Common use of VOTING, ETC Clause in Contracts

VOTING, ETC. WHILE NO EVENT OF DEFAULT. Unless and until there shall have occurred and be continuing an Event of Default, each Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral 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, result in a breach of any covenant contained in, or be inconsistent with any of the terms of any Facility Document, or which could reasonably be expected to have the effect of materially impairing the value of the Collateral or any part thereof or in a manner adverse to the position or interests of the Collateral Agent or any other Secured Party in the Collateral, unless expressly permitted by the terms of the Facility Documents. All such rights of each Pledgor to vote and to give consents, waivers and ratifications shall cease in case an Event of Default has occurred and is continuing, and Section 7 hereof shall become applicable.

Appears in 1 contract

Sources: Pledge Agreement (CURO Group Holdings Corp.)

VOTING, ETC. WHILE NO EVENT OF DEFAULT. Unless and until there shall have occurred and be continuing an Event of Default, each the Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral 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, result in a breach of any covenant contained in, or be inconsistent with any of the terms of any Facility DocumentSecured Debt Agreement, or which could reasonably be expected to have the effect of materially impairing the value of the Collateral or any part thereof or in a manner adverse to the position or interests of the Collateral Agent Pledgee or any other Secured Party Creditor in the Collateral, unless expressly permitted by the terms of the Facility DocumentsSecured Debt Agreements. All such rights of each the Pledgor to vote and to give consents, waivers and ratifications shall cease in case an Event of Default has occurred and is continuing, and Section 7 hereof shall become applicable.

Appears in 1 contract

Sources: Pledge Agreement (Town Sports International Holdings Inc)

VOTING, ETC. WHILE NO EVENT OF DEFAULT. Unless and until there shall have occurred and be continuing an Event of DefaultDefault (or a Default under Section 9.04(b) of the DIP Credit Agreement), each Pledgor shall be entitled to exercise all voting rights attaching to any and all voting and other consensual rights pertaining to the Collateral owned by it, and to give consents, waivers or ratifications in respect thereof; thereof provided that, in each case, that no vote shall be cast or any consent, waiver or ratification given or any action taken or omitted to be taken which would violate, result in a breach of any covenant contained in, or be inconsistent with with, any of the terms of this Agreement, the DIP Credit Agreement, any Facility Documentother DIP Credit Document (collectively, the "Secured Debt Agreements"), or which could reasonably be expected to would have the effect of materially impairing the value of the Collateral or any part thereof or in a manner adverse to the position or interests of the Collateral Agent Pledgee or any other Secured Party in the Collateral, unless expressly permitted by the terms of the Facility DocumentsCreditor therein. All such rights of each a Pledgor to vote and to give consents, waivers and ratifications shall cease in case an Event of Default has occurred (or a Default under Section 9.04(b) of the DIP Credit Agreement) shall occur and is continuing, be continuing and Section 7 hereof shall become applicable.

Appears in 1 contract

Sources: Credit Agreement (Philip Services Corp)

VOTING, ETC. WHILE NO EVENT OF DEFAULT. Unless and until there shall have occurred and At any time before the security created or purported to be continuing an Event created by this Agreement has become enforceable in accordance with Section 7 of Defaultthis Agreement, each the Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral owned by ithim, 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, result in a breach of any covenant contained in, or be inconsistent with any of the terms of any Facility Loan Document, or which could reasonably be expected to have the effect of materially impairing the value of the Collateral or any part thereof or in a manner adverse to the position or interests of the Collateral Agent or any other Secured Party Pledgee in the Collateral, unless expressly permitted by the terms of the Facility Loan Documents. All such rights of each the Pledgor to vote and to give consents, waivers and ratifications shall cease in case when an Event of Default has occurred and is continuing, and Section 7 hereof shall become applicable.

Appears in 1 contract

Sources: Pledge Agreement

VOTING, ETC. WHILE NO EVENT OF DEFAULT. Unless and until there shall have occurred and be continuing an any Event of Default, each Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral 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, result in a breach of any covenant contained in, or be inconsistent with any of the terms of any Facility DocumentSecured Debt Agreement, or which could reasonably be expected to have the effect of materially impairing the value of the Collateral or any part thereof or in a manner adverse to the position or interests of the Collateral Agent Pledgee or any other Secured Party Creditor in the Collateral, unless expressly permitted by the terms of the Facility DocumentsSecured Debt Agreements. All such rights of each Pledgor to vote and to give consents, waivers and ratifications shall cease in case an Event of Default has occurred and is continuing, and the Pledgee chooses to exercise the rights granted to it pursuant to Section 7 hereof shall become applicablehereof.

Appears in 1 contract

Sources: Pledge Agreement (Davis-Standard CORP)