Common use of Dividends on Pledged Shares Clause in Contracts

Dividends on Pledged Shares. In the event that any Dividend is to be paid on any Pledged Share at a time when no Default has occurred and is continuing, such Dividend may be paid directly to the Pledgor. If any such Default has occurred and is continuing then any such Dividend shall be paid directly to the Lender.

Dividends on Pledged Shares. In the event that any Dividend is to be paid on any Pledged Share at a time when no Event of Default has occurred and is continuing, such Dividend may shall be paid directly to the PledgorPledgor and after such payment will not be deemed Collateral. If any such Event of Default has occurred and is continuing continuing, then any such Dividend shall be paid directly retained by the Pledgee as Collateral to the Lenderbe held and applied in accordance with Section 2.6 and 5.3 of this Pledge Agreement.

Dividends on Pledged Shares. In the event that any Dividend is to be paid on any Pledged Share at a time when no Event of Default has occurred and is continuing, such Dividend may shall be paid directly to the Pledgor. If any such Event of Default has occurred and is continuing continuing, then any such Dividend shall be paid directly to the LenderSecured Party.

Dividends on Pledged Shares. In the event that any Dividend is to be paid on any Pledged Share at a time when such Dividend is permitted by the Loan Agreement and no Event of Default exists, such Dividend or payment may be paid directly to the Pledgor free and clear of the liens created by this Pledge Agreement. If any such Event of Default has occurred and is continuing, such Dividend may be paid directly to the Pledgor. If any such Default has occurred and is continuing then any such Dividend or payment shall be paid directly to the LenderCollateral Agent.

Dividends on Pledged Shares. In the event that any Dividend is to be paid on any Pledged Share at a time when no Event of Default has occurred and is continuing, such Dividend may be paid directly to the Pledgor. If any such Default or Event of Default has occurred and is continuing continuing, then any such Dividend shall be paid directly to the LenderAdministrative Agent.