Common use of Dividends and Distributions on Pledged Shares Clause in Contracts

Dividends and Distributions on Pledged Shares. Except as otherwise provided in the Credit Agreement (including but not limited to Section 5.10 thereof), all Dividends, Distributions, non-Dividend cash payments, and proceeds thereof paid or payable to Grantor must be paid directly to Administrative Agent (properly endorsed if required hereby or requested by Administrative Agent) as additional Collateral hereunder, unless and until Administrative Agent has terminated this Security Agreement as provided in Section 1.3. All Dividends, Distributions, cash payments, and proceeds that at any time and from time to time may be delivered to Grantor but which Grantor is then obligated to deliver to Administrative Agent, until delivery to Administrative Agent, must be held by Grantor (a) in trust for Administrative Agent and (b) separate, segregated and apart from its other property.

Dividends and Distributions on Pledged Shares. Except as otherwise provided in the Credit Agreement (including but not limited to Section 5.10 thereof)Agreement, all Dividends, Distributions, non-Dividend cash payments, and proceeds thereof paid or payable to any Grantor must be paid directly to Administrative Agent (properly endorsed if required hereby or requested by Administrative Agent) as additional Collateral hereunder, unless and until Administrative Agent has terminated this Security Agreement as provided in Section 1.3. All Dividends, Distributions, cash payments, and proceeds that at any time and from time to time may be delivered to any Grantor but which such Grantor is then obligated to deliver to Administrative Agent, until delivery to Administrative Agent, must be held by such Grantor (a) in trust for Administrative Agent and (b) separate, segregated and apart from its other property.