Common use of VOTING, ETC., WHILE NO EVENT OF DEFAULT Clause in Contracts

VOTING, ETC., WHILE NO EVENT OF DEFAULT. Unless and until there shall have occurred and be continuing any Event of Default, Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral, and to give consents, waivers or ratifications in respect thereof; provided that, in each case, no vote shall be cast or any consent, waiver or ratification given or any action taken or omitted to be taken which would violate or result in a breach of any covenant contained in this Agreement, or which could reasonably be expected to have the effect of impairing the position or interests of Pledgee in the Collateral, unless expressly permitted by the terms of this Agreement. All such rights of Pledgor to vote and to give consents, waivers and ratifications shall cease if an Event of Default has occurred and is continuing, and during such continuance, Section 7 hereof shall be applicable.

Appears in 2 contracts

Samples: And Collateral Agreement (Bp PLC), Pledge and Collateral Agreement (Bp PLC)

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VOTING, ETC., WHILE NO EVENT OF DEFAULT. (a) Unless and until there shall have occurred and be continuing any an Event of Default, the Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the CollateralCollateral owned by it, and to give consents, waivers or ratifications in respect thereof; provided that, in each case, no vote shall be cast or any consent, waiver or ratification given or any action taken or omitted to be taken which would violate or result in a breach be inconsistent with any of the terms of any covenant contained in this AgreementFinance Document, or which could reasonably be expected to have the effect of impairing the value of the Collateral or any part thereof or the position or interests of the Pledgee in the Collateral, Collateral unless expressly permitted by the terms of this Agreementthe Finance Documents. All such rights of the Pledgor to vote and to give consents, waivers and ratifications shall cease if in case an Event of Default has occurred and is continuing, continuing and during such continuance, Section 7 12 hereof shall be become applicable.

Appears in 1 contract

Samples: Loan Agreement (Eagle Bulk Shipping Inc.)

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VOTING, ETC., WHILE NO EVENT OF DEFAULT. (a) Unless and until there shall have occurred and be continuing any an Event of Default, the Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the CollateralCollateral owned by it, and to give consents, waivers or ratifications in respect thereof; provided that, in each case, no vote shall be cast or any consent, waiver or ratification given or any action taken or omitted to be taken which would violate or result in a breach be inconsistent with any of the terms of the Facility Agreement or any covenant contained in this Agreementother Finance Document, or which could reasonably be expected to have the effect of impairing the value of the Collateral or any part thereof or the position or interests of the Pledgee in the Collateral, unless expressly permitted by the terms of this Agreement. All such rights of the Pledgor to vote and to give consents, waivers and ratifications shall cease if in case an Event of Default has occurred and is continuing, and during such continuance, Section 7 9 hereof shall be become applicable.

Appears in 1 contract

Samples: Form of Pledge and Security Agreement (Cma CGM S.A.)

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