Common use of Voting Rights; Cash Dividends Clause in Contracts

Voting Rights; Cash Dividends. Notwithstanding anything to the contrary contained herein, during the term of this Pledge Agreement until such time as there exists a default in the payment of principal or interest on the Note or any other default under the Note, Pledgor shall be entitled to all voting rights with respect to the Pledged Shares and shall be entitled to receive all cash dividends paid in respect of the Pledged Shares. Upon the occurrence of and during the continuance of any such default, the Company shall retain all such cash dividends payable on the Pledged Shares as additional security hereunder.

Appears in 13 contracts

Samples: Senior Management Agreement (U S Aggregates Inc), Agreement (Duane Reade Inc), Consultant Stock Agreement (Nutraceutical International Corp)

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Voting Rights; Cash Dividends. Notwithstanding anything to the contrary contained herein, during the term of this Executive Stock Pledge Agreement until such time as there exists a default in the payment of principal or interest on the Note Notes or any other default under the NoteNotes, the Pledgor shall be entitled to all voting rights with respect to the Pledged Shares and shall be entitled to receive all cash dividends paid in respect of the Pledged Shares. Upon the occurrence of and during the continuance of any such default, the Company shall retain all such cash dividends payable on the Pledged Shares as additional security hereunder.

Appears in 3 contracts

Samples: Executive Stock Pledge Agreement (MST Enterprises Inc), Executive Stock Pledge Agreement (MST Enterprises Inc), Stock Pledge Agreement (MST Enterprises Inc)

Voting Rights; Cash Dividends. Notwithstanding anything to the contrary contained herein, during During the term of this Pledge Agreement and until such time as there exists a default in the payment of principal or interest on the Note or any other default under the Note, Pledgor shall be entitled to all voting rights with respect to the Pledged Shares Interest and shall be entitled to receive all cash dividends paid in respect of the Pledged SharesInterest. Upon the occurrence of and during the continuance of any such default, the Company eSoft shall retain all such cash dividends payable on the Pledged Shares Interest as additional security hereunder.

Appears in 1 contract

Samples: Stock Pledge Agreement (Esoft Inc)

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Voting Rights; Cash Dividends. Notwithstanding anything to the ----------------------------- contrary contained herein, during the term of this Pledge Agreement until such time as there exists a default in the payment of principal or interest on the Note or any other default under the Note, Pledgor shall be entitled to all voting rights with respect to the Pledged Shares and shall be entitled to receive all cash dividends paid in respect of the Pledged Shares. Upon the occurrence of and during the continuance of any such default, the Company shall retain all such cash dividends payable on the Pledged Shares as additional security hereunder.

Appears in 1 contract

Samples: Key Employee Purchased Stock Agreement (Chippac LTD)

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