Common use of Collection of Dividend Payments Clause in Contracts

Collection of Dividend Payments. During the term of this Agreement, and so long as there no Event of Default shall exist, Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company to Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Documents. Upon or after the occurrence of any Event of Default and pursuant to the terms of the Intercreditor Agreement, all dividends and other distributions payable by any Company on account of any of the Pledged Collateral shall be paid to Agent and any such sum received by Pledgor shall be deemed to be held by Pledgor in trust for the benefit of Agent and the other Secured Parties and shall be forthwith turned over to Agent for application by Agent to the Secured Obligations in the manner authorized by the Notes Amendment Documents.

Collection of Dividend Payments. During the term of this Agreement, and so long as there no shall not occur or exist any Event of Default shall existDefault, Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company to Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon or after the occurrence and continuation of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company on account of any of the Pledged Collateral shall be paid to Agent and any such sum received by Pledgor shall be deemed to be held by Pledgor in trust for the benefit of Agent and the other Secured Parties and shall be forthwith turned over to Agent for application by Agent to the Secured Obligations in such order of application as is specified in the manner authorized by the Notes Amendment DocumentsLoan Agreement.

Collection of Dividend Payments. During the term of this Agreement, and so long as there no Event of Default shall exist, Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company to such Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon or after the occurrence of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company on account of any of the Pledged Collateral shall be paid to Agent and any such sum received by Pledgor shall be deemed to be held by such Pledgor in trust for the benefit of Agent and the other Secured Lender Parties and shall be forthwith turned over to Agent for application by Agent to the Secured Obligations in the manner authorized by the Notes Amendment DocumentsCredit Agreement.

Collection of Dividend Payments. During the term of this Agreement, and so long as there no Event of Default shall existhave occurred and be continuing, each Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company to such Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon or after the occurrence and during the continuation of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company on account of any of the Pledged Collateral shall be paid to Administrative Agent and any such sum received by any Pledgor shall be deemed to be held by such Pledgor in trust for the benefit of Administrative Agent and the other Secured Parties and shall be forthwith turned over to Administrative Agent for application by Administrative Agent to the Secured Obligations in such order of application as is specified in the manner authorized by the Notes Amendment DocumentsCredit Agreement.

Collection of Dividend Payments. During the term of this Agreement, and so long as there no shall not occur or exist any Event of Default shall existDefault, Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company to Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon or after the occurrence of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company on account of any of the Pledged Collateral shall be paid to Agent Agent, for the benefit of itself and Lenders, and any such sum received by Pledgor shall be deemed to be held by Pledgor in trust for the benefit of Agent and the other Secured Parties Lenders and shall be forthwith turned over to Agent for application by Agent to the Secured Obligations in such order of application as is specified in the manner authorized by the Notes Amendment DocumentsCredit Agreement.

Collection of Dividend Payments. During Subject to Amendment No. 7 and the ICP Amendment, during the term of this Agreement, and so long as there no Event of Default shall exist, Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company to such Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon ; provided that, upon or after the occurrence of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company on account of any of the Pledged Collateral shall be paid to Agent and any such sum received by Pledgor shall be deemed to be held by such Pledgor in trust for the benefit of Agent and the other Secured Lender Parties and shall be forthwith turned over to Agent for application by Agent to the Secured Obligations in the manner authorized by the Notes Amendment DocumentsCredit Agreement.

Collection of Dividend Payments. During the term of this Agreement, and so long as there no shall not occur or exist any Event of Default shall existDefault, Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company to Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon or after the occurrence of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company on account of any of the Pledged Collateral shall be paid to Agent Agent, for the benefit of itself and the other Secured Parties, and any such sum received by Pledgor shall be deemed to be held by Pledgor in trust for the benefit of Agent and the other Secured Parties and shall be forthwith turned over to Agent for application by Agent to the Secured Obligations in such order of application as is specified in the manner authorized by the Notes Amendment DocumentsLoan Agreement.

Collection of Dividend Payments. During the term of this Pledge Agreement, and so long as there no shall not occur or exist any Event of Default shall existDefault, each Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company Pledged Subsidiary to such Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon or after the occurrence and during the continuation of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company Pledged Subsidiary on account of any of the Pledged Collateral shall be paid to the Administrative Agent and any such sum received by any Pledgor shall be deemed to be held by such Pledgor in trust for the benefit of the Administrative Agent and the other Secured Parties and shall be forthwith turned over to the Administrative Agent for application by the Administrative Agent to the Secured Obligations in such order of application as is specified in the manner authorized by the Notes Amendment DocumentsCredit Agreement.

Collection of Dividend Payments. During Subject to the PEP Amendment and the ICP Amendment, during the term of this Agreement, and so long as there no Event of Default shall exist, Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company to such Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon ; provided that, upon or after the occurrence of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company on account of any of the Pledged Collateral shall be paid to Agent and any such sum received by Pledgor shall be deemed to be held by such Pledgor in trust for the benefit of Agent and the other Secured Lender Parties and shall be forthwith turned over to Agent for application by Agent to the Secured Obligations in the manner authorized by the Notes Amendment DocumentsCredit Agreement.

Collection of Dividend Payments. During the term of this Agreement, and so long as there no shall not occur or exist any Event of Default shall existDefault, each Pledgor shall have the right to receive and retain any and all dividends and other distributions payable by any Company Pledged Subsidiary to such Pledgor on account of any of the Pledged Collateral except as otherwise provided in the Notes Amendment Loan Documents. Upon or after the occurrence and during the continuation of any Event of Default and pursuant to the terms of the Intercreditor AgreementDefault, all dividends and other distributions payable by any Company Pledged Subsidiary on account of any of the Pledged Collateral shall be paid to Agent and any such sum received by any Pledgor shall be deemed to be held by such Pledgor in trust for the benefit of Agent and the other Secured Parties and shall be forthwith turned over to Agent for application by Agent to the Secured Obligations in such order of application as is specified in the manner authorized by the Notes Amendment DocumentsCredit Agreement.