Special Provisions Relating to Equity Collateral. Restricted Company Guarantee and Security Agreement (a) So long as no Event of Default shall have occurred and be continuing, each Restricted Company shall have the right to exercise all voting, consensual and other powers of ownership pertaining to the Equity Collateral for all purposes not inconsistent with the terms of this Agreement, the Loan Agreements, the other Loan Documents or any other instrument or agreement referred to herein or therein, provided that such Restricted Company agrees that it will not vote the Equity Collateral in any manner that is inconsistent with the terms of this Agreement, the Loan Agreements, the other Loan Documents or any such other instrument or agreement; and the Collateral Agent shall execute and deliver to such Restricted Company or cause to be executed and delivered to such Restricted Company all such proxies, powers of attorney, dividend and other orders, and all such instruments, without recourse, as such Restricted Company may reasonably request for the purpose of enabling such Restricted Company to exercise the rights and powers that it is entitled to exercise pursuant to this Section 6.04(a). (b) Unless and until an Event of Default has occurred and is continuing, such Restricted Company shall, subject to Article V, be entitled to receive and retain any dividends or distributions in respect of the Equity Collateral.
Appears in 2 contracts
Samples: Credit Agreement (Nextel Communications Inc), Credit Agreement (Nextel Communications Inc)
Special Provisions Relating to Equity Collateral. Restricted Company Guarantee and Security Agreement
(a) So long as no Event of Default shall have occurred and be continuing, each Restricted Company shall have the right to exercise all voting, consensual and other powers of ownership pertaining to the Equity Collateral for all purposes not inconsistent with the terms of this Agreement, the Loan AgreementsCredit Agreement, the other Loan Documents or any other instrument or agreement referred to herein or therein, provided that such Restricted Company agrees that it will not vote the Equity Collateral in any manner that is inconsistent with the terms of this Agreement, the Loan AgreementsCredit Agreement, the other Loan Documents or any such other instrument or agreement; and the Collateral Agent shall execute and deliver to such Restricted Company or cause to be executed and delivered to such Restricted Company all such proxies, powers of attorney, dividend and other orders, and all such instruments, without recourse, as such Restricted Company may reasonably request for the purpose of enabling such Restricted Company to exercise the rights and powers that it is entitled to exercise pursuant to this Section 6.04(a).. Restricted Company Guarantee and Security Agreement
(b) Unless and until an Event of Default has occurred and is continuing, such Restricted Company shall, subject to Article V, be entitled to receive and retain any dividends or distributions in respect of the Equity Collateral.
Appears in 1 contract
Special Provisions Relating to Equity Collateral. Restricted Company Guarantee and Security Agreement
(a) So long as no Event of Default shall have occurred and be continuing, each Restricted Company shall have the right to exercise all voting, consensual and other powers of ownership pertaining to the Equity Collateral for all purposes not inconsistent with the terms of this Agreement, the Loan AgreementsCredit Agreement, the other Loan Documents or any other instrument or agreement referred to herein or therein, provided that such Restricted Company agrees that it will not vote the Equity Collateral in any manner that is inconsistent with the terms of this Agreement, the Loan AgreementsCredit Agreement, the other Loan Documents or any such other instrument or agreement; and the Collateral Agent shall execute and deliver to such Restricted Company or cause to be executed and delivered to such Restricted Company all such proxies, powers of attorney, dividend and other orders, and all such instruments, without recourse, as such Restricted Company may reasonably request for the purpose of enabling such Restricted Company to exercise the rights and powers that it is entitled to exercise pursuant to this Section 6.04(a).
(b) Unless and until an Event of Default has occurred and is continuing, such Restricted Company shall, subject to Article V, be entitled to receive and retain any dividends or distributions in respect of the Equity Collateral.
Appears in 1 contract