Common use of Distributions on Pledged Securities Clause in Contracts

Distributions on Pledged Securities. (a) Until an Event of Default shall occur and be continuing, the respective Obligors shall be entitled, to the extent permitted by the Credit Documents, to receive all distributions on or with respect to the Pledged Securities (other than distributions constituting additional Pledged Securities or liquidating distributions). All distributions constituting additional Pledged Securities or liquidating distributions will be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be immediately delivered by such Person to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security. (b) If an Event of Default shall have occurred and be continuing, all distributions on or with respect to the Pledged Securities shall be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be promptly delivered by it to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security or applied by the Agent to the payment of the Obligations in accordance with Section 3.5.6.

Distributions on Pledged Securities. (a) Until an Event of Default shall occur and be continuingoccur, the respective Obligors shall be entitled, to the extent permitted by the Credit Documents, to receive and retain all distributions Distributions on or with respect to the Pledged Securities (other than distributions Distributions constituting additional Pledged Securities). All Distributions constituting additional Pledged Securities or liquidating distributions). All distributions constituting additional Pledged Securities or liquidating distributions will be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be immediately delivered by such Person to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security. (b) If an Event of Default shall have occurred and be continuingoccurred, all distributions Distributions on or with respect to the Pledged Securities shall be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be promptly immediately delivered by it to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security or applied by the Agent to the payment of the Credit Obligations in accordance with Section 3.5.6.

Distributions on Pledged Securities. (a) Until an Event of Default shall occur and be continuing, the respective Obligors shall be entitled, to the extent permitted by the Credit Documents, to receive all distributions Distributions on or with respect to the Pledged Securities (other than distributions Distributions constituting additional Pledged Securities). All Distributions constituting additional Pledged Securities or liquidating distributions). All distributions constituting additional Pledged Securities or liquidating distributions will be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be immediately delivered by such Person to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security. (b) If an Event of Default shall have occurred and be continuing, all distributions Distributions on or with respect to the Pledged Securities shall be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be promptly immediately delivered by it to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security or applied by the Agent to the payment of the Credit Obligations in accordance with Section 3.5.6.

Distributions on Pledged Securities. (a) Until an Event of Default shall occur and be continuing, the respective Obligors Pledgors shall be entitled, to the extent permitted by the Credit Documents, to receive and retain all distributions Distributions on or with respect to the Pledged Securities (other than distributions Distributions constituting additional Pledged Securities or liquidating distributionsDistributions). All distributions Distributions constituting additional Pledged Securities or liquidating distributions Distributions will be retained by the Agent (or if received by any Obligor Pledgor shall be held by such Person Pledgor in trust and shall be immediately delivered by such Person Pledgor to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security. (b) If an Event of Default shall have occurred and be continuing, all distributions Distributions on or with respect to the Pledged Securities shall be retained by the Agent (or if received by any Obligor Pledgor shall be held by such Person Pledgor in trust and shall be promptly immediately delivered by it such Pledgor to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security or applied by the Agent to the payment of the Credit Obligations in accordance with Section 3.5.63.4.6.

Distributions on Pledged Securities. (a1) Until an Event of a Default shall occur and be continuing, the respective Obligors shall be entitled, to the extent permitted by the Credit Documents, to receive all distributions on or with respect to the Pledged Securities (other than distributions constituting additional Pledged Securities or liquidating distributionsSecurities). All distributions constituting additional Pledged Securities or liquidating distributions will be retained by the Agent Lender (or if received by any Obligor shall be held by such Person in trust and shall be immediately delivered by such Person to the Agent Lender in the original form received, endorsed in blank) and held by the Agent Lender as part of the Credit Security. (b2) If an Event of a Default shall have occurred and be continuing, all distributions on or with respect to the Pledged Securities shall be retained by the Agent Lender (or if received by any Obligor shall be held by such Person in trust and shall be promptly immediately delivered by it to the Agent Lender in the original form received, endorsed in blank) and held by the Agent Lender as part of the Credit Security or applied by the Agent Lender to the payment of the Credit Obligations in accordance with Section 3.5.6.

Distributions on Pledged Securities. (a1) Until an Event of a Default shall occur and be continuing, the respective Obligors shall be entitled, to the extent permitted by the Credit Documents, to receive all distributions on or with respect to the Pledged Securities (other than distributions constituting additional Pledged Securities or liquidating distributionsSecurities). All distributions constituting additional Pledged Securities or liquidating distributions will be retained by the Agent Lender (or if received by any Obligor shall be held by such Person in trust and shall be immediately delivered by such Person to the Agent Lender in the original form received, endorsed in blank) and held by the Agent Lender as part of the Credit Security. (b2) If an Event of a Default shall have occurred and be continuing, all distributions on or with respect to the Pledged Securities shall be retained by the Agent Lender (or if received by any Obligor shall be held by such Person in trust and shall be promptly immediately delivered by it to the Agent Lender in the original form received, endorsed in blank) and held by the Agent Lender as part of the Credit Security or applied by the Agent Lender to the payment of the Credit Obligations in accordance with Section 3.5.62.5.6.

Distributions on Pledged Securities. (a) Until an Event of Default shall occur and be continuingoccur, the respective Obligors shall be entitled, to the extent permitted by the Credit Documents, to receive all distributions Distributions on or with respect to the Pledged Securities (other than distributions Distributions constituting additional Pledged Securities). All Distributions constituting additional Pledged Securities or liquidating distributions). All distributions constituting additional Pledged Securities or liquidating distributions will be retained by the Managing Agent (or if received by any Obligor shall be held by such Person in trust and shall be immediately delivered by such Person to the Managing Agent in the original form received, endorsed in blank) and held by the Managing Agent as part of the Credit Security. (b) If an Event of Default shall have occurred and be continuingoccurred, all distributions Distributions on or with respect to the Pledged Securities shall be retained by the Managing Agent (or if received by any Obligor shall be held by such Person in trust and shall be promptly immediately delivered by it to the Managing Agent in the original form received, endorsed in blank) and held by the Managing Agent as part of the Credit Security or applied by the Managing Agent to the payment of the Credit Obligations in accordance with Section 3.5.62.5.6.

Distributions on Pledged Securities. (a) Until an Event of Default shall occur and be continuing, the respective Obligors shall be entitled, to the extent permitted by the Credit Documents, to receive all distributions Distributions on or with respect to the Pledged Securities (other than distributions Distributions constituting additional Pledged Securities or liquidating distributionsDistributions). All distributions Distributions constituting additional Pledged Securities or liquidating distributions Distributions will be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be immediately delivered by such Person to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security. (b) If an Event of Default shall have occurred and be continuing, continuing all distributions Distributions on or with respect to the Pledged Securities shall be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be promptly immediately delivered by it to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security or applied by the Agent to the payment of the Credit Obligations in accordance with Section 3.5.62.5.6.

Distributions on Pledged Securities. (a1) Until an Event of Default shall occur and be continuing, the respective Obligors shall be entitled, to the extent permitted by the Credit Documents, to receive all distributions Distributions on or with respect to the Pledged Securities (other than distributions Distributions constituting additional Pledged Securities). All Distributions constituting additional Pledged Securities or liquidating distributions). All distributions constituting additional Pledged Securities or liquidating distributions will be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be immediately delivered by such Person to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security. (b2) If an Event of Default shall have occurred and be continuing, all distributions Distributions on or with respect to the Pledged Securities shall be retained by the Agent (or if received by any Obligor shall be held by such Person in trust and shall be promptly immediately delivered by it to the Agent in the original form received, endorsed in blank) and held by the Agent as part of the Credit Security or applied by the Agent to the payment of the Credit Obligations in accordance with Section 3.5.6.

Distributions on Pledged Securities. (a) Until such time as an Event of Default shall occur and be continuing, the respective Obligors shall be entitled, to the extent permitted by the Secured Credit Documents, to receive all distributions Distributions on or with respect to the Pledged Securities (other than distributions Distributions constituting additional Pledged Securities or liquidating distributionsDistributions). All distributions Distributions constituting additional Pledged Securities or liquidating distributions Distributions will be retained by the Collateral Agent (or if received by any Obligor shall be held by such Person in trust and shall be immediately promptly delivered by such Person to the Collateral Agent in the original form received, endorsed in blank, if applicable) and held by the Collateral Agent as part of the Credit Security. (b) If an Event of Default shall have occurred and be continuing, all distributions Distributions on or with respect to the Pledged Securities shall be retained by the Collateral Agent (or if received by any Obligor shall be held by such Person in trust and shall be promptly immediately delivered by it to the Collateral Agent in the original form received, endorsed in blank, if applicable) and held by the Collateral Agent as part of the Credit Security or applied by the Collateral Agent to the payment of the Secured Obligations in accordance with Section 3.5.6.