Common use of Dividends; Voting Rights in Respect of the Pledged Collateral Clause in Contracts

Dividends; Voting Rights in Respect of the Pledged Collateral. So long as no Event of Default shall occur and be continuing under the Purchase Agreement, Debtor may exercise any and all voting and other consensual rights pertaining to the Pledged Collateral or any part thereof for any purpose not inconsistent with the terms of this Agreement, the Purchase Agreement, the Promissory Note or Other Documents; provided, however, that Debtor will not exercise or will refrain from exercising any such right, as the case may be, if such action would be inconsistent with the covenants and obligations of Debtor under the Purchase Agreement and the Other Documents or would have a material adverse effect on the value of any Pledged Collateral. So long as no Event of Default has occurred and is continuing, any lawful dividends paid in cash to Debtor in respect of the Pledged Collateral may be used or applied by Debtor for any purpose permitted by the Purchase Agreement.

Appears in 2 contracts

Samples: Asset Purchase Agreement (VDC Corp LTD), Asset Purchase Agreement (VDC Corp LTD)

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Dividends; Voting Rights in Respect of the Pledged Collateral. So long as no Event of Default shall occur and be continuing under any of the Purchase AgreementLoan Documents, each Debtor may exercise any and all voting and other consensual rights pertaining to the Pledged Collateral owned by such Debtor or any part thereof for any purpose not inconsistent with the terms of this Agreement, Agreement or the Purchase Agreement, the Promissory Note or Other other Loan Documents; provided, however, that such Debtor will -------- ------- not exercise or will refrain from exercising any such right, as the case may be, if such action would be inconsistent with the covenants and obligations of Debtor Debtors under the Purchase Agreement Credit Agreements and the Other other Loan Documents or would have a material adverse effect on the value of any Pledged Collateral. So long as no Event of Default has occurred and is continuing, any lawful dividends paid in cash to a Debtor in respect of the Pledged Collateral may be used or applied by such Debtor for any purpose permitted by the Purchase AgreementCredit Agreements.

Appears in 1 contract

Samples: Pledge Agreement (Mariner Post Acute Network Inc)

Dividends; Voting Rights in Respect of the Pledged Collateral. So long as no Event of Default shall occur and be continuing under the Purchase Loan Agreement, Debtor may exercise any and all voting and other consensual rights pertaining to the Pledged Collateral or any part thereof for any purpose not inconsistent with the terms of this Agreement, the Purchase Loan Agreement, the Promissory Note Notes or Other Documents; provided, however, that Debtor will not exercise or will -------- ------- refrain from exercising any such right, as the case may be, if such action would be inconsistent with the covenants and obligations of Debtor under the Purchase Loan Agreement and the Other Documents or would have a material adverse effect on the value of any Pledged Collateral. So long as no Event of Default has occurred and is continuing, any lawful dividends paid in cash to Debtor in respect of the Pledged Collateral may be used or applied by Debtor for any purpose permitted by the Purchase Loan Agreement.

Appears in 1 contract

Samples: Pledge Agreement (Portacom Wireless Inc/)

Dividends; Voting Rights in Respect of the Pledged Collateral. So long as no Event of Default shall occur and be continuing under the Purchase Loan Agreement, Debtor may exercise any and all voting and other consensual rights pertaining to the Pledged Collateral or any part thereof for any purpose not inconsistent with the terms of this Agreement, the Purchase Loan Agreement, the Promissory Note Notes or Other Documents; provided, however, that Debtor will not exercise or will refrain from exercising any such right, as the case may be, if such action would be inconsistent with the covenants and obligations of Debtor under the Purchase Loan Agreement and the Other Documents or would have a material adverse effect on the value of any Pledged Collateral. So long as no Event of Default has occurred and is continuing, any lawful dividends paid in cash to Debtor in respect of the Pledged Collateral may be used or applied by Debtor for any purpose permitted by the Purchase Loan Agreement.

Appears in 1 contract

Samples: Pledge Agreement (VDC Corp LTD)

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Dividends; Voting Rights in Respect of the Pledged Collateral. So long as no Event of Default shall occur and be continuing under any of the Purchase AgreementLoan Documents, Debtor may exercise any and all voting and other consensual rights pertaining to the Pledged Collateral owned by Debtor or any part thereof for any purpose not inconsistent with the terms of this Agreement, Agreement or the Purchase Agreement, the Promissory Note or Other other Loan Documents; provided, however, that Debtor will not exercise -------- ------- or will refrain from exercising any such right, as the case may be, if such action would be inconsistent with the covenants and obligations of Debtor under the Purchase Agreement Credit Agreements and the Other other Loan Documents or would have a material adverse effect on the value of any Pledged Collateral. So long as no Event of Default has occurred and is continuing, any lawful dividends paid in cash to a Debtor in respect of the Pledged Collateral may be used or applied by Debtor for any purpose permitted by the Purchase AgreementCredit Agreements.

Appears in 1 contract

Samples: Pledge Agreement (Mariner Post Acute Network Inc)

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