Common use of DIVIDEND DISBURSEMENT Clause in Contracts

DIVIDEND DISBURSEMENT. (a) Equity shall disburse dividends and other distributions which may be declared from time to time on the shares of the Issuer, and Equity is hereby authorized and directed to pay such dividends and other distributions after receipt at its principal office of: (i) a certified copy of the resolution of the board of directors of the Issuer declaring such dividends or other distributions or similar documentation that is acceptable to Equity, and (ii) funds in an amount sufficient for the payment of such dividends. (b) If any funds are received by Equity in the form of uncertified cheques, Equity shall be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawn. If Equity shall hold any amount on account of distributions which are unclaimed or which cannot be paid for any reason, Equity shall be entitled to hold the funds in an interest bearing account and to retain for its own account any interest earned by the holding of same prior to its disposition in accordance with this Agreement.

DIVIDEND DISBURSEMENT. (a) Equity INTEGRAL shall disburse dividends and other distributions which may be declared from time to time on the shares of the Issuer, and Equity INTEGRAL is hereby authorized and directed to pay such dividends and other distributions after receipt at its principal office of: (i) I. a certified copy of the resolution of the board Board of directors Directors of the Issuer declaring such dividends or other distributions or similar documentation that is acceptable to Equity, INTEGRAL; and (ii) II. funds in an amount sufficient for the payment of such dividends. (b) If any funds are received by Equity INTEGRAL in the form of uncertified cheques, Equity INTEGRAL shall be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawn. If Equity INTEGRAL shall hold any amount on account of distributions which are unclaimed or which cannot be paid for any reason, Equity INTEGRAL shall be under no obligation to invest or reinvest the same but shall only be obligated to hold same in a current or other non-interest bearing account pending payment to the person or persons entitled thereto, and shall be entitled to hold the funds in an interest bearing account and to retain for its own account any interest benefit earned by the holding of same prior to its disposition in accordance with this Agreement.

DIVIDEND DISBURSEMENT. (a) Equity shall disburse dividends and other distributions which may be declared from time to time on the shares units of the IssuerPartnership, and Equity is hereby authorized and directed to pay such dividends and other distributions after receipt at its principal office of: (i) a certified copy of the resolution of the board of directors of the Issuer Partnership declaring such dividends or other distributions or similar documentation that is acceptable to Equity, and (ii) funds in an amount sufficient for the payment of such dividends. (b) If any funds are received by Equity in the form of uncertified cheques, Equity shall be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawn. If Equity shall hold any amount on account of distributions which are unclaimed or which cannot be paid for any reason, Equity shall be entitled to hold the funds in an interest bearing account and to retain for its own account any interest earned by the holding of same prior to its disposition in accordance with this Agreement.