Distributions on Pledged Collateral. So long as the Purchase Contract Agent is the registered owner of the Pledged Debentures, it shall receive all payments thereon. If the Pledged Debentures are reregistered, such that the Collateral Agent becomes the registered holder, all payments of principal or interest on such Pledged Debentures, 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:
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Samples: Pledge Agreement (FPL Group Trust II), Pledge Agreement (FPL Group Capital Inc), Pledge Agreement (FPL Group Capital Inc)
Distributions on Pledged Collateral. So long as the Purchase Contract Agent is the registered owner of the Pledged DebenturesDebt Securities, it shall receive all payments thereon. If the Pledged Debentures Debt Securities are reregistered, such that the Collateral Agent becomes the registered holder, all payments of principal or interest on such Pledged Debentureson, 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:
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