Common use of Rights of the Obligor Clause in Contracts

Rights of the Obligor. (1) Until the occurrence of an Event of Default which is continuing, the Obligor is entitled to (i) vote the Securities that are part of the Collateral provided that, the Obligor shall not be entitled to vote, or otherwise permit or agree to any (a) variation of any rights attaching to or conferred by any of the Securities, (b) increase the issued capital of the entity whose securities are pledged hereunder, which in either case for (a) and (b) above, would, in the reasonable opinion of the Security Agent, prejudice the ability of the Security Agent or the Finance Parties to enforce the Security Interest, and (ii) to receive all dividends and distributions on such Securities. In order to allow the Obligor to vote any Securities registered in the Security Agent’s name or the name of its nominee, at the request and the expense of the Obligor, the Security Agent will, prior to the Security Interest being enforceable, and may, after the Security Interest is enforceable, execute valid proxies appointing proxyholders to attend and act at meetings of shareholders, and execute resolutions in writing, all pursuant to the relevant provisions of the issuer’s governing legislation. Upon the occurrence and during the continuance of an Event of Default, all rights of the Obligor to vote (under any proxy given by the Security Agent (or its nominee) or otherwise) or to receive distributions or dividends cease and all such rights become vested solely and absolutely in the Security Agent. (2) Any distributions or dividends received by the Obligor contrary to Section 2.7(1) or any other moneys or property received by the Obligor after the Security Interest is enforceable will be received as trustee for the Security Agent and the Finance Parties and shall be immediately paid over to the Security Agent.

Rights of the Obligor. (1) Until the occurrence of an Event of Default which is continuing, the Obligor is entitled to (i) vote the Securities that are part of the Collateral provided thatSecurity Interest has become enforceable, the Obligor shall not be entitled to vote, or otherwise permit or agree to any (a) variation of any rights attaching to or conferred by any of vote the Securities, (b) increase the issued capital of the entity whose securities are pledged hereunder, which in either case for (a) Securities and (b) above, would, in the reasonable opinion of the Security Agent, prejudice the ability of the Security Agent or the Finance Parties to enforce the Security Interest, and (ii) to receive all dividends and distributions on such Securitiescash dividends. In order to allow the Obligor to vote any Securities registered in the Security Agent’s name or Securities, the name of its nomineeCollateral Agent shall from time to time, at the request and the expense of the Obligor, the Security Agent will, prior to the Security Interest being enforceable, and may, after the Security Interest is enforceable, (i) execute valid proxies appointing proxyholders to attend and act at meetings of shareholders, and (ii) execute resolutions in writing, all pursuant to the relevant provisions of the issuer’s 's governing legislation. Upon Whenever the occurrence and during the continuance of an Event of DefaultSecurity Interest has become enforceable, all rights of the Obligor to vote (under any proxy given by the Security Collateral Agent (or its nominee) in connection herewith or otherwise) or to receive distributions or dividends shall cease and all such rights shall become vested solely and absolutely in the Security Collateral Agent. (2) Any distributions or dividends received by the Obligor contrary to Section 2.7(1) or any other moneys or property which may be received by the Obligor after the Security Interest is has become enforceable will for, or in respect of, the Collateral shall be received as trustee for the Security Collateral Agent and the Finance Parties Secured Creditors and shall be immediately paid over to the Security Collateral Agent. (3) For greater certainty, the Securities and Instruments shall include any substitutions therefor, additions thereto or proceeds thereof and all interests, rights and claims of the Obligor in respect thereof, arising out of any consolidation, subdivision, reclassification, stock dividend or similar increase or decrease in or alteration of the capital of the issuer of the Securities and Instruments or any other event and all interest, dividends, cash, options, warrants, rights, instruments and other property and monies now or hereafter received, distributed or declared in respect of or in exchange for such Securities and Instruments and all other rights, interests and claims of the Obligor in respect of such Securities and Instruments or evidenced thereby. ARTICLE3 ENFORCEMENT

Rights of the Obligor. (1) Until the occurrence of an Event of Default which is continuing, the Obligor is entitled to (i) vote the Securities that are part of the Collateral provided thatSecurity Interest has become enforceable, the Obligor shall not be entitled to vote, or otherwise permit or agree to any (a) variation of any rights attaching to or conferred by any of vote the Securities, (b) increase the issued capital of the entity whose securities are pledged hereunder, which in either case for (a) Securities and (b) above, would, in the reasonable opinion of the Security Agent, prejudice the ability of the Security Agent or the Finance Parties to enforce the Security Interest, and (ii) to receive all dividends and distributions on such Securitiescash dividends. In order to allow the Obligor to vote any Securities registered in the Security Agent’s name or Securities, the name of its nomineeCollateral Agent shall from time to time, at the request and the expense of the Obligor, the Security Agent will, prior to the Security Interest being enforceable, and may, after the Security Interest is enforceable, (i) execute valid proxies appointing proxyholders to attend and act at meetings of shareholders, and (ii) execute resolutions in writing, all pursuant to the relevant provisions of the issuer’s 's governing legislation. Upon Whenever the occurrence and during the continuance of an Event of DefaultSecurity Interest has become enforceable, all rights of the Obligor to vote (under any proxy given by the Security Collateral Agent (or its nominee) in connection herewith or otherwise) or to receive distributions or dividends shall cease and all such rights shall become vested solely and absolutely in the Security Collateral Agent. (2) Any distributions or dividends received by the Obligor contrary to Section 2.7(1) or any other moneys or property which may be received by the Obligor after the Security Interest is has become enforceable will for, or in respect of, the Collateral shall be received as trustee for the Security Collateral Agent and the Finance Parties Secured Creditors and shall be immediately paid over to the Security Collateral Agent. (3) For greater certainty, the Securities and Instruments shall include any substitutions therefor, additions thereto or proceeds thereof and all interests, rights and claims of the Obligor in respect thereof, arising out of any consolidation, subdivision, reclassification, stock dividend or similar increase or decrease in or alteration of the capital of the issuer of the Securities and Instruments or any other event and all interest, dividends, cash, options, warrants, rights, instruments and other property and monies now or hereafter received, distributed or declared in respect of or in exchange for such Securities and Instruments and all other rights, interests and claims of the Obligor in respect of such Securities and Instruments or evidenced thereby.