Common use of VOTING, ETC Clause in Contracts

VOTING, ETC. Until the occurrence and continuance of an Event of Default (as defined in the Loan Agreement), the Pledgor shall be entitled to vote any and all of the Pledged Collateral; provided; however, that no vote shall be cast or any action taken by Pledgor which would violate or be materially inconsistent with any of the terms of this Agreement, the Loan Agreement, any other Loan Document, or which would have the effect of materially impairing the position or interests of the Pledgee or which would authorize or effect actions prohibited under the terms of the Loan Agreement or any Loan Document. All such rights of the Pledgor to vote shall cease upon the occurrence and during the continuance of an Event of Default, if the Pledgee so directs and provides notice to the Pledgor to do so; provided, however, that upon the cure or waiver of such Event of Default, all rights of the Pledgee to vote any and all of the Pledged Collateral shall cease.

Appears in 4 contracts

Samples: Pledge Agreement (Viskase Companies Inc), Pledge Agreement (Viskase Companies Inc), Pledge Agreement (Viskase Companies Inc)

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VOTING, ETC. Until the occurrence and continuance of an Event of Default (as defined in the Loan Agreement)Default, the each Pledgor shall be entitled to vote any and all of the Pledged Collateral; provided; , however, that no vote shall be cast or any action taken by such Pledgor with respect to any Pledged Collateral which would violate or be materially inconsistent with any of the terms of this Agreement, the Loan Agreement, any other Loan Document, or which would have the effect of materially impairing the position or interests of the Pledgee or which would authorize or effect actions prohibited under the terms of the Loan Agreement or any Loan Document. All such rights of the such Pledgor to vote any Pledged Collateral shall cease upon the occurrence and during the continuance of an Event of Default, if the Pledgee so directs and provides notice to the such Pledgor to do so; provided, however, that upon the cure or waiver of such Event of Default, all rights of the Pledgee to vote any and all of the Pledged Collateral shall cease.

Appears in 1 contract

Samples: Pledge Agreement (Empire Resorts Inc)

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VOTING, ETC. Until the occurrence and continuance of an Event of Default (as defined in the Loan Agreement)Default, the each Pledgor shall be entitled to vote any and all of the Pledged Collateral; provided; howeverPROVIDED, HOWEVER, that no vote shall be cast or any action taken by such Pledgor with respect to any Pledged Collateral which would violate or be materially inconsistent with any of the terms of this Agreement, the Loan AgreementIndenture, any other Loan Indenture Document, or which would have the effect of materially impairing the position or interests of the Pledgee or which would authorize or effect actions prohibited under the terms of the Loan Agreement Indenture or any Loan Indenture Document. All such rights of the such Pledgor to vote any Pledged Collateral shall cease upon the occurrence and during the continuance of an Event of Default, if the Pledgee so directs and provides notice to the such Pledgor to do so; providedPROVIDED, howeverHOWEVER, that upon the cure or waiver of such Event of Default, all rights of the Pledgee to vote any and all of the Pledged Collateral shall cease.

Appears in 1 contract

Samples: Pledge Agreement (Empire Resorts Inc)

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