Dividends; Interest. Unless an Event of Default has occurred and is continuing, the Borrower shall be entitled to receive any and all cash dividends, interest, principal payments and other forms of cash distribution on the Pledged Shares which it is otherwise entitled to receive, but any and all stock and/or liquidating dividends, distributions of property, returns of capital or other distributions made on or with respect to the Pledged Shares, whether resulting from a subdivision, combination or reclassification of the outstanding capital stock of any Pledged Issuer or received in exchange for the Pledged Shares or any part thereof or as a result of any amalgamation, merger, consolidation, acquisition or other exchange of property to which any Pledged Issuer may be a party or otherwise, and any and all cash and other property received in exchange for any Pledged Shares shall be and become part of the Collateral subject to the Security Interests and, if received by the Borrower, shall forthwith be delivered to the Administrative Agent or its nominee (accompanied, if appropriate, by proper instruments of assignment and/or stock powers of attorney executed by the Borrower in accordance with the Administrative Agent's instructions) to be held subject to the terms of this Agreement; and if any of the Pledged Security Certificates have been registered in the name of the Administrative Agent or its nominee, the Administrative Agent shall execute and deliver (or cause to be executed and delivered) to the Borrower all such dividend orders and other instruments as the Borrower may request for the purpose of enabling the Borrower to receive the dividends, distributions or other payments which the Borrower is authorized to receive and retain pursuant to this Section. If an Event of Default has occurred and is continuing, all rights of the Borrower pursuant to this Section shall cease and the Administrative Agent shall have the sole and exclusive right and authority to receive and retain the cash dividends, interest, principal payments and other forms of cash distribution which the Borrower would otherwise be authorized to retain pursuant to this Section. Any money and other property paid over to or received by the Administrative Agent pursuant to the provisions of this Section shall be retained by the Administrative Agent as additional Collateral hereunder and be applied in accordance with the provisions of this Agreement.
Dividends; Interest. No shareholder of the Company will be entitled to receive dividends on his or her Zions Bancorp Stock until he or she exchanges his or her certificates representing Company Common Stock for Zions Bancorp Stock. Any dividends declared on Zions Bancorp Stock (which stock is to be delivered pursuant to this Agreement) to holders of record on or after the Effective Date shall be paid to the Exchange Agent (as designated in Section 3.4 of this Agreement) and, upon receipt of the certificates representing shares of Company Common Stock, the Exchange Agent shall forward to the former shareholders entitled to receive Zions Bancorp Stock (i) certificates representing their shares of Zions Bancorp Stock, (ii) dividends declared thereon subsequent to the Effective Date (without interest) and (iii) the cash value of any fractional shares determined in accordance with Section 3.2 hereof.
Dividends; Interest. No shareholder of the Company will be entitled to receive dividends on his or her Zions Bancorp Stock until he or she exchanges his or her certificates representing Company Common Stock for Zions Bancorp Stock. Any dividends declared on Zions Bancorp Stock to holders of record on or after the Effective Date shall, with respect to stock to be delivered pursuant to this Agreement to shareholders of the Company who have not exchanged their certificates representing Company Common Stock for Zions Bancorp Stock, be paid to the Exchange Agent (as designated in Section 3.4 of this Agreement) and, upon receipt from a former shareholder of the Company of certificates representing shares of Company Common Stock, the Exchange Agent shall forward to such former shareholder of the Company (i) certificates representing his or her shares of Zions Bancorp Stock, (ii) dividends declared thereon subsequent to the Effective Date (without interest) and (iii) the cash value of any fractional shares determined in accordance with Section 3.2 hereof.
Dividends; Interest. No shareholder of LABN will be entitled to receive dividends on his, her or its NBTB Common Stock until he, she or it exchanges his, her or its certificates representing LABN Common Stock for NBTB Common Stock. Any dividends declared on NBTB Common Stock to holders of record on or after the Effective Time shall, with respect to stock to be delivered pursuant to this Agreement to shareholders of LABN who have not exchanged their certificates representing LABN Common Stock for NBTB Common Stock, be paid to the Exchange Agent (as designated in section 1.6 of this Agreement) and, upon receipt from a former shareholder of LABN of certificates representing shares of LABN Common Stock, the Exchange Agent shall forward to such former shareholder of LABN (i) certificates representing his, her or its shares of NBTB Common Stock, (ii) dividends declared thereon subsequent to the Effective Time (without interest) and (iii) the cash value of any fractional shares determined in accordance with section 1.4 hereof.
Dividends; Interest. No stockholder of CNB entitled to receive NBT Common Stock in the Holding Company Merger will be entitled to receive dividends or distributions on his or her NBT Common Stock until he, she, or it exchanges his, her, or its Old Certificates for NBT Common Stock. The portion of any dividends or distributions declared on NBT Common Stock at or after the Effective Time which relates to shares to be delivered pursuant to this Agreement in exchange for Old Certificates not so exchanged at the payment date of such dividend or distribution shall not be paid to the holders of such Old Certificates, but shall be paid to the Exchange Agent. Upon receipt from such a former stockholder of CNB of Old Certificates, together with other documentation required pursuant to section 2.7 to effect the exchange of such Old Certificates for certificates representing shares of NBT Common Stock, the Exchange Agent shall forward to such former stockholder of CNB, in addition to the certificates representing his, her, or its shares of NBT Common Stock and the cash value of any fractional shares determined in accordance with section 2.5 hereof, all dividends and distributions declared thereon subsequent to the Effective Time (without interest).
Dividends; Interest. A. Rate and Annual Percentage Yield (“APY”). Certain of your account(s) will earn what are known as dividends. Refer to Sections V thru XII for information regarding the account(s) you have selected and our current Investment Rates schedule for our current dividend rates and Annual Percentage Yield. Dividends are like interest, except that the Credit Union’s Board of Directors (the “Board”) are responsible for setting the rate of dividends from time to time. Dividends are not guaranteed. The Credit Union estimates a prospective dividend rate and prospective Annual Percentage Yield (APY) on your account(s) for each dividend period. The dividend rates and APYs will be available each business day at our office. You may also contact us at (000) 000-0000, toll-free at (000) 000-0000 or www. XxxxxxxxxXxxxXXX.xxx for rate information.
Dividends; Interest. No shareholder of PAHC will be entitled to receive dividends on his, her or its NBTB Common Stock until he, she or it exchanges his, her or its certificates representing PAHC Common Stock for NBTB Common Stock. Any dividends declared on NBTB Common Stock to holders of record on or after the Effective Time shall, with respect to stock to be delivered pursuant to this Agreement to shareholders of PAHC who have not exchanged their certificates representing PAHC Common Stock for NBTB Common Stock, be paid to the Exchange Agent (as designated in section 1.8 of this Agreement) and, upon receipt from a former shareholder of PAHC of certificates representing shares of PAHC Common Stock, the Exchange Agent shall forward to such former shareholder of PAHC (i) certificates representing his, her or its shares of NBTB Common Stock, (ii) dividends declared thereon subsequent to the Effective Time (without interest) and (iii) the cash value of any fractional shares determined in accordance with section 1.6 hereof.
Dividends; Interest. A. Rate and Annual Percentage Yield (“APY”). Your account(s) may earn what are known as dividends. Refer to our current Investment Rates schedule for our current dividend rates and Annual Percentage Yield. Dividends are like interest, except that the Credit Union’s Board of Directors (the “Board”) are responsible for setting the rate of dividends from time to time. Dividends are not guaranteed. The Credit Union estimates a prospective dividend rate and prospective Annual Percentage Yield (APY) on your account(s) for each dividend period. The dividend rates and APYs will be available each business day at our office. You may also contact us at (000) 000-0000 or toll-free (000) 000-0000 for rate information.
B. Calculating and Compounding Dividends and Interest. Dividends and interest are calculated by the daily balance method, which applies a daily periodic rate to the balance in an account each day. We compound your dividends, even though the law doesn’t require that. Compounding is more favorable to you, because once dividends have been earned by your account they are added to the balance on which you will continue to earn dividends. Because we compound dividends, the actual yield on your account will be somewhat higher than the annual dividend rate.
X. Xxxxxxx and Crediting of Dividends. Dividends on all accounts that earn them are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Dividends will begin to accrue on the business day you deposit non-cash items (for example, checks) to your account. Dividends are not available to you until they have been credited to your account. Dividends that are credited to your account will be added directly into your account. If you close your account before dividends are paid, you will not receive the accrued dividends.
Dividends; Interest. A. Rate and Annual Percentage Yield (“APY”). Your Account(s) except as otherwise noted will earn what are known as dividends. The words “dividend” and “interest” may be used interchangeably in this Agreement. Refer to our current Rate page and Fee Schedule for our current dividend rates. Dividends are like interest, except that the Credit Union sets the rate of dividends from time to time. Dividends are not guaranteed. The Credit Union estimates a prospective dividend rate and prospective annual percentage yield (APY) on your Account(s) for each dividend period. Your accounts, except for certificate or term accounts, are variable rate accounts. The dividend rate and APY may change at any time as determined by the Credit Union. Refer to the Rates Page for current interest rates and Annual Percentage Yield. The dividend rates will be available each business day at our office. You may also call Member Services at 800.664.3828 for current rates, or view our savings rates at XxxxxxxxXxxxx.xxx.
Dividends; Interest. No shareholder of the Company entitled to receive Zions Bancorp Stock in the Holding Company Merger will be entitled to receive dividends on his or her Zions Bancorp Stock until he or she exchanges his or her certificates representing Company Common Stock for Zions Bancorp Stock. Any dividends declared on Zions Bancorp Stock to holders of record on or after the Effective Date shall, with respect to stock to be delivered pursuant to this Agreement to such shareholders of the Company who are entitled to exchange and have not exchanged their certificates representing Company Common Stock for Zions Bancorp Stock, be paid to the Exchange Agent (as designated herein) and, upon receipt from such a former shareholder of the Company of certificates representing shares of Company Common Stock, the Exchange Agent shall forward to such former shareholder of the Company (a) certificates representing his or her shares of Zions Bancorp Stock, (b) dividends declared thereon subsequent to the Effective Date (without interest), (c) the cash value of any fractional shares determined in accordance with section 3.2 of this Agreement, and (d) the cash portion of the Consideration to which such shareholder is entitled.
