No Right to Receive Distributions Sample Clauses

No Right to Receive Distributions. No Member shall have the right to demand or receive distributions of any amount, except as expressly provided in this Article VI and Section 12.2.
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No Right to Receive Distributions. If an Event of Default exists, all payments and distributions made to Pledgor upon or with respect to the Collateral shall be paid or delivered to Secured Party, and Pledgor agrees to take all such action as Secured Party may reasonably deem necessary or appropriate to cause all such payments and distributions to be made to Secured Party. Further, Secured Party shall have the right, at any time after the occurrence of an Event of Default, to notify and direct the Company to thereafter make all payments, dividends, and any other distributions payable in respect thereof directly to Secured Party. The Company shall be fully protected in relying on the written statement of Secured Party that it then holds a security interest which entitles it to receive such payments and distributions. Any and all money and other property paid over to or received by Secured Party pursuant to this SECTION 5.2 shall be retained by Secured Party as additional collateral hereunder and may be applied (and upon Pledgor's written request all cash shall promptly be applied) in accordance with SECTION 5.6 hereof.
Sample 1Sample 2See All (4)
No Right to Receive Distributions. If an Event of Default exists, all payments and distributions to be made to Pledgor upon or with respect to the Collateral shall be paid or delivered to Pledgee, and Pledgor agrees to take all such action as Pledgee may reasonably deem necessary or appropriate to cause all such payments and distributions to be made to Pledgee. Further, Pledgee shall have the right, at any time after the occurrence of an Event of Default, to notify and direct the Partnership to thereafter make all payments, dividends, and any other distributions payable in respect thereof directly to Pledgee. The Partnership shall be fully protected in relying on the written statement of Pledgee that it then holds a security interest which entitles it to receive such payments and distributions. Any and all money and other property paid over to or received by Pledgee pursuant to this Section 4.2 shall be retained by Pledgee as additional collateral hereunder and may be applied (and upon Pledgor’s written request all cash shall promptly be applied) in accordance with Section 4.6 hereof.
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No Right to Receive Distributions on Pledged Collateral; Voting
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No Right to Receive Distributions. If an Event of Default exists, all payments and distributions made to Pledgor upon or with respect to the Collateral shall be paid or delivered to Lender Representative, and Pledgor agrees to take all such action as Lender Representative may reasonably deem necessary or appropriate to cause all such payments and distributions to be made to Lender Representative. Further, Lender Representative shall have the right, at any time after the occurrence of an Event of Default, to notify and direct the Partnership to thereafter make all payments, dividends, and any other distributions payable in respect thereof directly to Lender Representative. The Partnership shall be fully protected in relying on the written statement of Lender Representative that it then holds a security interest which entitles it to receive such payments and distributions. Any and all money and other property paid over to or received by Lender Representative pursuant to this Section 6.2 shall be retained by Lender Representative as additional collateral hereunder and may be applied (and upon Pledgor’s written request all cash shall promptly be applied) in accordance with Section 6.6 hereof.
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Related to No Right to Receive Distributions

  • No Right to Distributions in Kind No Partner shall be entitled to demand property other than cash in connection with any distributions by the Partnership.

  • No Right to Withdraw Subject to Section 9.3 and Section 9.4, no Member will have any right to voluntarily resign or otherwise withdraw from the Company without the prior written consent of all remaining Members of the Company which consent may be given or withheld in their sole and absolute discretion.

  • No Rights to Service Nothing contained in this Agreement shall be construed as giving Participant any right to be retained, in any position, as an employee, consultant or director of the Company or its Affiliates or shall interfere with or restrict in any way the right of the Company or its Affiliates, which is hereby expressly reserved, to remove, terminate or discharge Participant at any time for any reason whatsoever.

  • Rights of the Holders to Receive Payment Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed or provided for in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder.

  • Right to Receive Advice (a) Advice of the Fund. If PFPC is in doubt as to any action it should or ------------------ should not take, PFPC may request directions or advice, including Oral Instructions or Written Instructions, from the Fund.

  • No Right to Set-Off The Company shall not be entitled to set off against amounts payable to the Executive hereunder any amounts earned by the Executive in other employment, or otherwise, after termination of his employment with the Company, or any amounts which might have been earned by the Executive in other employment had he sought such other employment.

  • No Distributions Make any Distribution except Permitted Distributions.

  • No Right To Holdover Lessee has no right to retain possession of the Premises or any part thereof beyond the expiration or termination of this Lease. In the event that Lessee holds over, then the Base Rent shall be increased to one hundred fifty percent (150%) of the Base Rent applicable during the month immediately preceding the expiration or termination. Nothing contained herein shall be construed as consent by Lessor to any holding over by Lessee.

  • No Right to Employment Any questions as to whether and when there has been a Termination and the cause of such Termination shall be determined in the sole discretion of the Committee. Nothing in this Agreement shall interfere with or limit in any way the right of the Company, its Subsidiaries or its Affiliates to terminate the Participant’s employment or service at any time, for any reason and with or without Cause.

  • Waiver of Right to Receive Fractional Rights or Shares The holder of a Right by the acceptance of the Rights expressly waives his right to receive any fractional Rights or any fractional shares upon exercise or exchange of a Right, except as permitted by this Section 14.

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