Common use of Distributions in Respect of Collateral Clause in Contracts

Distributions in Respect of Collateral. 9.1 Upon the occurrence and during the continuance of an Event of Default and the exercise by Secured Party of its rights under this Section 9, Pledgor assigns to, and authorizes Secured Party to receive, any interest, principal, dividends, distributions, or other income or payments of whatever nature (whether in cash or in kind) now or hereafter made in respect of the Collateral, including those made in connection with the dissolution, liquidation, sale of assets, merger, consolidation, or other reorganization of WRDCLogsys, or any stock dividend, stock split, recapitalization, reclassification or otherwise (collectively, “Distributions”), to surrender such Collateral or any part thereof in exchange therefor, and to hold any such Distribution as part of the Collateral. 9.2 After the occurrence and during the continuance of an Event of Default, Pledgor will not demand or receive any income or Distribution with respect to the Collateral and if Pledgor receives any such Distributions, Pledgor will hold such Distributions in trust and deliver them promptly in the form received to Secured Party to hold as Collateral. After the occurrence and during the continuance of an Event of Default, Secured Party may apply any net cash Distributions to payment of any of the Secured Obligations, but Secured Party shall account for and pay over to Pledgor any Distributions remaining after full payment of such obligations.

Distributions in Respect of Collateral. 9.1 Upon the occurrence and during the continuance of an Event of Default and the exercise by Secured Party of its rights under this Section 9, Pledgor assigns to, and authorizes Secured Party to receive, any interest, principal, dividends, distributions, or other income or payments of whatever nature (whether in cash or in kind) now or hereafter made in respect of the Collateral, including those made in connection with the dissolution, liquidation, sale of assets, merger, consolidation, or other reorganization of WRDCLogsysDebtor, or any stock dividend, stock split, recapitalization, reclassification or otherwise (collectively, “"Distributions”"), to surrender such Collateral or any part thereof in exchange therefor, and to hold any such Distribution as part of the Collateral. 9.2 After the occurrence and during the continuance of an Event of Default, Pledgor will not demand or receive any income or Distribution with respect to the Collateral and if Pledgor receives any such Distributions, Pledgor will hold such Distributions in trust and deliver them promptly in the form received to Secured Party to hold as Collateral. After the occurrence and during the continuance of an Event of Default, Secured Party may apply any net cash Distributions to payment of any of the Secured Obligations, but Secured Party shall account for and pay over to Pledgor any Distributions remaining after full payment of such obligations.