Common use of Distributions on Pledged Collateral Clause in Contracts

Distributions on Pledged Collateral. So long as the Purchase Contract Agent is the registered owner of the Pledged Debt Securities, it shall receive all payments thereon. If the Pledged Debt Securities are reregistered, such that the Collateral Agent becomes the registered holder, all payments of principal or interest on such Pledged Debt Securities, together with any payments of principal or interest or cash distributions in respect of any other Pledged Securities received by the Collateral Agent that are properly payable hereunder shall be paid by the Collateral Agent by wire transfer in same day funds:

Distributions on Pledged Collateral. So long as the Purchase Contract Agent is the registered owner of the Pledged Debt Securities, it shall receive all payments thereon. If the Pledged Debt Securities are reregistered, such that the Collateral Agent becomes the registered holder, all payments of principal or interest on such Pledged Debt Securities, together with any payments of principal or interest or interest, cash distributions or other Proceeds in respect of any other Pledged Securities received by the Collateral Agent that are properly payable hereunder shall be paid by the Collateral Agent by wire transfer in same day funds:

Distributions on Pledged Collateral. So long as the Purchase Contract Agent is the registered owner of the Pledged Debt Securities, it shall receive all payments thereon. If the Pledged Debt Securities are reregistered, such that the Collateral Agent becomes the registered holder, all payments of principal or interest on such Pledged Debt Securities, together with any payments of principal or interest or interest, cash distributions or other Proceeds in respect of any other Pledged Securities received by the Collateral Agent that are properly payable hereunder shall be paid by the Collateral Agent by wire transfer in same day funds: