Common use of VOTING RIGHTS AND CERTAIN PAYMENTS PRIOR TO ENFORCEMENT EVENT Clause in Contracts

VOTING RIGHTS AND CERTAIN PAYMENTS PRIOR TO ENFORCEMENT EVENT. 5.01. Voting Rights and Ordinary Payments Prior to an Enforcement Event. So long as no Enforcement Event shall have occurred and be continuing, Pledgor shall be entitled: (a) to exercise, as it shall think fit, in a manner that would not create or result in a Default or an Event of Default under the Indentures, the voting power with respect to the Pledged Collateral; and (b) to receive and retain for its own account any and all payments, proceeds, dividends, distributions, monies, compensation, property, assets, instruments or rights to the extent such are permitted pursuant to the terms of the Indentures. STOCK PLEDGE AGREEMENT

Appears in 11 contracts

Samples: Stock Pledge Agreement (Marconi Corp PLC), Stock Pledge Agreement (Marconi Corp PLC), Stock Pledge Agreement (Marconi Corp PLC)

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VOTING RIGHTS AND CERTAIN PAYMENTS PRIOR TO ENFORCEMENT EVENT. 5.01. Voting Rights and Ordinary Payments Prior to an Enforcement Event. So long as no Enforcement Event shall have occurred and be continuing, Pledgor shall be entitled: (a) to exercise, as it shall think fit, in a manner that would not create or result in a Default or an Event of Default under the Indentures, the voting power with respect to the Pledged Collateral; andand STOCK PLEDGE AGREEMENT (b) to receive and retain for its own account any and all payments, proceeds, dividends, distributions, monies, compensation, property, assets, instruments or rights to the extent such are permitted pursuant to the terms of the Indentures. STOCK PLEDGE AGREEMENT.

Appears in 1 contract

Samples: Stock Pledge Agreement (Marconi Corp PLC)

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