Common use of Additional Collateral Security Clause in Contracts

Additional Collateral Security. If, upon the dissolution or liquidation (in whole or in part) of any subsidiary listed on Schedule 1 hereto, any sum shall be paid upon or with respect to any of the Pledged Securities, such sum shall be paid over to Pledgee to be held by Pledgee as additional collateral security for the Obligations. In case any stock dividend shall be declared on any of the Pledged Securities, or any shares of stock or fractions thereof shall be issued pursuant to any stock split involving any of the Pledged Securities, or any distribution of capital shall be made on any of the Pledged Securities, or any property shall be distributed upon or with respect to the Pledged Securities pursuant to any recapitalization or reclassification of the capital of any subsidiary listed on Schedule 1 hereto, or pursuant to a reorganization thereof, the shares or other property so distributed shall be delivered to Pledgee as additional collateral security for the Obligations.