Common use of Rights Relating to Borrower Control Shares Clause in Contracts

Rights Relating to Borrower Control Shares. Prior to the occurrence of an Event of Default (as defined herein), (i) the Lender shall have no right to vote the Borrower Control Shares at any meeting of the Borrower’s stockholders, and (ii) the Lender shall have no right to assign or transfer the Borrower Control Shares. Upon the occurrence of such an Event of Default, the Lender shall be entitled (X) to vote the Borrower Control Shares, and (Y) to assign or transfer such Borrower Control Shares, and to enjoy all other rights and privileges incident to the ownership of the Borrower Control Shares. Lender shall credit against the amounts owed on the Loan, any dividends or distributions received with respect to the Borrower Control Shares, and any proceeds received from the sale or disposition of the Borrower Control Shares.

Rights Relating to Borrower Control Shares. Prior to the occurrence of an Event of Default (as defined herein), (i) the Lender shall have no right to vote the Borrower Control Shares at any meeting of the Borrower’s 's stockholders, and (ii) the Lender shall have no right to assign or transfer the Borrower Control Shares. Upon the occurrence of such an Event of Default, the Lender shall be entitled (X) to vote the Borrower Control Shares, and (Y) to assign or transfer such Borrower Control Shares, and to enjoy all other rights and privileges incident to the ownership of the Borrower Control Shares. Lender shall credit against the amounts owed on the Loan, any dividends or distributions received with respect to the Borrower Control Shares, and any proceeds received from the sale or disposition of the Borrower Control Shares.