Common use of Rights of Pledgee Clause in Contracts

Rights of Pledgee. If a Triggering Event shall have occurred, (a) any of or all the Pledged Stock included in the Collateral may, without notice, be registered in the name of Pledgee or its nominee and Pledgee shall have the right to exchange certificates or instruments representing or evidencing the Pledged Stock included in the Collateral for certificates or instruments of smaller or larger denominations, (b) Pledgee may collect and receive all cash dividends and other distributions made thereon, and (c) Pledgee or its nominee may thereafter, after notice to Pledgor, exercise all voting and corporate rights at any meeting of any corporation or other entity issuing any of the Pledged Stock and give consents, waivers and ratification in respect of the Pledged Stock, in each case as if it were the sole and absolute owner thereof.