Common use of Right to Vote Pledged Stock Clause in Contracts

Right to Vote Pledged Stock. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to the Pledged Stock, and the Secured Party shall, upon receiving a written request from the Pledgor accompanied by a certificate signed by the Pledgor and the Company's principal financial officer stating that no Event of Default has occurred and is continuing, deliver to the Pledgor or as specified in such request such proxies, powers of attorney, consents, ratifications and waivers in respect of any of the Pledged Stock which is registered in the name of the Secured Party or its nominee as shall be specified in such request and be in form and substance satisfactory to the Secured Party. If an Event of Default shall have occurred and be continuing, the Secured Party shall have the right to the extent permitted by law and the Pledgor shall take all such action as may be necessary or appropriate to give effect to such right, to vote and to give consents, ratifications and waivers, and take any other action with respect to any or all of the Pledged Stock with the same force and effect as if the Secured Party were the absolute and sole owner thereof.

Appears in 2 contracts

Samples: Pledge Agreement (Horizon Medical Products Inc), Pledge Agreement (Horizon Medical Products Inc)

AutoNDA by SimpleDocs

Right to Vote Pledged Stock. Unless an Event of Default shall have occurred and be is continuing, the Pledgor shall have the right, from time to time, to vote and to give consents, ratifications ratification and waivers with respect to the Pledged Stock, and the Secured Party shall, upon receiving a written request from the Pledgor accompanied by a certificate signed by the Pledgor and the Company's its principal financial officer stating that no Event of Default has occurred and is continuing, deliver to the Pledgor or as specified in such request such proxies, powers of attorney, consents, ratifications ratification and waivers in respect of any of the Pledged pledged Stock which is registered in the name of the Secured Party or its his nominee as shall be specified in such request and be in form and substance satisfactory to the Secured Party. If an Event of a Default shall have occurred and be continuing, the Secured Party shall have the right to the extent permitted by law and the Pledgor shall take all such action as may be necessary or appropriate to give effect to such right, to vote and to give consents, ratifications ratification and waivers, and take any other action with respect to any or all of the Pledged Stock with the same force and effect as if the Secured Party were the absolute and sole owner thereof.

Appears in 2 contracts

Samples: Pledge Agreement (Celtic Investment Inc), Pledge Agreement (Celtic Investment Inc)

AutoNDA by SimpleDocs

Right to Vote Pledged Stock. Unless an Event of Default shall have occurred and be continuing, the Pledgor shall have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to the Pledged Stock, and the Secured Party Agent shall, upon receiving a written request from the Pledgor accompanied by a certificate signed by the Pledgor and the Company's its principal financial officer stating that no Event of Default has occurred and is continuing, deliver to the Pledgor or as specified in such request such proxies, powers of attorney, consents, ratifications and waivers in respect of any of the Pledged Stock which is registered in the name of the Secured Party Agent or its nominee as shall be specified in such request and be in form and substance satisfactory to the Secured PartyAgent. If an Event of Default shall have occurred and be continuing, the Secured Party Agent shall have the right to the extent permitted by law and the Pledgor shall take all such action as may be necessary or appropriate to give effect to such right, to vote and to give consents, ratifications and waivers, and take any other action with respect to any or all of the Pledged Stock with the same force and effect as if the Secured Party Agent were the absolute and sole owner thereof.

Appears in 1 contract

Samples: Credit Agreement (Horizon Medical Products Inc)

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