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, each Obligor, as applicable, is entitled to vote the Securities that are part of the Collateral and to receive dividends and distributions on such Securities, as may be permitted by the Credit Agreement. Upon the occurrence and during the continuance of an Event of Default, all rights of the Obligors to vote (under any proxy given by the Collateral Agent (or its nominee) or otherwise) or to receive distributions or dividends cease and all such rights become vested solely and absolutely in the Collateral Agent.

Rights of the Obligor. (1) Until the occurrence of an Event of Default which is continuing, each Obligor, as applicable, the Obligor is entitled to vote the Securities and other financial assets that are part of the Collateral and to receive all dividends and distributions on such Securities, as may be permitted by the Credit AgreementSecurities and financial assets. Upon the occurrence and during the continuance of an Event of Default, all rights of the Obligors Obligor to vote (under any proxy given by the Collateral Agent (or its nominee) or otherwise) or to receive distributions or dividends cease and all such rights become vested solely and absolutely in the Collateral Agent.