Right to Receive Distributions. The Administrative Agent shall have the right, at any time following the occurrence and during the continuation of an Event of Default, to receive all payments and distributions made to Pledgor upon or with respect to the Collateral and Pledgor agrees to take all such action as the Administrative Agent may reasonably deem necessary or appropriate to give effect to such right.
Right to Receive Distributions on Pledged Collateral; ----------------------------------------------------- Voting.
(a) So long as no Event of Default shall have occurred and be ------ continuing:
(i) Each Grantor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Interests or any part thereof for any purpose permitted by the terms of this Agreement and the Credit Agreement.
(ii) Each Grantor shall be entitled to receive and retain any and all dividends, interest and principal paid in cash on the Pledged Securities to the extent and only to the extent that such cash dividends, interest and principal are permitted by, and otherwise paid in accordance with, the terms and conditions of the Credit Agreement and applicable laws. Other than pursuant to the first sentence of this paragraph (a)(ii), all principal, all noncash dividends, interest and principal, and all dividends, interest and principal paid or payable in cash or otherwise in connection with a partial or total liquidation or dissolution, return of capital, capital surplus or paid-in surplus, and all other distributions made on or in respect of Pledged Securities, whether paid or payable in cash or otherwise, whether resulting from a subdivision, combination or reclassification of the outstanding Capital Stock of the issuer of any Pledged Securities or received in exchange for Pledged Securities or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Collateral, and, if received by a Grantor, shall not be commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Agent and shall be forthwith delivered to the Agent in the form in which received (with any necessary endorsement).
(iii) The Agent shall execute and deliver (or cause to be executed and delivered) to each Grantor all such proxies, powers of attorney, consents, ratifications and waivers and other instruments as each Grantor may reasonably request for the purpose of enabling each Grantor to exercise the voting and other rights which it is entitled to exercise pursuant to paragraph (i) above and to receive the dividends or interest payments which it is authorized to receive and retain pursuant to paragraph (ii) above.
(b) Upon the occurrence and during the continuance...
Right to Receive Distributions on Pledged Collateral; Voting Section 5.02 Exercise of Voting Rights upon Event of Default ARTICLE VI GENERAL AUTHORITY; REMEDIES Section 6.01 General Authority Section 6.02 UCC Rights Section 6.03 Application of Cash; Sale of Pledged Collateral. Section 6.04 Rights of Purchasers Section 6.05
Right to Receive Distributions. If a default of any Obligation shall have occurred and be continuing under this Agreement or the Loan Agreement, Lender shall have the right to receive all payments and distributions made upon or with respect to the Collateral, and Pledgor agrees to take all such action as Lender may deem necessary or appropriate to give effect to such right.
Right to Receive Distributions. Subject to the applicable ------------------------------ Investor Unit Right Designation, each Investor shall receive a pro rata share of Distributions under Article 5 hereof in an amount equal to the Distributions such Investor would have received if such Investor held one Partnership Unit (bearing the same designations as the actual Investor Unit Right held by such Investor) for each of such Investor's Investor Unit Rights. Subject to the applicable Investor Unit Right Designation, each Investor shall receive a pro rata share of Distributions under Article 5 hereof in an amount equal to the distributions such Investor would have received if such Investor held one REIT Share (bearing the same designations as the actual Investor Unit Right held by such Investor) for each of such Investor's Investor Unit Rights.
Right to Receive Distributions. If a Transferring Shareholder, Defaulting Shareholder or Remaining Shareholder (as the case may be) fails or refuses to comply with its obligations to transfer Relevant Shares under Clauses 19 (Transfers), 20 (Default) or 21 (Deadlock) inclusive on or before the Transfer Date then, with effect from the date on which the failure or refusal first occurred until the completion of the transfer of Shares, such Shareholder shall not be entitled to receive any distributions pursuant to Clause 17.2 (Distributions) and the payment of any dividends or other distributions by the Company shall, during such period, cease to be a Shareholder Reserved Matter and, as such, shall no longer require the prior written consent of the Shareholder that has or is failing or refusing to comply with its obligations and shall require only the approval of the other Shareholder.
