Common use of Prior to Maturity Clause in Contracts

Prior to Maturity. So long as no Event of ------------------------------------------ Default shall have occurred and be continuing, the Pledgor shall be entitled to receive all cash dividends paid in respect of the Stock, and absent receipt of an election from the Agent as provided below, 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 Pledgor if the effect thereof would in the reasonable judgment of the Agent 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 Notes or any of the other Loan Documents. All such rights of the Pledgor to receive cash dividends shall cease in case an Event of Default shall have occurred and be continuing. All such rights of the Pledgor to vote and give consents, waivers and ratifications with respect to the Stock shall, at the Agent's option, as evidenced by the Agent's notifying the Pledgor of such election, cease in case an Event of Default shall have occurred and be continuing.

Appears in 3 contracts

Samples: Credit Agreement (Jackson Products Inc), Stock Pledge Agreement (Jackson Products Inc), Stock Pledge Agreement (Jackson Products Inc)

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Prior to Maturity. So long as no Event of ------------------------------------------ ---------------------------------------------- Default shall have occurred and be continuing, the Pledgor shall be entitled to receive all cash and stock dividends paid in respect of the Stock, and absent receipt of an election from the Agent as provided belowPledged Shares, to vote the Stock Pledged Shares and to give consents, waivers and ratifications in respect of the StockPledged Shares; provided, however, -------- ------- that no vote shall be cast or consent, -------- ------- consent waiver or ratification given by the Pledgor if the effect thereof would in the reasonable judgment of the Agent Pledgee 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 Notes Stock Purchase Agreement or any of the other Loan DocumentsTransaction Documents (as defined in the Stock Purchase Agreement). All such rights of the Pledgor to receive cash dividends shall cease in case an Event of Default shall have occurred and be continuing. All stock dividends, and all such rights of the Pledgor to vote and give consents, waivers and ratifications with respect to the Stock shallPledged Shares, at the Agent's option, as evidenced by the Agent's notifying the Pledgor of such election, shall immediately cease in case the event an Event of Default shall have occurred and be continuing.

Appears in 1 contract

Samples: Stock Pledge Agreement (Chancellor Corp)

Prior to Maturity. So long as no Event of ------------------------------------------ ----------------------------------------------- Default shall have occurred and be continuing, the Pledgor shall be entitled to receive all cash and stock dividends paid in respect of the Stock, and absent receipt of an election from the Agent as provided belowPledged Shares, to vote the Stock Pledged Shares and to give consents, waivers and ratifications in respect of the StockPledged Shares; provided, however, -------- ------- that no vote shall be cast or consent, -------- ------- consent waiver or ratification given by the Pledgor if the effect thereof would in the reasonable judgment of the Agent Pledgee 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 Notes Stock Purchase Agreement or any of the other Loan DocumentsTransaction Documents (as defined in the Stock Purchase Agreement). All such rights of the Pledgor to receive cash dividends shall cease in case an Event of Default shall have occurred and be continuing. All stock dividends, and all such rights of the Pledgor to vote and give consents, waivers and ratifications with respect to the Stock shallPledged Shares, at the Agent's option, as evidenced by the Agent's notifying the Pledgor of such election, shall immediately cease in case the event an Event of Default shall have occurred and be continuing.

Appears in 1 contract

Samples: Stock Pledge Agreement (Chancellor Corp)

Prior to Maturity. So long as no Event of ------------------------------------------ Default shall have occurred and be continuing, the Pledgor shall be entitled to receive all cash dividends paid in respect of the Stock, and absent receipt of an election from the Agent as provided below, 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 Pledgor if the effect thereof would in the reasonable judgment of the Agent 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 Notes or any of the other Loan Documents. All such rights of the Pledgor to receive cash dividends shall cease in case an Event of Default shall have occurred and be continuing. All such rights of the Pledgor to vote and give consents, waivers and ratifications with respect to the Stock shall, at the Agent's option, as evidenced by the Agent's notifying the Pledgor of such election, cease in case an Event of Default shall have occurred and be continuing.

Appears in 1 contract

Samples: Stock Pledge Agreement (Jackson Products Inc)

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Prior to Maturity. So long as no Event of ------------------------------------------ Default shall have occurred and be continuing, the Pledgor shall be entitled to receive all cash dividends paid in respect of the Stock, and absent receipt of an election from the Agent as provided below, 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 Pledgor if the effect thereof would in the reasonable judgment of the Agent 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 Notes or any of the other Loan Documents. All such rights of the Pledgor to receive cash dividends shall cease in case an Event of Default shall have occurred and be continuing. All such rights of the Pledgor to vote and give consents, waivers and ratifications with respect to the Stock shall, at the Agent's option, as evidenced by the Agent's notifying the Pledgor of such election, cease in case an Event of Default shall have occurred and be continuing.'s

Appears in 1 contract

Samples: Credit Agreement (Jackson Products Inc)

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