Common use of Distributions, Other Certificates, etc Clause in Contracts

Distributions, Other Certificates, etc. If any Executive Investor becomes entitled to receive or receives any securities or other property with respect to, in substitution of, or in exchange for any of such Executive Investor's Pledged Shares (whether as a distribution in connection with any recapitalization, reorganization or reclassification, a stock dividend or otherwise), or any certificate(s) representing any of such Executive Investor's Pledged Shares, such Executive Investor shall accept such securities, property, or certificate(s) on behalf of and for the benefit of the New Capital Investor as additional security for such Executive Investor's obligations hereunder and shall promptly deliver such additional security to the New Capital Investor together with duly executed forms of assignment, and such additional security shall be deemed to be part of such Executive Investor's Pledged Shares.

Appears in 3 contracts

Samples: Vesting Agreement (Focal Communications Corp), Vesting Agreement (Focal Communications Corp), Vesting Agreement (Focal Communications Corp)

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Distributions, Other Certificates, etc. If any Executive --------------------------------------- Investor becomes entitled to receive or receives any securities or other property with respect to, in substitution of, or in exchange for any of such Executive Investor's Pledged Shares (whether as a distribution in connection with any recapitalization, reorganization or reclassification, a stock dividend or otherwise), or any certificate(s) representing any of such Executive Investor's Pledged Shares, such Executive Investor shall accept such securities, property, or certificate(s) on behalf of and for the benefit of the New Capital Investor as additional security for such Executive Investor's obligations hereunder and shall promptly deliver such additional security to the New Capital Investor together with duly executed forms of assignment, and such additional security shall be deemed to be part of such Executive Investor's Pledged Shares.

Appears in 1 contract

Samples: Stock Purchase Agreement (Focal Communications Corp)

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