Common use of Rights Prior to an Event of Default Clause in Contracts

Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor shall be entitled to receive and retain free and clear of the security interest of Secured Parties hereunder any and all dividends and interest paid in respect of the Pledged Securities, provided, however, that any and all (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for any Pledged Securities, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged Securities, shall be, and shall be forthwith delivered to Secured Parties to hold as, Pledged Collateral and shall, if received by Debtor, be received in trust for the benefit of Secured Parties, be segregated from the other property or funds of Debtor and be forthwith delivered to Secured Parties as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 2 contracts

Samples: Note Purchase Agreement (Wright Investors Service Holdings, Inc.), Stock Pledge Agreement (Merriman Holdings, Inc)

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Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor Employee shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities Shares or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor Employee shall be entitled to receive and retain free and clear of the security interest of Secured Parties the Company hereunder any and all dividends and interest paid in respect of the Pledged SecuritiesShares, provided, however, that any and all (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for any Pledged SecuritiesShares, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities Shares in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged SecuritiesShares, shall be, and shall be forthwith delivered to Secured Parties the Company to hold as, Pledged Collateral and shall, if received by DebtorEmployee, be received in trust for the benefit of Secured Partiesthe Company, be segregated from the other property or funds of Debtor Employee and be forthwith delivered to Secured Parties the Company as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Rational Software Corp)

Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities Collateral (including the Pledged Shares) or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor shall be entitled to receive and retain free and clear of the security interest of Secured Parties Party hereunder any and all dividends and interest paid in respect of the Pledged SecuritiesShares, providedprovided , howeverhowever , that any and all (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for any Pledged SecuritiesShares, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities Shares in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged SecuritiesShares, shall be, and shall be forthwith delivered to Secured Parties Party to hold as, Pledged Collateral and shall, if received by Debtor, be received in trust for the benefit of Secured PartiesParty, be segregated from the other property or funds of Debtor and be forthwith delivered to Secured Parties Party as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 1 contract

Samples: Employee Loan Agreement (Fluidigm Corp)

Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor shall be entitled to receive and retain free and clear of the security interest of Secured Parties hereunder any and all dividends and interest paid in respect of the Pledged Securities, provided, however, that any and all (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for any Pledged Securities, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged Securities, shall be, and shall be forthwith delivered to Secured Parties Collateral Agent to hold as, Pledged Collateral and shall, if received by Debtor, be received in trust for the benefit of Secured PartiesCollateral Agent, be segregated from the other property or funds of Debtor and be forthwith delivered to Secured Parties Collateral Agent as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 1 contract

Samples: Note Purchase Agreement (Satcon Technology Corp)

Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities Collateral (including the Pledged Shares) or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor shall be entitled to receive and retain free and clear of the security interest of Secured Parties Party hereunder any and all dividends and interest paid in respect of the Pledged SecuritiesShares, provided, however, that any and all (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for any Pledged SecuritiesShares, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities Shares in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged SecuritiesShares, shall be, and shall be forthwith delivered to Secured Parties Party to hold as, Pledged Collateral and shall, if received by Debtor, be received in trust for the benefit of Secured PartiesParty, be segregated from the other property or funds of Debtor and be forthwith delivered to Secured Parties Party as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 1 contract

Samples: Employee Loan Agreement (Fluidigm Corp)

Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor Company shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor Company shall be entitled to receive and retain free and clear of the security interest of Secured Parties Purchaser hereunder any and all dividends and interest paid in respect of the Pledged Securities, ; provided, however, that any and all of the following shall delivered to Purchaser to hold as, Pledged Collateral and shall, if received by Company, be received in trust for the benefit of Purchaser, be segregated from the other property or funds of Company and be forthwith delivered to Purchaser as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral: (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for for, any Pledged Securities, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged Securities, shall be, and shall be forthwith delivered to Secured Parties to hold as, Pledged Collateral and shall, if received by Debtor, be received in trust for the benefit of Secured Parties, be segregated from the other property or funds of Debtor and be forthwith delivered to Secured Parties as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 1 contract

Samples: Stock Pledge Agreement (General Finance CORP)

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Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities Collateral or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor shall be entitled to receive and retain free and clear of the security interest of Secured Parties Party hereunder any and all dividends and interest paid in respect of the Pledged SecuritiesCollateral, provided, however, that any and all (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for any Pledged SecuritiesCollateral, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities Collateral in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged SecuritiesCollateral, shall be, and shall be forthwith delivered to Secured Parties Party to hold as, Pledged Collateral and shall, if received by Debtor, be received in trust for the benefit of Secured PartiesParty, be segregated from the other property or funds of Debtor and be forthwith delivered to Secured Parties Party as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Neomagic Corp)

Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor Pledgor shall be entitled to receive and retain free and clear of the security interest of Secured Parties Party hereunder any and all dividends and interest paid in respect of the Pledged Securities, provided, however, ; that any and all (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for any Pledged Securities, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities in connection with a partial or total liquidation or dissolution or in connection with With a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged Securities, shall be, and shall be forthwith delivered to Secured Parties Party to hold as, Pledged Collateral and shall, if received by DebtorPledgor, be received in trust for the benefit of Secured PartiesParty, be segregated from the other property or funds of Debtor Pledgor and be forthwith delivered to Secured Parties Party as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Transworld Benefits International Inc)

Rights Prior to an Event of Default. So long as no Event of Default shall have occurred and be continuing: (i) Debtor Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Securities Collateral or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement. (ii) Debtor Pledgor shall be entitled to receive and retain free and clear of the security interest of Secured Parties Party hereunder any and all dividends and interest paid in respect of the Pledged SecuritiesCollateral, provided, however, that any and all (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for any Pledged SecuritiesCollateral, (B) dividends and other distributions paid or payable in cash in respect of any Pledged Securities Collateral in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and (C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any Pledged SecuritiesCollateral, shall be, and shall be forthwith delivered to Secured Parties Party to hold as, Pledged Collateral and shall, if received by DebtorPledgor, be received in trust for the benefit of Secured PartiesParty, be segregated from the other property or funds of Debtor Pledgor and be forthwith immediately delivered to Secured Parties Party as Pledged Collateral in the same form as so received (with any necessary endorsement) to be held as part of the Pledged Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (E-Waste Corp.)

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