Common use of Restrictions on Voting Clause in Contracts

Restrictions on Voting. Prior to a Default Period, the Pledgor has the right, in is discretion, to vote or exercise voting rights with respect to any stock, securities or instruments forming a part of the Collateral. Notwithstanding the foregoing, the Pledgor is not to vote or exercise any voting rights, directly or indirectly, with respect to any stock, securities or instruments forming a part of the Collateral for a merger, consolidation, dissolution, sale of all or substantially all assets, or for an amendment to the Certificate of Incorporation or Bylaws without the prior written consent of Lender, which consent is not to be unreasonably withheld or delayed.

Restrictions on Voting. Prior to a Default Period, the Pledgor has the right, in is its discretion, to vote or exercise voting rights with respect to any stock, securities or instruments forming a part of the Collateral. Notwithstanding the foregoing, the Pledgor is not to vote or exercise any voting rights, directly or indirectly, with respect to any stock, securities or instruments forming a part of the Collateral for a merger, consolidation, dissolution, sale of all or substantially all assets, or for an amendment to the Certificate of Incorporation or Bylaws without the prior written consent of Lender, which consent is not to be unreasonably withheld or delayed.