Common use of Voting of Securities Clause in Contracts

Voting of Securities. As long as a Default has not occurred and is not continuing, Debtors shall be entitled to exercise all voting rights pertaining to any Collateral that is securities. After the occurrence and during the continuance of a Default, the right to vote any Collateral that is securities shall be vested exclusively in the Collateral Agent. To this end, each Debtor hereby irrevocably constitutes and appoints the Collateral Agent the proxy and attorney-in-fact of such Debtor, with full power of substitution, to vote, and to act with respect to, any and all Collateral that is securities standing in the name of such Debtor or with respect to which such Debtor is entitled to vote and act, subject to the understanding that such proxy may not be exercised unless a Default has occurred and is continuing. The proxy herein granted is coupled with an interest, is irrevocable, and shall continue until the Obligations have been paid and performed in full.

Appears in 4 contracts

Samples: Security Agreement (Tatonka Oil & Gas, Inc.), Security Agreement (Consolidated Energy Inc), Security Agreement (Consolidated Energy Inc)

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Voting of Securities. As long as a an Event of Default has not occurred and is not continuing, Debtors the Company shall be entitled to exercise all voting rights pertaining to any Collateral that is securities. After the occurrence and during the continuance of a an Event of Default, the right to vote any Collateral that is securities shall be vested exclusively in the Collateral AgentGryphon. To this end, each Debtor the Company hereby irrevocably constitutes and appoints the Collateral Agent Gryphon the proxy and attorney-in-fact of such Debtorthe Company, with full power of substitution, to vote, and to act with respect to, any and all Collateral that is securities standing in the name of such Debtor the Company or with respect to which such Debtor the Company is entitled to vote and act, subject to the understanding that such proxy may not be exercised unless a an Event of Default has occurred and is continuing. The proxy herein granted is coupled with an interest, is irrevocable, and shall continue until the Obligations have Obligation has been paid and performed in full.

Appears in 2 contracts

Samples: Exchange Agreement (Knightsbridge Fine Wines Inc), Security Agreement (Knightsbridge Fine Wines Inc)

Voting of Securities. As long as a Default has not occurred and is not continuing, Debtors the Debtor shall be entitled to exercise all voting rights pertaining to any Collateral that is securities. After the occurrence and during the continuance of a Default, the right to vote any Collateral that is securities shall be vested exclusively in the Collateral Agent. To this end, each the Debtor hereby irrevocably constitutes and appoints the Collateral Agent the proxy and attorney-in-fact of such the Debtor, with full power of substitution, to vote, and to act with respect to, any and all Collateral that is securities standing in the name of such the Debtor or with respect to which such the Debtor is entitled to vote and act, subject to the understanding that such proxy may not be exercised unless a Default has occurred and is continuing. The proxy herein granted is coupled with an interest, is irrevocable, and shall continue until the Obligations have been paid and performed in full.

Appears in 2 contracts

Samples: Security Agreement (Broadcast International Inc), Security Agreement (Broadcast International Inc)

Voting of Securities. As long as a Default has not occurred and is not continuing, Debtors Debtor shall be entitled to exercise all voting rights pertaining to any Collateral that is securities. After the occurrence and during the continuance of a Default, the right to vote any Collateral that is securities shall be vested exclusively in the Collateral AgentSecured Parties. To this end, each Debtor hereby irrevocably constitutes and appoints the Collateral Agent Agent, on behalf of Secured Parties, the proxy and attorney-in-fact of such Debtor, with full power of substitution, to vote, and to act with respect to, any and all Collateral that is securities standing in the name of such Debtor or with respect to which such Debtor is entitled to vote and act, subject to the understanding that such proxy may not be exercised unless a Default has occurred and is continuing. The proxy herein granted is coupled with an interest, is irrevocable, and shall continue until the Obligations have Obligation has been paid and performed in full.

Appears in 2 contracts

Samples: Credit Agreement (Pool Energy Services Co), Loan Agreement (Pool Energy Services Co)

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Voting of Securities. As long as a Default has not occurred and is not continuing, Debtors shall be entitled to exercise all voting rights pertaining to any Collateral that is securities. After the occurrence and during the continuance of a Default, the right to vote any Collateral that is securities shall be vested exclusively in the Collateral Agent. To this end, each Debtor hereby irrevocably constitutes and appoints the Collateral Agent the proxy and attorney-attorney in-fact of such Debtor, with full power of substitution, to vote, and to act with respect to, any and all Collateral that is securities standing in the name of such Debtor or with respect to which such Debtor is entitled to vote and act, subject to the understanding that such proxy may not be exercised unless a Default has occurred and is continuing. The proxy herein granted is coupled with an interest, is irrevocable, and shall continue until the Obligations have been paid and performed in full.

Appears in 1 contract

Samples: Security Agreement (Nascent Wine Company, Inc.)

Voting of Securities. As long as a Default has not occurred and is not continuing, Debtors Debtor shall be entitled to exercise all voting rights pertaining to any Collateral that is securities. After the occurrence and during the continuance of a Default, the right to vote any Collateral that is securities shall be vested exclusively in the Collateral AgentSecured Parties. To this end, each Debtor hereby irrevocably constitutes and appoints the Collateral Agent each Secured Party the proxy and attorney-in-fact of such Debtor, with full power of substitution, to vote, and to act with respect to, any and all Collateral that is securities standing in the name of such Debtor or with respect to which such Debtor is entitled to vote and act, subject to the understanding that such proxy may not be exercised unless a Default has occurred and is continuing. The proxy herein granted is coupled with an interest, is irrevocable, and shall continue until the Obligations have Obligation has been paid and performed in full.

Appears in 1 contract

Samples: Security Agreement (Consolidated Energy Inc)

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