Collection of Dividends Clause Samples

The Collection of Dividends clause outlines the process by which dividends paid on securities are received and managed by a designated party, such as a custodian or agent, on behalf of the beneficial owner. Typically, this clause specifies that the agent will collect all dividend payments, ensure they are credited to the appropriate account, and may address issues such as currency conversion or withholding taxes. Its core practical function is to ensure that the rightful party receives dividend income efficiently and accurately, minimizing administrative burdens and reducing the risk of missed or misallocated payments.
Collection of Dividends. During the Term of Pledge, the Pledgee is entitled to collect dividends from the pledged Equity.
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Collection of Dividends. During the term of this Security Agreement, Grantor is authorized to collect all dividends, distributions, payments and other amounts that may be or become payable on any of the Collateral so long as no Event of Default has occurred. Upon the occurrence of an Event of Default and during the continuance of an Event of Default, the First Lien Agent is authorized to collect all dividends, distributions, payments or other amounts that may be or become payable on any of the Securities. Such amounts collected may, at the option of the First Lien Agent, be applied to the indebtedness secured hereby. The First Lien Agent shall be under no obligation to collect any such amounts.
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Collection of Dividends. During the term of this Security Agreement, Grantor is authorized to collect all dividends, distributions, payments and other amounts that may be or become payable on any of the Collateral so long as no Event of Default has occurred. Upon the occurrence of an Event of Default and during the continuance of an Event of Default, the Second Lien Agent is authorized to collect all dividends, distributions, payments or other amounts that may be or become payable on any of the Securities. Such amounts collected may, at the option of the Second Lien Agent, be applied to the indebtedness secured hereby. The Second Lien Agent shall be under no obligation to collect any such amounts.
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Collection of Dividends. Upon the occurrence and during the continuance of an Event of Default, Lender is authorized to collect all dividends, distributions, payments and other amounts that may be or become payable on any of the Collateral. Such amounts collected shall be applied to the Obligations. Lender shall be under no obligation to collect any such amounts.
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Collection of Dividends. During the term of this Agreement, Pledgor is authorized to collect all dividends, distributions, payments and other amounts that may be or become payable on any of the Collateral so long as no Event of Default has occurred and is continuing. Upon occurrence of an Event of Default and during the continuance of an Event of Default, Collateral Agent is authorized to collect all dividends, distributions, payments or other amounts that may be or become payable on any of the Collateral. Such amounts collected shall be distributed ratably to each Lender and applied by each Lender to the indebtedness secured hereby. Collateral Agent shall be under no obligation to collect any such amounts.
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Collection of Dividends. During the term of this Security Agreement, Lender is authorized to collect all dividends, distributions, payments and other amounts that may be or become payable on any of the Collateral. Such amounts collected shall be applied to the indebtedness secured hereby. Lender shall be under no obligation to collect any such amounts. In the event Lender elects to waive the provisions of this Section and allows Borrower to collect such dividends, distributions, payments and other amounts, such waiver may be revoked at any time without notice to Borrower.
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Related to Collection of Dividends

  • Coordination of Dividends After the date of this Agreement, each of Buyer and Company shall coordinate with the other the payment of dividends with respect to the Buyer Common Stock and Company Common Stock and the record dates and payment dates relating thereto, it being the intention of the parties that holders of Company Common Stock shall not receive two dividends, or fail to receive one dividend, for any single calendar quarter with respect to their shares of Company Common Stock or any share of Buyer Common Stock that any such holder receives in exchange for such shares of Company Common Stock in the Merger.

  • Declaration of Dividends Upon receipt of a written notice from an officer of the Fund declaring the payment of a dividend, the Transfer Agent shall disburse such dividend payments provided that in advance of such payment, the Fund furnishes the Transfer Agent with sufficient funds. The payment of such funds to the Transfer Agent for the purpose of being available for the payment of dividend checks from time to time is not intended by the Fund to confer any rights in such funds on the Fund’s Shareholders whether in trust or in contract or otherwise.

  • Payment of Dividends Any dividend or other distribution payable in cash in respect of shares may be paid by cheque, made payable to the order of the person to whom it is sent, and mailed to the address of the shareholder, or in the case of joint shareholders, to the address of the joint shareholder who is first named on the central securities register, or to the person and to the address the shareholder or joint shareholders may direct in writing. The mailing of such cheque will, to the extent of the sum represented by the cheque (plus the amount of the tax required by law to be deducted), discharge all liability for the dividend unless such cheque is not paid on presentation or the amount of tax so deducted is not paid to the appropriate taxing authority.

  • Adjustment for Certain Dividends and Distributions In the event the Company at any time, or from time to time after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in additional shares of Common Stock, then and in each such event the Purchase Price then in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Purchase Price then in effect by a fraction: (1) the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (2) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; provided, however, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Purchase Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Purchase Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

  • PAYMENT OF DIVIDENDS OR DISTRIBUTIONS 1. Whenever the Fund shall determine to pay a dividend or distribution on Shares it shall furnish to Custodian Instructions or a Certificate setting forth with respect to the Series specified therein the date of the declaration of such dividend or distribution, the total amount payable, and the payment date. 2. Upon the payment date specified in such Instructions or Certificate, Custodian shall pay out of the money held for the account of such Series the total amount payable to the dividend agent of the Fund specified therein.