INVESTMENT OF DIVIDENDS Sample Clauses

INVESTMENT OF DIVIDENDS. (a) During the term of this Custodian Agreement, Custodian shall deposit all cash dividends and other monetary amounts payable after the date hereof with respect to the Group 1 Custodian Shares, the Group 2 Forfeitable Custodian Shares and/or the Group 3 Forfeitable Custodian Shares, if any, in an insured money market account with Custodian, or in such other accounts or investments as Buyer and Paying Agent may from time to time designate by joint written notice of such parties to Custodian. Any and all stock dividends and distributions payable with respect to the Group 1 Custodian Shares, the Group 2 Forfeitable Custodian Shares and/or the Group 3 Forfeitable Custodian Shares shall be held in the name of Custodian in accordance with the terms of this Custodian Agreement, which dividends and distributions shall be included in the definition of the terms "Group 1 Custodian Shares," "Group 2 Forfeitable Custodian Shares" and "Group 3 Forfeitable Custodian Shares," as applicable, as such terms are used in this Agreement. (b) Custodian shall have the right to liquidate any investments in which such cash dividends and other monetary amounts payable with respect to the Group 1 Custodian Shares, the Group 2 Forfeitable Custodian Shares and the Group 3 Forfeitable Custodian Shares are held in order to provide funds necessary to make required payments under this Custodian Agreement. Custodian shall not be liable for any loss upon such liquidation which is due to fluctuations in the market rates applicable to investments of any such monetary amounts or penalties incurred because of early redemption.
Sample 1
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INVESTMENT OF DIVIDENDS. Not Applicable Dividend Recovery: If (a) the amount actually paid or delivered by the Issuer to holders of record of the Shares in respect of any gross cash dividend declared by the Issuer to holders of record of the Shares (a “Declared Dividend”) is not equal to that Declared Dividend (a “Dividend Mismatch Event”) or (b) the Issuer fails to make any payment or delivery in respect of that Declared Dividend by the third Currency Business Day following the relevant due date, then in either case the Equity Amount Payer may (but is not obliged to) require the Calculation Agent to determine: any appropriate adjustment or repayment (including any interest payable thereon) to be made by a party to account for that Dividend Mismatch Event or non-payment or non-delivery, as the case may be; and the date that repayment should be made and/or the effective date of such adjustment. If such an adjustment or repayment is made in accordance with the foregoing provisions of this section and the Issuer subsequently makes the relevant payment or delivery in respect of the Declared Dividend (after the third Currency Business Day following the relevant due date) to recipients that were holders of record of the Shares on the relevant record date on which the dividend was declared, then the Calculation Agent shall determine: any appropriate adjustment or payment (including any interest payable thereon) to be made by a party to account for that subsequent payment or delivery, as the case may be; and the date that payment should be made and/or the effective date of such adjustment. The provisions of this section titled “Dividend Recovery” shall apply and remain in full force and effect even if the Termination Date has occurred. Method of Adjustment: Calculation Agent Adjustment Consequences of Merger Events: Share-for-Share: Alternative Obligation [; provided that Section 12.2(a) of the Equity Definitions is hereby amended by deleting the phrase “, provided, however, that no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relevant to the Shares or the Transaction,” and replacing it with the phrase “, including adjustments to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relevant to the Shares or the Transaction”]5 Share-for-Other: Cancellation and Payment Share-for-Combined: Component Adjustment Tender Offer: Applicable Consequences of Tender Offers: Share-for-Share:...
Sample 1
INVESTMENT OF DIVIDENDS. Any investment of dividends in the Company Stock Fund shall not be treated as an annual addition for the purposes of Code § 415, as an elective contribution for purposes of Code § 401(k), or as a matching contribution or employee contribution for purposes of Code § 401(m).
Sample 1

Related to INVESTMENT OF DIVIDENDS

  • Payment of Dividends Any dividend or other distribution payable in cash in respect of shares may be paid by cheque, made payable to the order of the person to whom it is sent, and mailed to the address of the shareholder, or in the case of joint shareholders, to the address of the joint shareholder who is first named on the central securities register, or to the person and to the address the shareholder or joint shareholders may direct in writing. The mailing of such cheque will, to the extent of the sum represented by the cheque (plus the amount of the tax required by law to be deducted), discharge all liability for the dividend unless such cheque is not paid on presentation or the amount of tax so deducted is not paid to the appropriate taxing authority.

  • PAYMENT OF DIVIDENDS OR DISTRIBUTIONS 1. Whenever the Fund shall determine to pay a dividend or distribution on Shares it shall furnish to Custodian Instructions or a Certificate setting forth with respect to the Series specified therein the date of the declaration of such dividend or distribution, the total amount payable, and the payment date. 2. Upon the payment date specified in such Instructions or Certificate, Custodian shall pay out of the money held for the account of such Series the total amount payable to the dividend agent of the Fund specified therein.

  • Accrual of Dividends For all Accounts, dividends will begin to accrue on noncash deposits (e.g., checks) on the business day you make the deposit to Your Account.

  • Stock Dividends and Distributions In case the Company shall pay a dividend in, or make a distribution of, shares of Common Stock or of the Company's capital stock convertible into Common Stock, the Exercise Price shall forthwith be proportionately decreased. An adjustment made pursuant to this Section 8.2 shall be made as of the record date for the subject stock dividend or distribution.

  • Liquidating Dividends If the Company declares or pays a dividend upon the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a “Liquidating Dividend”), then the Company shall pay to the Registered Holder of this Warrant at the time of payment thereof the Liquidating Dividend which would have been paid to such Registered Holder on the Warrant Stock had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends are to be determined.

  • Cash Dividends or Distributions If any cash dividend or distribution is made to all or substantially all holders of Common Stock, then the Conversion Rate will be increased based on the following formula: where: CR0 = the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such dividend or distribution; CR1 = the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date; SP = the Last Reported Sale Price per share of Common Stock on the Trading Day immediately before such Ex-Dividend Date; and D = the cash amount distributed per share of Common Stock in such dividend or distribution; provided, however, that if D is equal to or greater than SP, then, in lieu of the foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such dividend or distribution, at the same time and on the same terms as holders of Common Stock, and without having to convert its Notes, the amount of cash that such Holder would have received if such Holder had owned, on such record date, a number of shares of Common Stock equal to the Conversion Rate in effect on such record date. To the extent such dividend or distribution is declared but not made or paid, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the adjustment been made on the basis of only the dividend or distribution, if any, actually made or paid.

  • Stock Dividends, Distributions, Etc If, while this Pledge Agreement is in effect, Pledgor becomes entitled to receive or receives any securities or other property in addition to, in substitution of, or in exchange for any of the Pledged Shares (whether as a distribution in connection with any recapitalization, reorganization or reclassification, a stock dividend or otherwise), Pledgor shall accept such securities or other property on behalf of and for the benefit of the Company as additional security for Pledgor's obligations under the Note and shall promptly deliver such additional security to the Company together with duly executed forms of assignment, and such additional security shall be deemed to be part of the Pledged Shares hereunder.

  • DIVIDENDS, DISTRIBUTIONS Declare or pay any dividend or distribution either in cash, stock or any other property on Borrower's stock now or hereafter outstanding, nor redeem, retire, repurchase or otherwise acquire any shares of any class of Borrower's stock now or hereafter outstanding.

  • Adjustment for Other Dividends and Distributions If the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) make or issue or set a record date for the determination of holders of Common Stock entitled to receive a dividend or other distribution payable in other than shares of Common Stock, then, and in each event, an appropriate revision to the applicable Conversion Price shall be made and provision shall be made (by adjustments of the Conversion Price or otherwise) so that the Holder of this Note shall receive upon conversions thereof, in addition to the number of shares of Common Stock receivable thereon, the number of securities of the Maker or other issuer (as applicable) or other property that it would have received had this Note been converted into Common Stock in full (without regard to any conversion limitations herein) on the date of such event and had thereafter, during the period from the date of such event to and including the Conversion Date, retained such securities (together with any distributions payable thereon during such period) or assets, giving application to all adjustments called for during such period under this Section 3.4(a)(iii) with respect to the rights of the holders of this Note; provided, however, that if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Conversion Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

  • Adjustment for Certain Dividends and Distributions In the event the Company at any time, or from time to time after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in additional shares of Common Stock, then and in each such event the Purchase Price then in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Purchase Price then in effect by a fraction: (1) the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (2) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; provided, however, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Purchase Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Purchase Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

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