Dividends; Voting Rights. Unless a Notice of an Actionable Event shall have been given and remains outstanding and the Controlling Collateral Agent shall have given notice to the Pledgor of the Controlling Collateral Agent's intent to exercise its corresponding rights pursuant to paragraph 7 (except in the case of a Bankruptcy Event of Default, in which case no such notice shall be required), the Pledgor shall be permitted to receive all dividends (whether in cash or evidenced by a note or chattel paper but other than stock dividends) free of the Lien created by this Pledge Agreement, to the extent that such dividends are permitted under the Indenture, in respect of the Pledged Stock and to exercise all voting and corporate rights with respect to the Pledged Stock; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Controlling Collateral Agent's reasonable judgment, would impair the Collateral or which would be inconsistent with or result in any violation of any provision of this Pledge Agreement or the Indenture.
Appears in 9 contracts
Samples: Pledge and Security Agreement (Revlon Consumer Products Corp), Pledge and Security Agreement (Revlon Consumer Products Corp), Pledge and Security Agreement (Revlon Consumer Products Corp)
