Dividend Account Sample Clauses
A Dividend Account clause establishes a designated account for the receipt and distribution of dividends related to shares or investments. Typically, this clause outlines how dividends paid by a company are to be deposited into a specific account, which may be managed by a trustee or agent on behalf of shareholders or beneficiaries. By clearly defining the process and location for handling dividend payments, the clause ensures transparency, proper allocation, and efficient management of funds, thereby reducing the risk of disputes or misallocation.
Dividend Account. (a) No later than the Closing Date, on behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, the Dividend Account which shall be an Eligible Account. The investment of funds in the Dividend Account shall be as provided in Section 3.12.
(b) On each Servicer Remittance Date, the Servicer shall deposit into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan that was due during the related Due Period, to the extent received by the Servicer on or prior to the related Determination Date. On each Servicer Remittance Date, the Trustee shall deposit or cause to be deposited into the Dividend Account an amount equal to the applicable Dividend Portion of each Monthly Payment on each Dividend Mortgage Loan, to the extent advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b); provided, however, that the Servicer may net such amount from the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b), and instead deposit such amount directly into the Dividend Account on the Servicer Remittance Date, such deposit to be deemed an Advance for all purposes hereunder. If any portion of the amount otherwise required to be advanced by the Servicer to the Trustee as part of the Advances remitted to the Trustee by the Servicer pursuant to Section 4.04(b) is instead to be deposited by the Servicer directly into the Dividend Account, then the Remittance Report of the Servicer to the Trustee required to be delivered pursuant to Section 4.04(a) shall so indicate.
(c) The Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to refund to the related Mortgagor the Dividend Portions of Monthly Payments made by such Mortgagor, at the times and subject to the conditions set forth in the related Mortgage Note, but only from amounts previously deposited into the Dividend Account in respect of such Dividend Mortgage Loan. In addition, the Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortg...
Dividend Account. The Transfer Agent will maintain a Dividend Account for the Fund. This account shall be established and operated so as to satisfy the following criteria:
1. This account shall be used to disburse cash in payment of dividends, capital gain distributions and returns of capital.
2. This account shall be operated in the same manner as the Redemption Account (see below) except as otherwise required by the purpose for which it shall be used; it may, at the election of the Transfer Agent, be operated as a combined account with the Redemption Account (see below).
Dividend Account. The Dividend Account shall only hold deposits in an amount sufficient for CatchMark Timber to make dividends, distributions or other payments to its shareholders permitted under Section 7.2.6(x) or (y) which have been declared but not made.
Dividend Account. The Corporation shall cause an account (the “Dividend Account”) to be established and maintained as part of the records of the Corporation to evidence the aggregate cash dividend equivalents accrued by the Employee from time to time under this Section. If the Corporation pays a cash dividend on the Corporation Stock, the Employee shall accrue in his or her Dividend Account a cash dividend equivalent with respect to the Restricted Stock Units covered by this Award as of the record date for the dividend, with each Restricted Stock Unit being equivalent to one share of Corporation Stock. No interest shall accrue on any amounts reflected in the Dividend Account. Subject to, and as promptly as practicable following, the vesting of the Restricted Stock Units, the Corporation shall pay an amount in cash (without interest and subject to applicable withholding taxes) to the Employee equal to the aggregate cash dividend equivalents accrued in the Employee’s Dividend Account. In the event that the Employee forfeits Employee’s rights to the Restricted Stock Units, the Employee also shall be deemed to have forfeited Employee’s rights to any cash dividend equivalents accrued in the Employee’s Dividend Account.
Dividend Account. The Committee shall establish and maintain, for the Participant, a separate Dividend Account to record the undistributed Dividend Amounts of the Participant.
Dividend Account. The Participant shall have a vested (non-forfeitable) right to the amount credited to his Dividend Account equal to: (1) the product of (a) the total of all Dividend Amounts to which the Participant has become entitled (including portions of such Dividend Amounts which have been distributed to the Participant), multiplied by (b) the Participant's Vesting Percentage (as determinedunder Section 6.1(A); less
Dividend Account. Springs will establish a dividend account in respect of the stock portion of Participant's Award that is deferred as Deferred Stock under this ss.8. The dividend account will be credited with dividend equivalents and interest in accordance with the following procedures:
(i) As of the payment date for each dividend paid on the Common Stock with a record date occurring after the date of crediting Deferred Stock under this ss.8 and prior to the final distribution from the Participant's dividend account, there shall be credited to Participant's dividend account an amount determined by multiplying the amount of the cash dividend per share of Common Stock declared for such dividend record date by the number of shares of Deferred Stock credited to Participant and which have not been distributed to Participant as of the record date. Amounts equivalent to dividends which are credited to Participant's dividend account hereunder shall be distributed as provided in paragraph (c) below.
Dividend Account. 82 ARTICLE IV FLOW OF FUNDS SECTION 4.01. Distributions..................................................................................85 SECTION 4.02. Reserved.......................................................................................90 SECTION 4.03. Statements.....................................................................................90 SECTION 4.04. Remittance Reports; Advances...................................................................93 SECTION 4.05. [Reserved].....................................................................................95 SECTION 4.06. [Reserved].....................................................................................95 SECTION 4.07. Distributions on the REMIC Regular Interests...................................................95 SECTION 4.08. Allocation of Realized Losses..................................................................96 ARTICLE V THE CERTIFICATES SECTION 5.01. The Certificates...............................................................................98 SECTION 5.02. Registration of Transfer and Exchange of Certificates..........................................98 SECTION 5.03. Mutilated, Destroyed, Lost or Stolen Certificates.............................................103 SECTION 5.04. Persons Deemed Owners.........................................................................104 SECTION 5.05. Appointment of Paying Agent...................................................................104
Dividend Account. (a) At least 30 days prior to the declaration of any Dividends arising from or out of the Must Have Limited Shares, the Borrower shall open the Dividend Account and shall provide notice in writing to the Security Trustee of all relevant details in respect of such Dividend Account.
(b) During the Security Period, the Borrower shall immediately upon receipt pay into the Dividend Account all payments of Dividends arising from or out of the Must Have Limited Shares.
(c) The Security Trustee shall have sole signing rights in relation to the Dividend Account.
(d) Save with the prior written consent of the Security Trustee, the Borrower may not withdraw all or any monies from time to time standing to the credit of the Dividend Account.
(e) Following the time at which this deed becomes enforceable in accordance with clause 11.1, the Security Trustee may in its sole discretion apply any amounts standing to the credit of the Dividend Account in such manner as it sees fit.