Right to Vote Securities. (a) Unless an Event of Default shall have occurred and be continuing, the Collateral Agent agrees that, notwithstanding Section 2, each Lien Grantor will have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to any Pledged Equity Interest owned by it. Unless an Event of Default shall have occurred and be continuing, the Collateral Agent will have no right to take any action which the owner of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest is entitled to take with respect thereto, except the right to receive payment and other distributions to the extent provided herein. (b) If an Event of Default shall have occurred and be continuing, the Collateral Agent will have the right to the extent permitted by law (and, in the case of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest, by the relevant partnership agreement, limited liability company agreement, operating agreement or other governing document) to vote, to give consents, ratifications and waivers and to take any other action with respect to Pledged Equity Interests, with the same force and effect as if the Collateral Agent were the absolute and sole owner thereof, and each Lien Grantor will take all such action as the Collateral Agent may reasonably request from time to time to give effect to such right.
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Samples: Foreign Pledge Agreement (Nortel Networks Corp), Foreign Pledge Agreement (Nortel Networks LTD)
Right to Vote Securities. (a) Unless an Event of Default shall have occurred and be continuing, the Collateral Agent agrees that, notwithstanding Section 2, each Lien Grantor will have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to any Pledged Equity Interest owned by itit and the Collateral Agent will, upon receiving a written request from such Lien Grantor, promptly deliver to such Lien Grantor or as specified in such request such proxies, powers of attorney, consents, ratifications and waivers in respect of any such Pledged Equity Interest that is registered in the name of the Collateral Agent or its nominee, in each case as shall be specified in such request and be in form and substance reasonably satisfactory to the Collateral Agent. Unless an Event of Default shall have occurred and be continuing, the Collateral Agent will have no right to take any action which the owner of a Pledged security, Pledged Partnership Interest or Pledged LLC Equity Interest is entitled to take with respect thereto, except the right to receive payment payments and other distributions to the extent provided herein.
(b) If an Event of Default shall have occurred and be continuing, the Collateral Agent will have the right to the extent permitted by law (and, in the case of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest, by the relevant partnership agreement, limited liability company agreement, operating agreement or other governing document) to vote, to give consents, ratifications and waivers and to take any other action with respect to the Pledged Equity Interests, with the same force and effect as if the Collateral Agent were the absolute and sole owner thereof, and each Lien Grantor will take all such action as the Collateral Agent may reasonably request from time to time to give effect to such right.
Appears in 2 contracts
Samples: Foreign Pledge Agreement (Nortel Networks Corp), Foreign Pledge Agreement (Nortel Networks LTD)
Right to Vote Securities. (a) Unless an Event of Default shall have occurred and be continuing, the continuing and Collateral Agent agrees that, notwithstanding has provided written notice of its exercise of rights pursuant to Section 212(b) below, each Lien Grantor will have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to any Pledged Equity Interest Security owned by it and the Financial Asset underlying any Pledged Security Entitlement owned by it. Unless an Event of Default shall have occurred and be continuing, the Collateral Agent will have no right to take any action which the owner of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest is entitled to take with respect thereto, except the right to receive payment and other distributions to the extent provided herein.
(b) If an Event of Default shall have occurred and be continuing, then with written notice to the Company, the Collateral Agent will have the exclusive right to to, but not the obligation to, the extent permitted by law (and, in the case of a Pledged securitypartnership interest, Pledged Partnership Interest whether general or limited, or Pledged LLC Interestmembership interest or similar interest in a limited liability company, by the relevant partnership agreement, limited liability company agreement, operating agreement or other governing document) to vote, to give consents, ratifications and waivers and to take any other action with respect to the Pledged Investment Property, the other Pledged Equity InterestsInterests and the Financial Assets underlying the Pledged Security Entitlements, with the same force and effect as if the Collateral Agent were the absolute and sole owner thereof, and each Lien Grantor will take all such action as the Collateral Agent may reasonably request from time to time to give effect to such right.
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Right to Vote Securities. (a) Unless (x) an Event of Default shall have occurred and be continuing, the Collateral Agent agrees that, notwithstanding and (y) all approvals and/or consents required to be obtained prior to restricting a Lien Grantor's ability to vote and give consents and waivers (as described in Section 25) have been granted, each Lien Grantor will have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to any Pledged Security or other Pledged Equity Interest Interests owned by it and the Financial Asset underlying any Pledged Security Entitlement owned by it. Unless .
(b) If (i) an Event of Default shall have occurred and be continuing, (ii) all approvals and/or consents required to be obtained in accordance with Section 5 shall have been granted and (iii) the Collateral Agent will have no right to take any action which the owner of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest is entitled to take with respect thereto, except the right to receive payment and other distributions to the extent provided herein.
(b) If an Event of Default shall have occurred and be continuingnotified the relevant Lien Grantor in writing that such required approvals and/or consents have been granted, the Collateral Agent will have the right to the extent permitted by law (and, in the case of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest, by the relevant partnership agreement, limited liability company agreement, operating agreement or other governing document) to vote, to give consents, ratifications and waivers and to take any other action with respect to the Pledged Investment Property and the other Pledged Equity InterestsInterests (if any), with the same force and effect as if the Collateral Agent were the absolute and sole owner thereof, and each Lien Grantor will take all such action as the Collateral Agent may reasonably request from time to time to give effect to such right.
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Samples: Security and Pledge Agreement (Qwest Communications International Inc)
Right to Vote Securities. (a) Unless an Event of Default shall have occurred and be continuing, the continuing and Collateral Agent agrees that, notwithstanding has provided written notice of its exercise of rights pursuant to Section 212(b) below, each Lien Grantor will have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to any Pledged Equity Interest Security owned by it and the Financial Asset underlying any Pledged Security Entitlement owned by it. Unless an Event of Default shall have occurred and be continuing, the Collateral Agent will have no right to take any action which the owner of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest is entitled to take with respect thereto, except the right to receive payment and other distributions to the extent provided herein.
(b) If an Event of Default shall have occurred and be continuing, then with written notice to the Company, the Collateral Agent will have the exclusive right to to, but not the obligation to, the extent permitted by law and the Intercreditor Agreements (and, in the case of a Pledged securitypartnership interest, Pledged Partnership Interest whether general or limited, or Pledged LLC Interestmembership interest or similar interest in a limited liability company, by the relevant partnership agreement, limited liability company agreement, operating agreement or other governing document) to vote, to give consents, ratifications and waivers and to take any other action with respect to the Pledged Investment Property, the other Pledged Equity InterestsInterests and the Financial Assets underlying the Pledged Security Entitlements, with the same force and effect as if the Collateral Agent were the absolute and sole owner thereof, and each Lien Grantor will take all such action as the Collateral Agent may reasonably request from time to time to give effect to such right.
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Right to Vote Securities. (a) Unless an Event of Default shall have occurred and be continuing, Enforcement Notice directing the Collateral Agent agrees that, notwithstanding Section 2to vote the Pledged Securities is in effect, each Lien Grantor will have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to any Pledged Equity Interest Security owned by it and the Financial Asset underlying any Pledged Security Entitlement owned by it, and the Collateral Agent will, upon receiving a written request from such Lien Grantor, deliver to such Lien Grantor or as specified in such request such proxies, powers of attorney, consents, ratifications and waivers in respect of any such Pledged Security that is registered in the name of the Collateral Agent or its nominee or any such Pledged Security Entitlement as to which the Collateral Agent or its nominee is the Entitlement Holder, in each case as shall be specified in such request and be in form and substance satisfactory to the Collateral Agent. Unless an Event of Default shall have occurred and be continuingEnforcement Notice directing the Collateral Agent to do so is in effect, the Collateral Agent will have no right to take any action which the owner of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest is entitled to take with respect thereto, except the right to receive payment payments and other distributions to the extent provided herein.
(b) If an Event of Default shall have occurred and be continuing, the Collateral Agent will have the right to the extent permitted by law (and, in the case of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest, by the relevant partnership agreement, limited liability company agreement, operating agreement or other governing document) to vote, to give consents, ratifications and waivers and to take any other action with respect to Pledged Equity Interests, with the same force and effect as if the Collateral Agent were the absolute and sole owner thereof, and each Lien Grantor will take all such action as the Collateral Agent may reasonably request from time to time to give effect to such right.
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Right to Vote Securities. (a) Unless an Event of Default shall have occurred and be continuing, the Collateral Agent agrees that, notwithstanding Section 2, each Lien Grantor will have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to any Pledged Equity Interest Security owned by it and the Financial Asset underlying any Pledged Security Entitlement owned by it, and the Collateral Agent will, upon receiving a written request from such Lien Grantor, deliver to such Lien Grantor or as specified in such request such proxies, powers of attorney, consents, ratifications and waivers in respect of any such Pledged Security that is registered in the name of the Collateral Agent or its nominee or any such Pledged Security Entitlement as to which the Collateral Agent or its nominee is the Entitlement Holder, in each case as shall be specified in such request and be in form and substance reasonably satisfactory to the Collateral Agent. Unless an Event of Default shall have occurred and be continuing, the Collateral Agent will have no right to take any action which the owner of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest is entitled to take with respect thereto, except the right to receive payment payments and other distributions to the extent provided herein.
(b) If an Event of Default shall have occurred and be continuing, the Collateral Agent will have the right to the extent permitted by law (and, in the case of a Pledged security, Pledged Partnership Interest or Pledged LLC Interest, by the relevant partnership agreement, limited liability company agreement, operating agreement or other governing document) to vote, to give consents, ratifications and waivers and to take any other action with respect to Pledged Equity Interests, with the same force and effect as if the Collateral Agent were the absolute and sole owner thereof, and each Lien Grantor will take all such action as the Collateral Agent may reasonably request from time to time to give effect to such right.
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Samples: Indenture (Cummins Inc)