Common use of Voting, Dividend and Distribution Rights Clause in Contracts

Voting, Dividend and Distribution Rights. At the option of Collateral Agent, all rights of Grantor to exercise the voting and other consensual rights which Grantor would otherwise be entitled to exercise pursuant to Section 13.1 above, and to receive the interest and distributions which Grantor would otherwise be authorized to receive and retain pursuant to Section 13.2 above, shall cease, and all such rights thereupon shall become vested in Collateral Agent for the benefit of Secured Party which thereupon shall have the sole right to exercise such voting and other consensual rights and to receive and to hold as Pledged Collateral such interest and distributions.

Voting, Dividend and Distribution Rights. At Upon the option election of Collateral Agent, all rights of each Grantor to exercise the voting and other consensual rights which each Grantor would otherwise be entitled to exercise pursuant to Section 13.1 above, and to receive the interest and distributions which each Grantor would otherwise be authorized to receive and retain pursuant to Section 13.2 above, shall cease, and all such rights thereupon shall become vested in Collateral Agent for the benefit of Secured Party which thereupon shall have the sole right to exercise such voting and other consensual rights and to receive and to hold as Pledged Collateral such interest and distributions.

Voting, Dividend and Distribution Rights. At Upon the option election of the Collateral Agent, all rights of each Grantor to exercise the voting and other consensual rights which each Grantor would otherwise be entitled to exercise pursuant to Section 13.1 above, and to receive the interest and distributions which each Grantor would otherwise be authorized to receive and retain pursuant to Section 13.2 above, shall cease, and all such rights thereupon shall become vested in Collateral Agent for the benefit of Secured Party which thereupon shall have the sole right to exercise such voting and other consensual rights and to receive and to hold as Pledged Collateral such interest and distributions.

Voting, Dividend and Distribution Rights. At the option of Collateral Agent, all rights of each Grantor to exercise the voting and other consensual rights which each Grantor would otherwise be entitled to exercise pursuant to Section 13.1 above, and to receive the interest and distributions which each Grantor would otherwise be authorized to receive and retain pursuant to Section 13.2 above, shall cease, and all such rights thereupon shall become vested in Collateral Agent for the benefit of Secured Party which thereupon shall have the sole right to exercise such voting and other consensual rights and to receive and to hold as Pledged Collateral such interest and distributions.