Common use of Income and Voting Rights in Collateral Clause in Contracts

Income and Voting Rights in Collateral. (a) Secured Party shall have the right to receive and retain as Collateral hereunder all proceeds of the Collateral (excluding Ordinary Cash Dividends but including, without limitation, Extraordinary Cash Dividends or interest), and Pledgor shall take all such action as Secured Party shall deem necessary or appropriate to give effect to such right. All such proceeds that are received by Pledgor shall be received in trust for the benefit of Secured Party and, if Secured Party so directs, shall be segregated from other funds of Pledgor and shall, forthwith upon demand by Secured Party, be delivered over to the Custodian on behalf of Secured Party as Collateral in the same form as received (with any necessary endorsement).

Appears in 13 contracts

Samples: Sails Pledge Agreement (Gaylord Entertainment Co /De), Pledge Agreement (Mafco Holdings Inc), Sails Pledge Agreement (Mafco Holdings Inc)

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Income and Voting Rights in Collateral. (a) Secured Party shall have the right to receive and retain as Collateral hereunder all proceeds of the Collateral (excluding Ordinary Cash Dividends but including, without limitation, Extraordinary Cash Dividends ordinary cash dividends or interest)) of the Collateral, and Pledgor shall take all such action as Secured Party shall deem reasonably necessary or appropriate to give effect to such right. All such proceeds that are received by Pledgor shall be received in trust for the benefit of Secured Party and, if Secured Party so directs, shall be segregated from other funds of Pledgor and shall, forthwith upon demand by Secured Party, be delivered over to the Custodian on behalf of Secured Party as Collateral in the same form as received (with any necessary endorsement).

Appears in 7 contracts

Samples: Pledge Agreement (Zwan Bryan J), Pledge Agreement (Zwan Bryan J), Pledge Agreement (Zwan Bryan J)

Income and Voting Rights in Collateral. (a) The Secured Party shall have the right to receive and retain as Collateral hereunder all proceeds of the Collateral (excluding Ordinary Cash Dividends but including, without limitation, Extraordinary Cash Dividends or interest), and Pledgor shall take all such action as the Secured Party shall deem necessary or appropriate to give effect to such right. All such proceeds proceeds, including, without limitation, all dividends and other payments and distributions that are received by Pledgor Pledgor, shall be received in trust for the benefit of the Secured Party and, if the Secured Party so directs, directs shall be segregated from other funds of Pledgor and shall, forthwith upon demand by the Secured Party, Party be delivered paid over to the Custodian on behalf of Secured Party as Collateral in the same form as received (with any necessary endorsement).

Appears in 2 contracts

Samples: Pledge Agreement (Goldfield International Investments Ltd.), Pledge Agreement (Sino Gas International Holdings, Inc.)

Income and Voting Rights in Collateral. (a) Secured Party shall have the right to receive and retain as Collateral hereunder all proceeds of the Collateral (excluding Ordinary Cash Dividends but including, without limitation, Extraordinary Cash Dividends or interest), and Pledgor shall take all such action as Secured Party shall deem necessary or appropriate to give effect to such right. All such proceeds that are received by Pledgor shall be received in trust for the benefit of Secured Party and, if Secured Party so directs, shall be segregated from other funds of Pledgor and shall, forthwith upon demand by Secured Party, be delivered over to the Custodian on behalf of Secured Party as Collateral in the same form as received (with any necessary endorsement).

Appears in 2 contracts

Samples: Pledge Agreement (Mafco Holdings Inc), Pledge Agreement (Mafco Holdings Inc)

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Income and Voting Rights in Collateral. (a) Pledgor shall have the right to receive dividends on and distributions from the Collateral to the extent such dividends and distributions consist solely of cash ("ORDINARY DIVIDENDS"). Secured Party shall have the right to receive and retain as Collateral hereunder all proceeds (other than Ordinary Dividends) of the Collateral (excluding Ordinary Cash Dividends but including, without limitation, Extraordinary Cash Dividends or interest)Collateral, and Pledgor shall take all such action as Secured Party shall deem necessary or appropriate to give effect to such right. All such proceeds that are received by Pledgor shall be received in trust for the benefit of Secured Party and, if Secured Party so directs, shall be segregated from other funds assets of Pledgor and shall, forthwith upon demand by Secured Party, be delivered over to the Custodian on behalf of Secured Party as Collateral in the same form as received (with any necessary endorsement).

Appears in 2 contracts

Samples: Note Purchase Agreement (Fairfax Financial Holdings LTD/ Can), Pledge Agreement (Fairfax Financial Holdings LTD/ Can)

Income and Voting Rights in Collateral. (a) Secured Party shall have the right to receive and retain as Collateral hereunder all proceeds of the Collateral (excluding Ordinary Cash Dividends but including, without limitation, Extraordinary Cash Dividends ordinary cash dividends or interest)) of the Collateral, and Pledgor shall take all such action as Secured Party shall deem necessary or appropriate to give effect to such right. All such proceeds that are received by Pledgor shall be received in trust for the benefit of Secured Party and, if Secured Party so directs, shall be segregated from other funds of Pledgor and shall, forthwith upon demand by Secured Party, be delivered over to the Custodian on behalf of Secured Party as Collateral in the same form as received (with any necessary endorsement).

Appears in 2 contracts

Samples: Pledge Agreement (Welsh Carson Anderson Stowe Viii Lp), Pledge Agreement (Welsh Carson Anderson Stowe Viii Lp)

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