Common use of Prior to Maturity Clause in Contracts

Prior to Maturity. So long as no Default or Event of Default shall have occurred and be continuing, the Company shall be entitled to receive all cash dividends paid in respect of the Stock, to vote the Stock and to give consents, waivers and ratifications in respect of the Stock; provided, however, that no vote shall be cast or consent, waiver or ratification given by the Company if the effect thereof would in the reasonable judgment of the Required Holders impair any of the Stock Collateral or be inconsistent with or result in any violation of any of the provisions of the Note Agreements, or any of the other Note Documents. All such rights of the Company to receive cash dividends shall cease in case a Default or an Event of Default shall have occurred and be continuing. All such rights of the Company to vote and give consents, waivers and ratifications with respect to the Stock shall, at the Collateral Agent's option, as evidenced by the Collateral Agent's notifying the Company of such election, cease in case a Default or an Event of Default shall have occurred and be continuing.

Appears in 1 contract

Samples: Stock Pledge Agreement (Medallion Financial Corp)

AutoNDA by SimpleDocs

Prior to Maturity. So long as no Default or Event of Default shall have occurred and be continuing, the Company shall be entitled to receive all cash dividends paid in respect of the Stock, to vote the Stock and to give consents, waivers and ratifications in respect of the Stock; provided, however, that no vote shall be cast or consent, consent waiver or ratification given by the Company if the effect thereof would in the reasonable judgment of the Required Holders impair any of the Stock Collateral or be inconsistent with or result in any violation of any of the provisions of the Credit Agreement, the Note Agreements, or any of the other Note Loan Documents. All such rights of the Company to receive cash dividends shall cease in case a Default or an Event of Default shall have occurred and be continuing. All such rights of the Company to vote and give consents, waivers and ratifications with respect to the Stock shall, at the Collateral AgentBank's option, option as evidenced by the Collateral AgentBank's notifying the Company of such election, cease in case a Default or an Event of Default shall have occurred and be continuing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Expert Software Inc)

Prior to Maturity. So long as no Default or Event of Default shall have occurred and be continuing, the Company shall be entitled to receive all cash dividends paid in respect of the Stock, to vote the Stock and to give consents, waivers and ratifications in respect of the Stock; providedPROVIDED, howeverHOWEVER, that no vote shall be cast or consent, waiver or ratification given by the Company if the effect thereof would in the reasonable judgment of the Required Holders impair any of the Stock Collateral or be inconsistent with or result in any violation of any of the provisions of the Note Financing Agreements, or any of the other Note Documents. All such rights of the Company to receive cash dividends shall cease in case a Default or an Event of Default shall have occurred and be continuing. All such rights of the Company to vote and give consents, waivers and ratifications with respect to the Stock shall, at the Collateral Agent's option, as evidenced by the Collateral Agent's notifying the Company of such election, cease in case a Default or an Event of Default shall have occurred and be continuing.

Appears in 1 contract

Samples: Stock Pledge Agreement (Sos Staffing Services Inc)

AutoNDA by SimpleDocs

Prior to Maturity. So long as no Default or Event of Default shall have occurred and be continuing, the Company Companies shall be entitled to receive all cash dividends paid in respect of the Stock, to vote the Stock and to give consents, waivers and ratifications in respect of the Stock; provided, however, that no vote shall be cast or consent, waiver or ratification given by the any Company if the effect thereof would in the reasonable judgment of the Required Holders impair any of the Stock Collateral or be inconsistent with or result in any violation of any of the provisions of the Note Agreements, Credit Agreement or any of the other Note Loan Documents. All such rights of the Company Companies to receive cash dividends shall cease in case a Default or an Event of Default shall have occurred and be continuing. All such rights of the Company Companies to vote and give consents, waivers and ratifications with respect to the Stock shall, at the Collateral Agent's option, as evidenced by the Collateral Agent's notifying the Company Companies of such election, cease in case a Default or an Event of Default shall have occurred and be continuing.

Appears in 1 contract

Samples: Stock Pledge Agreement (Morgan Group Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.