Common use of Record Ownership of Securities Clause in Contracts

Record Ownership of Securities. Whether or not a Default has occurred and is continuing, Agent at any time may have the Collateral registered in its name, or in the name of its nominee or nominees, as pledgee; and Agent shall execute and deliver to Borrower all such proxies, powers of attorney, dividend coupons or orders and other documents as Borrower may reasonably request for the purpose of enabling Borrower to exercise the voting rights and powers which it is entitled to exercise hereunder and to receive the dividends and other payments which it is authorized to receive and retain hereunder. Nothing in this Pledge Agreement shall prohibit the issuance of cash dividends by Pledgor if such distribution is permitted under the Credit Agreement.

Record Ownership of Securities. Whether or not a When an Event of Default has occurred and is continuing, Agent Lender at any time may have the Collateral registered in its name, or in the name of its nominee or nominees, as pledgee; and Agent Pledgor shall execute and deliver to Borrower Lender all such proxies, powers of attorney, dividend coupons or orders and other documents as Borrower Lender may reasonably request for the purpose of enabling Borrower Lender to exercise the voting rights and powers which it is entitled to exercise hereunder and to receive the dividends and other payments which it is authorized to receive and retain hereunder. Nothing in this Pledge Agreement shall prohibit the issuance of cash dividends by Pledgor Borrower if such distribution is permitted under the Credit AgreementNote.