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.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Vbi Vaccines Inc.), Pledge and Security Agreement (Alliqua BioMedical, Inc.), Pledge and Security Agreement (Paulson Capital (Delaware) Corp.)
Distributions on Pledged Shares. In the event that If any Distribution with respect to any Capital Securities pledged hereunder is permitted to be paid (in accordance with unless prohibited by Section 8.6 8.13 of the Credit Agreement), such Distribution or payment may be paid directly to the relevant applicable Grantor. If any Distribution is made in contravention of Section 8.6 8.13 of the Credit Agreement, the relevant such Grantor shall hold the same segregated and in trust for the Secured Party Agent until paid to the Secured Party Agent in accordance with Section 4.1.54.01(c).
Appears in 3 contracts
Samples: Security Agreement (Empire Resources Inc /New/), Security Agreement (Empire Resources Inc /New/), Credit Agreement (Empire Resources Inc /New/)
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 applicable Grantor. If any Distribution is made in contravention of Section 8.6 of the Credit Agreement, the relevant such Grantor shall hold the same segregated and in trust for the Secured Party Collateral Trustee until paid to the Secured Party Collateral Trustee in accordance with Section 4.1.5.
Appears in 2 contracts
Samples: Credit Agreement (Champion Enterprises Inc), Credit Agreement (Champion Enterprises Inc)
Distributions on Pledged Shares. In the event that any Distribution with respect to any Capital Securities Stock pledged hereunder is permitted to be paid (in accordance with Section 8.6 7.2.6 of the Credit Agreement), such Distribution or payment may be paid directly to the relevant applicable Grantor. If any Distribution is made in contravention of Section 8.6 7.2.6 of the Credit Agreement, the relevant such Grantor shall hold the same segregated and in trust for the Secured Party Collateral Agent until paid to the Secured Party Collateral Agent in accordance with Section 4.1.5.
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