Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral: (i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral; (ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and (iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 10 contracts
Sources: Credit Agreement (Diamond S Shipping Inc.), Credit Agreement, Credit Agreement (Gener8 Maritime, Inc.)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of DefaultDefault and following written notice from the Pledgee (provided that no such notice shall be required if any Event of Default under Section 8.01(f) of the Credit Agreement has occurred and is continuing), all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee Pledgor shall be entitled to receive directly, and subject to retain as part the other terms of the Collateralthis Agreement:
(i) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashcash subject to the first sentence of this Section 6) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All cash dividends, cash distributions or other cash payments which are received by any Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith promptly paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 7 contracts
Sources: Incremental Amendment Agreement (Ciena Corp), Abl Credit Agreement (Ciena Corp), Security Agreement and Pledge Agreement (Ciena Corp)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 6 contracts
Sources: Pledge Agreement (Dayton Superior Corp), Credit Agreement (Sitel Corp), Pledge Agreement (Infousa Inc)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of DefaultDefault and the Collateral Agent has given written notice to the Pledgor in accordance with Article X of the Credit Agreement, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the PledgorsPledgor. The Pledgee Collateral Agent shall be entitled to receive directly, and to retain as part of the Collateral:
(ia) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise otherwise, as the case may be, in respect of the CollateralPledged Stock;
(iib) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property paid (including, but not limited to, other than cash) paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iiic) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, excluding cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Collateral Agent's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the PledgeeCollateral Agent, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid or delivered over and/or delivered to the Pledgee Collateral Agent as Collateral in the same form as so received (with any necessary endorsement).
Appears in 4 contracts
Sources: Pledge Agreement (Coinmach Laundry Corp), Pledge Agreement (Coinmach Laundry Corp), Pledge Agreement (Coinmach Corp)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors, subject to the terms of the Secondary Pledge Agreement. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All Subject to the terms of the Secondary Intercreditor Agreement, all dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 4 contracts
Sources: Credit Agreement (Gener8 Maritime, Inc.), Secondary Pledge Agreement (Gener8 Maritime, Inc.), Secondary Pledge Agreement (Gener8 Maritime, Inc.)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, (i) all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 3 contracts
Sources: Credit Agreement (Marathon Power Technologies Co), Credit Agreement (Symons Corp), Pledge Agreement (Tristar Aerospace Co)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 3 contracts
Sources: Credit Agreement (Genco Shipping & Trading LTD), Credit Agreement (Genco Shipping & Trading LTD), Pledge and Security Agreement (Genco Shipping & Trading LTD)
Dividends and Other Distributions. Unless and until there So long as an Event of Default shall not have occurred and be continuing and until the Pledgee gives notice of its intent to exercise its rights under Section 7 hereof during the continuation of an Event of Default, all cash dividends, cash distributions, cash Proceeds and other non-cash amounts dividends and distributions payable in respect of the Collateral Pledged Securities shall be paid to the Pledgors. The respective Pledgor that owns such Pledged Securities; provided that, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(ia) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the CollateralPledged Securities;
(iib) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral Pledged Securities by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iiic) all other or additional stockstock or, notesexcept in connection with transactions permitted by the Credit Agreement, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, including cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee’s right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which that are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 3 contracts
Sources: Credit Agreement (Ball Corp), Credit Agreement (Ball Corp), Credit Agreement (Ball Corp)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all All cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid received (a) by the Pledgor, if no Event of Default shall have occurred and be continuing and (b) by the Pledgee, if any Event of Default shall have occurred and be continuing (all of which amounts so received by the Pledgee to be delivered by the Pledgee to the PledgorsAdministrative Agent for application toward prepayment of the Secured Obligations). The Pledgee shall also be entitled to receive directly, and to retain as part of the Collateral:
: (i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments capital stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
; (ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments capital stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all iii)all other or additional stock, notes, limited liability company interests, partnership interests, instruments capital stock or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stockexchange, conveyance of assets, liquidation or similar corporate reorganization; and (iv) without limiting the generality of the foregoing, all shares of Newco Stock distributed in respect of the Collateral. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to have pledged to it proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement). 7.
Appears in 2 contracts
Sources: Utility Stock Pledge Agreement (Pg&e Corp), Utility Stock Pledge Agreement (Pg&e Corp)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashcash other than as set forth above) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashcash other than as set forth above) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 (other than as set forth in the first sentence hereof) shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Pledge Agreement (Silgan Holdings Inc), Pledge Agreement (Silgan Holdings Inc)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, (i) all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor and (ii) all cash distributions payable in respect of the Pledged Partnership Interests shall be paid to the respective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property partnership interests (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend dividend, distribution or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) partnership interests paid or distributed in respect of the Collateral by way of merger, consolidation, conveyance of assets, liquidation, exchange of stock, stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, other than cash) which may be paid or distributed by way of dividend or distribution in respect of the Collateral. Nothing contained in this Section 6 shall limit or restrict in any way the Pledgee's right to receive proceeds of the Collateral by reason in any form in accordance with Section 3 of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganizationthis Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Pledge Agreement (Universal Compression Holdings Inc), Pledge Agreement (Power Ten)
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee Subject to Section 3.2 hereof, the Collateral Agent shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Article shall limit or other reorganizationrestrict in any way the Collateral Agent’s right to receive the proceeds of the Collateral in any form in accordance with Article III of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and Section 7 hereof Article or Article VII shall be received in trust for the benefit of the PledgeeCollateral Agent, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee Collateral Agent as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Pledge Agreement (Stonemor Partners Lp), Pledge Agreement (Stonemor Partners Lp)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(ia) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(iib) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashcash other than as set forth above) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iiic) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Credit Agreement (Manitowoc Foodservice, Inc.), Escrow Agreement (Manitowoc Foodservice, Inc.)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, including cash dividends other than except as set forth above in the first sentence of this Section 6otherwise provided above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Pledge Agreement (Information Holdings Inc), Pledge Agreement (Communications Instruments Inc)
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and distributions or other cash amounts payable in respect of the Collateral Pledged Securities shall be paid to the Pledgorsrespective Pledgor if and to the extent permitted to be paid to such Pledgor under the Credit Agreement. The Pledgee Administrative Agent shall also be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company membership interests, partnership interests, instruments interests or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company membership interests, partnership interests, instruments interests or other securities or property (including, but not limited to, including cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company membership interests, partnership interests, instruments interests or other securities or property (including, but not limited to, including cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Administrative Agent’s right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the PledgeeAdministrative Agent, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee Administrative Agent as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Credit Agreement (American Residential Properties, Inc.), Credit Agreement (American Residential Properties, Inc.)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. Nothing contained in this Section 6 shall limit or restrict in any way the Pledgee’s right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Pledge Agreement (PAETEC Holding Corp.), Security Agreement (PAETEC Holding Corp.)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise otherwise, as the case may be, in respect of the CollateralPledged Stock;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith promptly paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Credit Agreement (FSC Semiconductor Corp), Credit Agreement (Eye Care Centers of America Inc)
Dividends and Other Distributions. Unless and until there an Event of Default (or a Default under Section 10.05 of the Credit Agreement) shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than cash as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashother than cash as set forth above) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashother than cash as set forth above) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Pledge Agreement (Fairpoint Communications Inc), Credit Agreement (Fairpoint Communications Inc)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Pledge and Security Agreement (General Maritime Corp/), Pledge and Security Agreement (General Maritime Corp/)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the PledgorsPledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 2 contracts
Sources: Parent Pledge Agreement (Gener8 Maritime, Inc.), Credit Agreement (Gener8 Maritime, Inc.)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of DefaultDefault and the Collateral Agent has provided notice that is exercising its rights under Section 7 hereof, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee’s right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (Central Texas Corridor Hospital Company, LLC)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor. The Pledgee Collateral Agent shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise otherwise, as the case may be, in respect of the CollateralPledged Stock;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Collateral Agent's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the PledgeeCollateral Agent, shall be segregated from other property or funds of such Pledgor and shall be forthwith promptly paid over and/or delivered to the Pledgee Collateral Agent as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (Mentus Media Corp)
Dividends and Other Distributions. Unless and until there an Event of --------------------------------- Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (Dominos Pizza Government Services Division Inc)
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts dividends payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the CollateralPledged Stock;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 (other than as set forth in the first sentence hereof) shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, and subject always to Section 8.03 of the Credit Agreement, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, (i) all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor and (ii) all cash distributions payable in respect of the Pledged Partnership Interests and the Pledged Limited Liability Company Interests shall be paid to the respective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property partnership interests or limited liability company interests (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend dividend, distribution or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not partnership interests or limited to, cash) liability company interests paid or distributed in respect of the Collateral by way of merger, consolidation, conveyance of assets, liquidation, exchange of stock, stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, other than cash) which may be paid or distributed by way of dividend or distribution in respect of the Collateral. Nothing contained in this Section 6 shall limit or restrict in any way the Pledgee's right to receive proceeds of the Collateral by reason in any form in accordance with Section 3 of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganizationthis Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and distributions or other cash amounts payable in respect of the Collateral Pledged Securities shall be paid to the PledgorsPledgor. The Pledgee Collateral Agent shall also be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company membership interests, partnership interests, instruments interests or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6excluding cash) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company membership interests, partnership interests, instruments interests or other securities or property (including, but not limited to, excluding cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company membership interests, partnership interests, instruments interests or other securities or property (including, but not limited to, excluding cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Collateral Agent’s right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement upon the occurrence and during the continuance of an Event of Default. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the PledgeeCollateral Agent, shall be segregated from other property or funds of such the Pledgor and shall be forthwith be, as soon as practicable (but in any case within ten (10) days after any such receipt or such longer time as the Collateral Agent shall permit in its reasonable discretion), paid over and/or delivered to the Pledgee Collateral Agent as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor (and may be used by such Pledgor for its general corporate purposes). The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, including cash dividends other than except as set forth above in the first sentence of this Section 6otherwise provided above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashcash except as otherwise provided above) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashcash except as otherwise provided above) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors. The Pledgee Collateral Agent shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assetsall or substantially all the assets of a Pledgor, liquidation or similar corporate or other reorganizationreorganization not permitted by the terms of the Credit Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee Collateral Agent as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Credit Agreement (Todco)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Acceleration Event of Defaulthas occurred, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(ia) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(iib) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cashcash other than as set forth above) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iiic) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which that may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which that are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be and shall become part of the Collateral, and if received by any Pledgor, shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement, stock or note powers, allonges and other instruments of transfer reasonably requested by the Pledgee).
Appears in 1 contract
Sources: Credit Agreement (Welbilt, Inc.)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, (i) all cash dividends, dividends and distributions payable in respect of the Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the respective Pledgor and (ii) all cash distributions, cash Proceeds distributions and other cash amounts payable in respect of the Collateral Pledged Partnership Interests and Pledged Membership Interests shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend dividend, distribution or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of merger, consolidation, conveyance of assets, liquidation, exchange of stock, stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, other than cash) which may be paid or distributed by way of dividend or distribution in respect of the Collateral. Nothing contained in this Section 6 shall limit or restrict in any way the Pledgee's right to receive proceeds of the Collateral by reason in any form in accordance with Section 3 of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganizationthis Agreement. All dividends, distributions distributions, proceeds or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default (or a Default under Section 9.1(a) or (e) of the Credit Agreement) shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts dividends payable in respect of the Collateral shall Pledged Stock and all payments in respect of the Pledged Stock shall, subject to the requirement of Section 8.16 of the Credit Agreement, be paid to the Pledgorsrespective Pledgor. The Pledgee shall also be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the CollateralPledged Stock;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, other than cash) paid or distributed in respect of the Collateral Pledged Securities by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, other than cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Credit Agreement (Acg Holdings Inc)
Dividends and Other Distributions. Unless and until there The Pledgor shall have occurred and be continuing an Event of Default, procure that all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid are deposited into the Designated Securities Account pursuant to Clause 19.17 (Designated Securities Account) of the PledgorsSenior Facility Agreement. The Pledgee shall be entitled to receive directly, and to retain as part Pledgor agrees that each of the Collateralfollowing items shall constitute Collateral under this Agreement and it shall take such action as required under Sections 3.2 and 3.3 with respect to each such item as and when it receives the same:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization, provided that any of the foregoing paid or distributed in cash shall be subject to the first sentence of this Section 6. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and or Section 7 8 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall shall, upon the occurrence and during the continuance of an Event of Default, be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Subject to the preceding sentence, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all All cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral (other than proceeds of any foreclosure in respect of the Collateral pursuant to Section 7 hereof, which proceeds shall be paid to distributed and applied as provided in Section 9 hereof) shall be received (a) by the PledgorsPledgor, if no Event of Default shall have occurred and be continuing and (b) by the Collateral Agent, if any Event of Default shall have occurred and be continuing for application toward the payment of the Secured Obligations as provided for in Section 9. The Pledgee Collateral Agent shall also be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments capital stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments capital stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments capital stock or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stockexchange, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Collateral Agent's right to have pledged to it Proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the PledgeeCollateral Agent, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee Collateral Agent as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Stock Pledge Agreement (Southern Star Central Corp)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee’s right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (Infousa Inc)
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee’s right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (EnerSys)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of a Specified Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor, and such Pledgor shall be entitled to receive, retain and utilize such cash amounts free and clear of the Lien created by this Agreement. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default or a Specified Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to (and may be retained by) the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (Pca Valdosta Corp)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 67) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 7 and Section 7 8 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. (a) Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock shall be paid to the PledgorsPledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend dividend, distribution or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of merger, consolidation, conveyance of assets, liquidation, exchange of stock, stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, other than cash) which may be paid or distributed by way of dividend or distribution in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganizationCollateral. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, (i) all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral Colla-teral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributionsdistributions payable, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and Section 7 hereof below shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Credit Agreement (Flowers Foods Inc)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of a Default, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Charged Securities shall be paid to the PledgorsChargor. The Pledgee Chargee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments shares or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise otherwise, as the case may be, in respect of the CollateralCharged Securities;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments shares or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral Charged Securities by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments shares or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stockshares, conveyance of assets, liquidation or similar corporate reorganisation. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Chargee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Deed. All dividends, distributions or other payments which are received by any Pledgor the Chargor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the PledgeeChargee, shall be segregated from other property or funds of such Pledgor the Chargor and shall be forthwith promptly paid over and/or delivered to the Pledgee Chargee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidationconsoli- dation, merger▇▇▇▇▇▇, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust held for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (Dominos Inc)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 67) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 7 and Section 7 8 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there a Specified Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts dividends payable in respect of the Collateral Pledged Stock shall be paid to the PledgorsPledgor; provided, that all dividends payable in respect of the Pledged Stock which are determined by the Pledgee, in its absolute discretion, to represent in whole or in part a liquidating or other distribution in return of capital shall be paid to the Pledgee and retained by it as part of the Collateral. The Pledgee shall also be entitled to receive directly, and to retain as part of the Collateral:
(ia) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the CollateralPledged Stock;
(iib) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iiic) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Securities shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall also be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the CollateralPledged Stock, Pledged Limited Liability Company Interests and Pledged Partnership Interests;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) paid or distributed in respect of the Collateral Pledged Stock, Pledged Limited Liability Company Interests or Pledged Partnership Interests by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and Section 7 hereof below shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge and Security Agreement (Felcor Lodging Trust Inc)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event (acting at the direction of Defaultthe Required Secured Creditors) has so notified the respective Pledgor, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor. The Pledgee also shall be entitled to receive directly, and to retain as part of the Collateral:
(ia) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise otherwise, as the case may be, in respect of the CollateralPledged Stock;
(iib) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iiic) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, excluding cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Subsidiaries Pledge Agreement (Menasco Aerosystems Inc)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust held for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (Dominos Inc)
Dividends and Other Distributions. Unless and until there an Event of Default or a Specified Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee’s right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsementindorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an (x) a Bankruptcy Default or Notified Acceleration Event, or (y) any other Event of DefaultDefault or Acceleration Event, but in the case of this clause (y) only to the extent the Pledgee (acting at the direction of the Required Secured Creditors) has so notified the Pledgor, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgors. The Pledgor, provided that the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(ia) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property common stock (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash or assets) paid or distributed by way of dividend or otherwise otherwise, as the case may be, in respect of the CollateralPledged Stock;
(iib) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) common stock paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and;
(iiic) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) common stock which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization; and
(d) unless the payment or other reorganization. All dividendsany such cash dividend shall have been consented to by the Pledgee (acting at the direction of the Required Secured Creditors), any cash dividends or distributions declared or other payments which are received by any Pledgor contrary to paid in violation of the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement)Credit Agreement.
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to (and may be retained by) the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, (i) all cash dividends, dividends and distributions payable in respect of the Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the respective Pledgor and (ii) all cash distributions, cash Proceeds distributions and other cash amounts payable in respect of the Collateral Pledged Partnership Interests and Pledged Membership Interests shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend dividend, distribution or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of merger, consolidation, conveyance of assets, liquidation, exchange of stock-, stock- split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, other than cash) which may be paid or distributed by way of dividend or distribution in respect of the Collateral. Nothing contained in this Section 6 shall limit or restrict in any way the Pledgee's right to receive proceeds of the Collateral by reason in any form in accordance with Section 3 of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganizationthis Agreement. All dividends, distributions distributions, proceeds or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Credit Agreement (Sitel Corp)
Dividends and Other Distributions. Unless and until there a specified Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts dividends payable in respect of the Collateral Pledged Stock, Pledged Limited Liability Company Interests and Pledged Partnership Interests and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall also be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the CollateralPledged Stock, Pledged Limited Liability Company Interests and Pledged Partnership Interests;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) paid or distributed in respect of the Collateral Pledged Stock, Pledged Limited Liability Company Interests or Pledged Partnership Interests by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 7 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 7 and Section 7 hereof 8 below shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise otherwise, as the case may be, in respect of the CollateralPledged Stock;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-spin- off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith promptly paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default,
(a) all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors. The Pledgee Pledgor; and
(b) the Pledgor shall be entitled to receive directly, and to retain as part of the Collateral, subject to the terms and conditions of this Agreement:
(i) all other or additional stock, notes, participatory interests, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, participatory interests, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, participatory interests, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, redemption, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 5 and Section 7 hereof 6 of this Agreement shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default or a Specified Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsementindorsement).
Appears in 1 contract
Dividends and Other Distributions. A. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds dividends and other cash amounts distributions payable in respect of the Collateral Securities shall be paid to the PledgorsPledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) 1. all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise otherwise, as the case may be, in respect of the Securities or other securities that are Collateral;
(ii) 2. all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Securities or other securities that are Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) 3. all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization.
B. Nothing contained in this Section shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default (or a Default under Section 8.05 of the Credit Agreement) shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the PledgorsPledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited 128 to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such the Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Credit Agreement (Ceres Group Inc)
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default or a Specified Default, except as otherwise provided in the proviso of Section 7.03(a) of the Credit Agreement, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Except as provided in the preceding sentence, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(ia) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(iib) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iiic) all other or additional stock, notes, certificates, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All Except as expressly provided in this Section, all dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the PledgeePledgee (on behalf of the Secured Creditors), shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgors. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 67) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or other reorganization. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 7 and Section 7 8 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Revolving Credit Agreement (International Seaways, Inc.)
Dividends and Other Distributions. Unless and until there an Event of Default shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts dividends payable in respect of the Collateral Pledged Stock and all payments in respect of the Pledged Notes shall be paid to the Pledgorsrespective Pledgor. The Pledgee shall also be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6cash) paid or distributed by way of dividend or otherwise in respect of the CollateralPledged Stock;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) paid or distributed in respect of the Collateral Pledged Stock by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments stock or other securities or property (including, but not limited to, including cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 and Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Dividends and Other Distributions. Unless and until there an Event of Default (or a Default under Section 8.05 of the Credit Agreement) shall have occurred and be continuing an Event of Defaultcontinuing, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the Pledgorsrespective Pledgor. The Subject to Section 3.2 hereof, the Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
(i) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above in the first sentence of this Section 6above) paid or distributed by way of dividend or otherwise in respect of the Collateral;
(ii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and
(iii) all other or additional stock, notes, limited liability company interests, partnership interests, instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate reorganization. Nothing contained in this Section 6 shall limit or other reorganizationrestrict in any way the Pledgee's right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any the respective Pledgor contrary to the provisions of this Section 6 and or Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over and/or delivered to the Pledgee as Collateral in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Sources: Pledge Agreement (Superior National Insurance Group Inc)