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Common use of Exercise of Rights in Pledged Collateral Clause in Contracts

Exercise of Rights in Pledged Collateral. (i) Without in any way limiting the foregoing and subject to clause (ii) below, the Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Security Agreement, the Purchase Agreement or any other Transaction Document; provided however, that no vote or other right shall be exercised or action taken which would have the effect of impairing the rights of Agent in respect of such Pledged Collateral. (ii) The Grantor will permit Agent or their nominee at any time after the occurrence and during the continuance of an Event of Default, without notice, to exercise all voting rights or other rights relating to the Pledged Collateral owned by it, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interests or Investment Property constituting such Pledged Collateral as if they were the absolute owner thereof. (iii) So long as no Event of Default shall have occurred and be continuing, the Grantor shall be entitled to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Collateral owned by it to the extent not in violation of the Purchase Agreement; provided however, that until actually paid, all rights to such distributions shall remain subject to the Lien created by this Security Agreement.

Appears in 2 contracts

Samples: Pledge and Security Agreement (CareView Communications Inc), Pledge and Security Agreement (CareView Communications Inc)

Exercise of Rights in Pledged Collateral. (i) Without in any way limiting the foregoing and subject to clause (ii) below, the such Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with in violation of this Security Agreement, the Purchase Agreement or any other Transaction Documentthe Indenture; provided however, that no vote or other right shall be exercised or action taken which would have for the effect purpose of impairing the enforcement rights of the Note Collateral Agent in respect of such Pledged CollateralCollateral except as may be incidental to actions otherwise permitted under such documents. (ii) The Such Grantor will permit the Note Collateral Agent or their its nominee at any time after the occurrence and during the continuance of an Event of Default, without and with prior notice, to exercise all voting rights or other rights relating to the Pledged Collateral owned by it, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interests Interest or Investment Property constituting such Pledged Collateral as if they it were the absolute owner thereof. (iii) So After all Events of Default have been cured or waived in accordance with the provisions of the Indenture, and so long as no Event of Default the Secured Obligations shall not have been and remain accelerated, each Grantor shall have occurred the right to exercise the voting and be continuing, the Grantor shall be other consensual rights and powers that it would have otherwise been entitled to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Collateral owned by it pursuant to the extent not in violation of the Purchase Agreement; provided however, that until actually paid, all rights to such distributions shall remain subject to the Lien created by this Security AgreementSection 4.6.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Westmoreland Energy LLC), Pledge and Security Agreement (WESTMORELAND COAL Co)

Exercise of Rights in Pledged Collateral. (i) Without in any way limiting the foregoing and subject to clause (ii) below, the Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Security Agreement, the Purchase Agreement or any other Transaction Document; provided however, that no vote or other right shall be exercised or action taken which would have the effect of impairing the rights of Agent the Secured Parties in respect of such Pledged Collateral. (ii) The Grantor will permit Agent the Secured Parties or their nominee at any time after the occurrence and during the continuance of an Event of Default, without notice, to exercise all voting rights or other rights relating to the Pledged Collateral owned by it, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interests or Investment Property constituting such Pledged Collateral as if they were the absolute owner thereof. (iii) So long as no Event of Default shall have occurred and be continuing, the Grantor shall be entitled to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Collateral owned by it to the extent not in violation of the Purchase Agreement; provided however, that until actually paid, all rights to such distributions shall remain subject to the Lien created by this Security Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (CareView Communications Inc)

Exercise of Rights in Pledged Collateral. (i) Without in any way limiting the foregoing and subject to clause (ii) below, the such Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Security Agreement, the Purchase Credit Agreement or any other Transaction Loan Document; provided however, that no vote or other right shall be exercised or action taken which would have the effect of impairing the rights of the Administrative Agent in respect of such Pledged Collateral. (ii) The Such Grantor will permit the Administrative Agent or their its nominee at any time after the occurrence and during the continuance of an Event of Default, without notice, to exercise all voting rights or other rights relating to the Pledged Collateral owned by it, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interests Interest or Investment Property constituting such Pledged Collateral as if they it were the absolute owner thereof. (iii) So long as no Event of Default shall have occurred and be continuing, the Such Grantor shall be entitled to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Collateral owned by it to the extent not in violation of the Purchase Credit Agreement; provided however, that until actually paid, all rights to such distributions shall remain subject to the Lien created by this Security AgreementAgreement (except to the extent constituting Excluded Property).

Appears in 1 contract

Samples: Pledge and Security Agreement (Daktronics Inc /Sd/)

Exercise of Rights in Pledged Collateral. (i) Without in any way limiting the foregoing and subject to clause (ii) below, the such Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Security Agreement, the Purchase Credit Agreement or any other Transaction Loan Document; provided however, that no vote or other right shall be exercised or action taken which would have the effect of impairing the rights of the Administrative Agent in respect of such Pledged Collateral. (ii) The Such Grantor will permit the Administrative Agent or their its nominee at any time after the occurrence and during the continuance of an Event of Default, without notice, to exercise all voting rights or other rights relating to the Pledged Collateral owned by it, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interests Interest or Investment Property constituting such Pledged Collateral as if they it were the absolute owner thereof. (iii) So long as no Until the occurrence of an Event of Default shall have occurred and be continuingDefault, the such Grantor shall be entitled to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Collateral owned by it to the extent not in violation of the Purchase Credit Agreement; , provided however, that until actually paid, all rights to such distributions shall remain subject to the Lien created by this Security Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Kelly Services Inc)

Exercise of Rights in Pledged Collateral. (i) Without in any way limiting the foregoing and subject to clause (ii) below, the such Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Security Agreement, the Purchase Credit Agreement or any other Transaction Loan Document; provided however, that no vote or other right shall be exercised or action taken which would have the effect of impairing the rights of the Administrative Agent in respect of such Pledged Collateral, subject to Dispositions permitted under this Agreement. (ii) The Such Grantor will permit the Administrative Agent or their its nominee at any time after the occurrence and during the continuance of an Event of Default, without noticeto, upon notice to such Grantor, exercise all voting rights or other rights relating to the Pledged Collateral owned by it, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interests Interest or Investment Property constituting such Pledged Collateral as if they it were the absolute owner thereof. (iii) So long as no Event of Default shall have occurred and be continuing, the Such Grantor shall be entitled to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Collateral owned by it to the extent not in violation of the Purchase Agreement; provided however, that until actually paid, all rights to such distributions shall remain subject to the Lien created by this Security Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Myriad Genetics Inc)

Exercise of Rights in Pledged Collateral. (i) Without in any way limiting the foregoing and subject to clause (ii) below, the such Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Security Agreement, the Purchase Credit Agreement or any other Transaction Loan Document; provided however, that no vote or other right shall be exercised or action taken which would have the effect of impairing the rights of the Administrative Agent in respect of such Pledged CollateralCollateral in any material respect. (ii) The Such Grantor will permit the Administrative Agent or their its nominee at any time after the occurrence and during the continuance of an Event of Default, without noticeupon notice by the Administrative Agent (to the extent such notice is not prohibited by applicable law), to exercise all voting rights or other rights relating to the Pledged Collateral owned by it, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interests Interest or Investment Property constituting such Pledged Collateral as if they it were the absolute owner thereof. (iii) So long as no Event of Default shall have occurred and be continuing, the Such Grantor shall be entitled to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Collateral owned by it to the extent not in violation of the Purchase Agreement; provided however, that until actually paid, all rights to such distributions shall remain subject to the Lien created by this Security Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Farmer Brothers Co)