Common use of Extraordinary Payments and Distributions Clause in Contracts

Extraordinary Payments and Distributions. (a) In case, upon the dissolution or liquidation (in whole or in part) of any issuer of any Pledged Collateral, any sum shall be paid or payable as a liquidating dividend or distribution or return of capital or otherwise upon or with respect to any of the Pledged Securities of a Pledgor or, in the event any other Extraordinary Payment is paid or payable, then and in any such event, such sum shall be paid over to the Agent promptly, and in any event within one (1) Business Day after receipt thereof, to be held by the Agent as additional collateral hereunder or, if no Event of Default shall be continuing, to be applied to the Revolving Loans.

Extraordinary Payments and Distributions. (a) In case, upon the dissolution or liquidation (in whole or in part) of any issuer of any Pledged Collateral, any sum shall be paid or payable as a liquidating dividend or distribution or return of capital or otherwise upon or with respect to any of the Pledged Securities of a Pledgor or, in the event any other Extraordinary Payment is paid or payable, then and in any such event, such sum shall be paid over to the Agent promptly, and in any event within one two (12) Business Day Days after receipt thereof, to be held by the Agent as additional collateral hereunder or, if no Event of Default shall be continuing, to be applied to the Revolving Loanshereunder.

Extraordinary Payments and Distributions. (a) In case, upon the dissolution or liquidation (in whole or in part) of any issuer of any Pledged Collateral, any sum shall be paid or payable as a liquidating dividend or distribution or return of capital or otherwise upon or with respect to any of the Pledged Securities of a Pledgor or, in the event any other Extraordinary Payment is paid or payable, then and in any such event, such sum sum, subject to the Intercreditor Agreement, shall be paid over to the Administrative Agent promptly, and in any event within one (1) Business Day after receipt thereof, to be held by the Administrative Agent as additional collateral hereunder or, if no Event of Default shall be continuing, to be applied to the Revolving Loanshereunder.

Extraordinary Payments and Distributions. (a) In case, upon the dissolution or liquidation (in whole or in part) of any issuer of any Pledged CollateralCollateral pledged by any Pledgor, any sum shall be paid or payable as a liquidating dividend or distribution or return of capital or otherwise upon or with respect to any of the Pledged Securities of a pledged by such Pledgor or, in the event any other Extraordinary Payment is paid or payable, then and in any such event, such sum shall be paid by such Pledgor over to the Agent promptly, and in any event within one ten (110) Business Day days after receipt thereof, to be held by the Agent as additional collateral hereunder or, if no Event of Default shall be continuing, to be applied to the Revolving Loanshereunder.