Common use of Cash Dividend Clause in Contracts

Cash Dividend. In the event that the Subject Corporation declares and pays a dividend (whether regular, special, or otherwise, subject to “Other Actions” below) on the Underlying Shares in cash (a “Cash Dividend”), outstanding Trust Certificates will be treated as follows: Dividend Certificates: Each Registered Owner as of the Record Date of a Dividend Certificate will receive its pro rata share (less the Dividend Fee pursuant to Section 5.13(c) of the Agreement applicable to such Dividend Certificate type, any other expenses required to be paid by such Registered Owner to the Trust Administrator pursuant to the Agreement, and any taxes required to be withheld) as a Cash Distribution (as defined below) by the Trust Administrator of the aggregate amount of such Cash Dividend distributed to the Trust. Asset Certificates: Asset Certificates do not have any rights with respect to Cash Dividends and would receive no distribution or payment.