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 Event of Default has occurred and is continuing, such Dividend shall be paid directly to the Pledgor and after such payment will not be deemed Collateral. If any such Event of Default has occurred and is continuing, then any such Dividend shall be retained by the Pledgee as Collateral to be 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 or securities entitlement at a time when (x) no Default has occurred and is continuing, and no (y) Event of Default has occurred and is continuing, such Dividend shall or payment may be paid directly to the Pledgor and after such payment will not be deemed CollateralPledgor. If any such Default or Event of Default has occurred and is continuing, then any such Dividend or payment shall be retained by the Pledgee as paid directly to Collateral to be held and applied in accordance with Section 2.6 and 5.3 of this Pledge AgreementAgent.

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 has occurred and is continuingexists, such Dividend shall or payment may be paid directly to the Pledgor free and after such payment will not be deemed Collateralclear of the liens created by this Pledge Agreement. If any such Event of Default has occurred and is continuing, then any such Dividend or payment shall be retained by paid directly to the Pledgee as Collateral to be held and applied in accordance with Section 2.6 and 5.3 of this Pledge AgreementAgent.

Dividends on Pledged Shares. In the event that any Dividend is to be paid on any Pledged Share or securities Exhibit M - 6 168 entitlement at a time when (x) no Default has occurred and is continuing, and no (y) Event of Default has occurred and is continuing, such Dividend shall or payment may be paid directly to the Pledgor and after such payment will not be deemed CollateralPledgor. If any such Default or Event of Default has occurred and is continuing, then any such Dividend or payment shall be retained by the Pledgee as paid directly to Collateral to be held and applied in accordance with Section 2.6 and 5.3 of this Pledge AgreementAgent.

Dividends on Pledged Shares. In the event that any Dividend is to be paid on any Pledged Share or securities Exhibit M - 6 162 entitlement at a time when (x) no Default has occurred and is continuing, and no (y) Event of Default has occurred and is continuing, such Dividend shall or payment may be paid directly to the Pledgor and after such payment will not be deemed CollateralPledgor. If any such Default or Event of Default has occurred and is continuing, then any such Dividend or payment shall be retained by the Pledgee as paid directly to Collateral to be held and applied in accordance with Section 2.6 and 5.3 of this Pledge AgreementAgent.