Common use of Dividends and Other Rights Clause in Contracts

Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.

Appears in 7 contracts

Samples: Security Agreement (Cano Petroleum, Inc), Subordinated Credit Agreement (Cano Petroleum, Inc), Security Agreement (Triangle Petroleum Corp)

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Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and upon the delivery of written notice by the Administrative Agent to any Pledgor, all rights of the Pledgors such Pledgor to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.

Appears in 3 contracts

Samples: Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.)

Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor elects, and all rights of the Pledgors such Pledgor to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b2.04(a) shall cease.

Appears in 3 contracts

Samples: Credit Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp), Pledge Agreement (Berry Petroleum Corp)

Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent Secured Party if the Administrative Agent Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.

Appears in 3 contracts

Samples: Security Agreement (Holly Energy Partners Lp), Pledge Agreement (Holly Energy Partners Lp), Pledge Agreement (Holly Energy Partners Lp)

Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent Collateral Trustee if the Administrative Agent Collateral Trustee so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.

Appears in 3 contracts

Samples: Credit Agreement (Cano Petroleum, Inc), Pledge Agreement (Cano Petroleum, Inc), Pledge Agreement (Cano Petroleum, Inc)

Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a2.04(a)(ii) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any dividends or Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b2.04(a)(i) shall cease.

Appears in 2 contracts

Samples: Pledge and Security Agreement (CorEnergy Infrastructure Trust, Inc.), Pledge and Security Agreement (CorEnergy Infrastructure Trust, Inc.)

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Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent Secured Party if the Administrative Agent Secured Party so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which that it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.

Appears in 2 contracts

Samples: Credit Agreement (Isramco Inc), Security Agreement (Callon Petroleum Co)

Dividends and Other Rights. (a) All rights of the Pledgors Pledgor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors Pledgor to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.

Appears in 1 contract

Samples: Credit Agreement (Isramco Inc)

Dividends and Other Rights. (a) All rights of the Pledgors to exercise the voting and other consensual rights which it they would otherwise be entitled to exercise pursuant to Section 2.04(a) may be exercised by the Administrative Agent if the Administrative Agent so elects and gives written notice of such election to the affected Pledgor and all rights of the Pledgors to receive any Distributions on or in respect of the Pledged Collateral and the proceeds of sale of the Pledged Collateral which it that they would otherwise be authorized to receive and retain pursuant to Section 2.04(b) shall cease.

Appears in 1 contract

Samples: Pledge Agreement (Seahawk Drilling, Inc.)

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