Common use of PLEDGOR'S RIGHTS PRIOR TO DEFAULT Clause in Contracts

PLEDGOR'S RIGHTS PRIOR TO DEFAULT. So long as no default has occurred and is continuing, Pledgor shall be entitled: (a) to exercise any voting power with respect to the Pledged Securities; provided that Pledgor agrees that it will not exercise any such power in any manner which could have a material adverse effect on the value of the Collateral or any part thereof; and 128 (b) to receive and retain for its own account any and all interest payments, distributions or dividends (other than redemption payments or stock or liquidating distributions or dividends) at any time and from to time declared or paid upon any of the Pledged Securities.

PLEDGOR'S RIGHTS PRIOR TO DEFAULT. So long as no default has occurred and is continuing, Pledgor shall be entitled: (a) to exercise any voting power with respect to the Pledged Securities; provided that Pledgor agrees that it will not exercise any such power in any manner which could have a material adverse effect on the value of the Collateral or any part thereof; and 128and (b) to receive and retain for its own account any and all interest payments, distributions or dividends (other than redemption payments or stock or liquidating distributions or dividends) at any time and from to time declared or paid upon any of the Pledged Securities.. 118