Common use of Voting Rights with respect to Equity Interests Clause in Contracts

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agent, all rights of Obligors to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agent’s option, be suspended, and all such rights shall, at Agent’s option, thereupon become vested in Agent for the benefit of the Secured Parties during the continuation of such Event of Default, and Agent shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights during the continuation of such Event of Default and Agent shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.4.

Appears in 3 contracts

Samples: Guaranty and Security Agreement (ArcLight Clean Transition Corp.), Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Casella Waste Systems Inc)

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Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent Lender has provided at least one (1) Business Day’s prior written notice to the Borrower Agent, all rights of Obligors to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at AgentLender’s option, be suspended, and all such rights shall, at AgentLender’s option, thereupon become vested in Agent Lender for the benefit of the Secured Parties during the continuation of such Event of Default, and Agent Lender shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights during the continuation of such Event of Default and Agent Lender shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.47.8.5.

Appears in 2 contracts

Samples: Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (Orion Energy Systems, Inc.)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors Loan Parties shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agentcontinuing, all rights of Obligors Loan Parties to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at the Agent’s option, be suspended, and all such rights shall, at the Agent’s option, thereupon become vested in the Agent for the benefit of the Secured Credit Parties during the continuation of such Event of Default, and the Agent shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights and during the continuation of such Event of Default and the Agent shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor Loan Party shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.44.02(d)(v).

Appears in 2 contracts

Samples: Credit and Security Agreement (Katy Industries Inc), Credit and Security Agreement (Katy Industries Inc)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors Loan Parties shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agentcontinuing, all rights of Obligors Loan Parties to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agentthe Lender’s option, be suspended, and all such rights shall, at Agentthe Lender’s option, thereupon become vested in Agent the Lender for the benefit of the Secured Credit Parties during the continuation of such Event of Default, and Agent the Lender shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights and during the continuation of such Event of Default and Agent the Lender shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor Loan Party shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.44.02(v).

Appears in 1 contract

Samples: Credit and Security Agreement (Mfri Inc)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agent, all rights of Obligors to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agent’s option, be suspended, and all such rights shall, at Agent’s option, thereupon become vested in Agent for the benefit of the Secured Parties during the continuation of such Event of Default, and Agent shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights and during the continuation of such Event of Default and Agent shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.47.3.4.

Appears in 1 contract

Samples: Loan and Security Agreement (Installed Building Products, Inc.)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors Loan Parties shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agentcontinuing, all rights of Obligors Loan Parties to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agentthe Lender’s option, be suspended, and all such rights shall, at Agentthe Lender’s option, thereupon become vested in Agent the Lender for the benefit of the Secured Credit Parties during the continuation of such Event of Default, and Agent the Lender shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights and during the continuation of such Event of Default and Agent the Lender shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor Loan Party shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.44.02(d)(v).

Appears in 1 contract

Samples: Credit and Security Agreement (Katy Industries Inc)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors each US Facility Grantor shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agent, all rights of Obligors any US Facility Grantor to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agent’s option, be suspended, and all such rights shall, at Agent’s option, thereupon become vested in Agent for the benefit of the Secured Parties during the continuation of such Event of Default, and Agent shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights during the continuation of such Event of Default and Agent shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor US Facility Grantor shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.47.4.1(e).

Appears in 1 contract

Samples: Loan and Security Agreement (Innerworkings Inc)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors Loan Parties shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agentcontinuing, all rights of Obligors Loan Parties to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agentthe Lender’s optionoption and upon written notice, be suspended, and all such rights shall, at Agentthe Lender’s option, thereupon become vested in Agent the Lender for the benefit of the Secured Parties during the continuation of such Event of Default, and Agent the Lender shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights and during the continuation of such Event of Default and Agent the Lender shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor Loan Party shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.44.02(d)(v).

Appears in 1 contract

Samples: Loan and Security Agreement (Kalera Public LTD Co)

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Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors Loan Parties shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agentcontinuing, all rights of Obligors Loan Parties to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agentthe Lender’s option, be suspended, and all such rights shall, at Agentthe Lender’s option, thereupon become vested in Agent the Lender for the benefit of the Secured Parties during the continuation of such Event of Default, and Agent the Lender shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights during the continuation of such Event of Default and Agent during the continuation of such Event of Default the Lender shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been cured or waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated (or if accelerated, such acceleration has been rescinded), each Obligor Loan Party shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.44.02(e)(v).

Appears in 1 contract

Samples: Credit and Security Agreement (FreightCar America, Inc.)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors each Obligor shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agentcontinuing, all rights of Obligors each Obligor to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agent’s 's option, be suspended, and all such rights shall, at Agent’s 's option, thereupon become vested in Agent for the benefit of the Secured Parties during the continuation of such Event of Default, and Agent shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights during the continuation of such Event of Default and Agent shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.47.4.1(e).

Appears in 1 contract

Samples: Loan and Security Agreement (Innerworkings Inc)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent Lender has provided at least one (1) Business Day’s prior written notice to the Borrower Agent, all rights of Obligors to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at AgentLender’s option, be suspended, and all such rights shall, at AgentXxxxxx’s option, thereupon become vested in Agent 50 Lender for the benefit of the Secured Parties during the continuation of such Event of Default, and Agent Lender shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights during the continuation of such Event of Default and Agent Lender shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.47.8.5.

Appears in 1 contract

Samples: Loan and Security Agreement (Orion Energy Systems, Inc.)

Voting Rights with respect to Equity Interests. So long as no Event of Default has occurred and is continuing, Obligors Loan Parties shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Pledged Interests or any part thereof for any purpose not prohibited by the terms of this Agreement. If an Event of Default shall have occurred and be continuing and the Agent has provided at least one (1) Business Day’s prior written notice to the Borrower Agentcontinuing, all rights of Obligors Loan Parties to exercise the voting and other consensual rights that it would otherwise be entitled to exercise shall, at Agent’s 's option, be suspended, and all such rights shall, at Agent’s 's option, thereupon become vested in Agent for the benefit of the Secured Credit Parties during the continuation of such Event of Default, and Agent shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights and during the continuation of such Event of Default and Agent shall thereupon have the right to act with respect thereto as though it were the outright owner thereof. After all Events of Default have been waived in accordance with the provisions hereof, and so long as the Obligations shall not have been accelerated, each Obligor Loan Party shall have the right to exercise the voting and other consensual rights and powers that it would have otherwise been entitled to pursuant to this Section 7.4.44.02(d)(v).

Appears in 1 contract

Samples: Credit and Security Agreement (Katy Industries Inc)

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