Rights etc. WHILE NO EVENT OF DEFAULT. Unless and until an Event of Default shall have occurred and be continuing, each Pledgor shall be entitled to exercise any and all rights pertaining to the Pledged Instruments; PROVIDED, that no action shall be taken which would violate or be inconsistent with any of the terms of this Agreement or any other Secured Debt Agreement (as hereinafter defined). All such rights of such Pledgor shall cease in case an Event of Default shall occur and be continuing, and Section 5 hereof shall become applicable.
Appears in 3 contracts
Samples: Credit Agreement (Foster Wheeler Corp), Credit Agreement (Foster Wheeler Corp), Pledge Agreement (Foster Wheeler Corp)
Rights etc. WHILE NO EVENT OF DEFAULTWhile no Event of Default. Unless and until an Event of Default shall have occurred and be continuing, each Pledgor shall be entitled to exercise any and all rights pertaining to the Pledged Instruments; PROVIDEDprovided, that no action shall be taken which would violate or be inconsistent with any of the terms of this Agreement or any other Secured Debt Agreement (as hereinafter defined). All such rights of such Pledgor shall cease in case an Event of Default shall occur and be continuing, and Section 5 hereof shall become applicable. SECTION 4.
Appears in 1 contract
Samples: Pledge Agreement Pledge Agreement (Foster Wheeler Corp)
