RIGHTS OF PLEDGOR; VOTING. (a) During the term of this Agreement, and so long as the Pledgor has not received a Voting Notice (as defined below) from the Agent following (i) the occurrence and during the continuance of an Event of Default, and subject to the terms of the Loan Agreement regarding the exercise of remedies upon an Event of Default, or (ii) from and after such time as the Agent determines that based on all the facts and circumstances then existing, and in the exercise of its commercially reasonable judgment, the Agent believes that Fraud has occurred, the Pledgor shall have the right to vote any of the Pledged Collateral in all corporate matters except those which would contravene this Agreement, the Loan Agreement or any of the agreements, documents and instruments delivered by the Pledgor and each Subsidiary pursuant thereto unless the Agent consents in writing thereto.
Appears in 4 contracts
Samples: Stock Pledge Agreement (Acura Pharmaceuticals, Inc), Stock Pledge Agreement (Acura Pharmaceuticals, Inc), Stock Pledge Agreement (Acura Pharmaceuticals, Inc)
