Irrevocable Proxy/Voting Rights. Pledgor hereby irrevocably appoints ------------------------------- Pledgee as Pledgor's proxy holder with respect to the Pledged Shares with full power and authority to vote the Pledged Shares and otherwise act with respect to such Pledged Shares on behalf of Pledgor, provided that this proxy shall only be operative upon the occurrence of an Event of Default and/or so long as such Event of Default continues. This proxy shall be irrevocable for so long as any of the Secured Obligations remains in existence.
Appears in 2 contracts
Sources: Secured Promissory Note (Leslies Poolmart Inc), Secured Promissory Note (Leslies Poolmart Inc)