agreement (Holly Energy Partners Lp)

Dividends and Other Rights. (a) All rights of the Pledgors Pledgor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) of this Pledge Agreement may be exercised by the Secured Party if the Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors Pledgor to receive the dividends and other distributions on or in respect of the Pledged Collateral Shares and the proceeds of sale of the Pledged Collateral Shares and interest and principal payments paid in respect of the Pledged Debt which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b2.04(c) of this Pledge Agreement shall cease. (b) All dividends and other distributions on or in respect of the Pledged Collateral Shares and the proceeds of sale of the Pledged Collateral Shares and interest and principal payments paid in respect of the Pledged Debt which are received by any the Pledgor shall be received in trust for the benefit of the Secured Party, shall be segregated from other funds of such the Pledgor, and shall be promptly paid over to the Secured Party as Pledged Collateral in the same form as so received (with any necessary indorsement); provided, however, that if such Event of Default is cured, any such dividend or distribution paid to the Secured Party prior to that cure shall, upon request of the Pledgor, be returned by the Secured Party to the Pledgor.

Appears in 2 contracts

Samples: Credit Agreement (Global Industries LTD), Credit Agreement (Global Industries LTD)

Dividends and Other Rights. (ai) All rights of the Pledgors 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) of this Pledge Agreement may be exercised by the Secured Party if the Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors Pledgor to receive 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 cease at such time as such written notice is deemed effective pursuant to the provisions of this Pledge the Credit Agreement shall ceaserelated to effectiveness of notices. (bii) All 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 Secured Party, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Secured Party as Pledged Collateral in the same form as so received (with any necessary indorsement).

Appears in 2 contracts

Samples: Credit Agreement (Brigham Exploration Co), Credit Agreement (Brigham Exploration Co)

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) of this Pledge Agreement may be exercised by the Secured Party if the Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive the dividends and other distributions 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) of this Pledge Agreement shall cease. (b) . All dividends and other 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 Secured Party, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Secured Party as Pledged Collateral in the same form as so received (with any necessary indorsement).

Appears in 2 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

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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) of this Pledge Agreement may be exercised by the Secured Party if the Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive the dividends and other distributions any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which that it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) of this Pledge Agreement shall cease. (b) All dividends and other 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 Secured Party, shall be segregated from other funds of such Pledgor, and shall be promptly paid over to the Secured Party as Pledged Collateral in the same form as so received (with any necessary indorsement).

Appears in 2 contracts

Samples: Credit Agreement (Isramco Inc), Credit Agreement (Callon Petroleum Co)

Dividends and Other Rights. (a) All rights of the Pledgors Pledgor to exercise the voting and other consensual rights which it they would otherwise be entitled to exercise pursuant to Section 2.04(a2.4(b) of this Pledge Agreement may be exercised by the Secured Party if the Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors Pledgor to receive the dividends and other distributions on or in respect of the Pledged Collateral Shares and the proceeds of sale of the Pledged Collateral Shares and interest and principal payments which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b2.4(a) of this Pledge Agreement shall cease. (b) All dividends and other distributions on or in respect of the Pledged Collateral Shares and the proceeds of sale of the Pledged Collateral Shares and interest and principal payments which are received by any the Pledgor shall be received in trust for the benefit of the Secured Party, shall be segregated from other funds of such the Pledgor, and shall be promptly paid over to the Secured Party as Pledged Collateral in the same form as so received (with any necessary indorsement).

Appears in 1 contract

Samples: Credit Agreement (American General Hospitality Corp)

Dividends and Other Rights. (a) All rights of the Pledgors Pledgor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a2.04(b) of this Pledge Agreement may be exercised by the Secured Party if the Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors Pledgor to receive the dividends and other distributions on or in respect of the Pledged Ownership Interests Collateral and the proceeds of sale of the Pledged Ownership Interests Collateral and principal and interest payments which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b2.04(a) of this Pledge Agreement shall cease. (b) All dividends and other distributions on or in respect of the Pledged Ownership Interests Collateral and the proceeds of sale of the Pledged Collateral and interest and principal payments which are received by any the Pledgor shall be received in trust for the benefit of the Secured Party, shall be segregated from other funds of such the Pledgor, and shall be promptly paid over to the Secured Party as Pledged Collateral in the same form as so received (with any necessary indorsementendorsement).

Appears in 1 contract

Samples: Security Agreement (Interstate Hotels & Resorts Inc)

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