Distributions on Pledged Shares. In the event that any Distribution with respect to any Pledged Shares or Pledged Interests pledged hereunder is permitted to be paid (in accordance with Section 6.9 of the Credit Agreement), such Distribution or payment may be paid directly to the applicable Grantor. If any Distribution is made in contravention of Section 6.9 of the Credit Agreement, the applicable Grantor shall hold the same segregated and in trust for the Administrative Agent until paid to the Administrative Agent in accordance with Section 4.1(e).
Distributions on Pledged Shares. In the event that any Distribution with respect to any Capital Securities pledged hereunder is permitted to be paid (in accordance with Section 8.6 of the Credit Agreement), such Distribution or payment may be paid directly to the relevant Grantor. If any Distribution is made in contravention of Section 8.6 of the Credit Agreement, the relevant Grantor shall hold the same segregated and in trust for the Secured Party until paid to the Secured Party in accordance with Section 4.1.5.
Distributions on Pledged Shares. In the event that any Distribution with respect to any Equity Interests pledged hereunder is permitted to be paid (in accordance with Section 7.06 of the Credit Agreement), such Distribution or payment may be paid directly to the applicable Pledgor, as applicable. If any Distribution is made in contravention of Section 7.06 of the Credit Agreement, such Pledgor, shall hold the same segregated and in trust for the Administrative Agent until paid to the Administrative Agent in accordance with Section 4.1.3.
Distributions on Pledged Shares. In the event that any Distribution with respect to any Pledged Shares or Pledged Interests pledged hereunder is permitted to be paid (in accordance with Section 6.05 of the Credit Agreement), then subject to the terms of the Intercreditor Agreement, such Distribution or payment may be paid directly to the applicable Grantor. If any Distribution is made in contravention of Section 6.05 of the Credit Agreement, the applicable Grantor shall hold the same segregated and in trust for the Collateral Agent until paid to the Collateral Agent in accordance with Section 4.1(e) during such time as any Event of Default has occurred and is continuing.
Distributions on Pledged Shares. In the event that any Distribution with respect to any Pledged Shares or Pledged Interests pledged hereunder is permitted to be paid, such Distribution or payment may be paid directly to the applicable Grantor.
Distributions on Pledged Shares. If any Distribution is made in contravention of Section 9.6 of the Credit Agreement, such Grantor shall hold the same segregated and in trust for the Administrative Agent until paid to the Administrative Agent in accordance with Section 5.2.
Distributions on Pledged Shares. It is intended that all Distributions with respect to any Pledged Property shall be held by Surge and shall be part of the Collateral. If Pledgor or Global shall at any time receive or come into possession or control of any such Distributions, they shall forthwith deliver the same to Surge.
Distributions on Pledged Shares. Distributions or payments in respect of Pledged Shares or Pledged Interests may be paid directly to the applicable Grantor; provided that if any Distribution made by a Grantor or a Subsidiary of a Grantor is made in contravention of Section 6.8 of the Credit Agreement, the applicable Grantor shall hold the same segregated and in trust for the Administrative Agent until paid to the Administrative Agent in accordance with Section 4.1(e).
Distributions on Pledged Shares. In the event that any Distribution is to be paid on any Pledged Share at a time when (i) no incipient default of the nature referred to in subdivision 7(A)(6) of the Credit Agreement or the equivalent thereof under the Letter of Credit Agreement, any of the BAI Letters of Credit, in respect of the IRB LC Documents or any of the IRB Letters of Credit has occurred and is continuing, and no (ii) Security Event of Default has occurred and is continuing, such Distribution may be paid directly to the Pledgor. If any Security Event of Default has occurred and is continuing, then any such Distribution shall be paid directly to the Collateral Agent.
Distributions on Pledged Shares. If any Distribution is made in contravention of Section 4.10 of the Indenture, such Grantor shall hold the same segregated and in trust for the Collateral Agent until paid to the Collateral Agent in accordance with Section 5.2.
