PAYMENTS AND OTHER DISTRIBUTIONS. Until the occurrence and continuance of an Event of Default and subject in all cases to the Intercreditor Agreement, all cash, dividends or distributions payable in respect of the Pledged Collateral (to the extent such payments shall be permitted pursuant to the terms and provisions of the Loan Agreement) shall be paid to the Pledgor; provided, however, upon the occurrence and during the continuance of an Event of Default, all cash dividends or distributions payable in respect of the Pledged Collateral shall be paid to the Pledgee as security for the Obligations if the Pledgee so directs and provides notice to the Pledgor to that effect; provided, further that upon the cure or waiver of such Event of Default, all cash dividends or distributions payable in respect of the Pledged Collateral shall be paid to the Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
PAYMENTS AND OTHER DISTRIBUTIONS. Unless and until an Event of Default (as defined in the Credit Agreement) shall occur and be continuing, all cash dividends or distributions payable in respect of the Pledged Collateral (to the extent such payments shall be permitted pursuant to the terms and provisions of the Credit Agreement) shall be paid to the Pledgor; provided, however, upon an Event of Default, all cash dividends or distributions payable in respect of the Pledged Collateral shall be paid to the Pledgee as security for the Secured Obligations; provided, further, that all cash dividends and distributions payable at any time (whether before or after an Event of Default) in respect of the Pledged Collateral which are determined by Pledgee, in its sole discretion, to represent in whole or in part an extraordinary, liquidating or other distribution in return of capital shall be promptly paid and delivered to the Pledgee and retained by the Pledgee as part of the Collateral. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
PAYMENTS AND OTHER DISTRIBUTIONS. Until the occurrence and continuance of a Default or Event of Default, all cash, dividends or distributions payable in respect of the Capital Stock (to the extent such payments shall be permitted pursuant to the terms and provisions of the Indenture) shall be paid to the applicable Grantor; provided, however, that upon written notice of the Collateral Agent (at the direction of the holders of the Notes) delivered after the occurrence and during the continuance of a Default or Event of Default, all cash dividends or distributions payable in respect of the Capital Stock shall be paid to the Collateral Agent as security for the Indenture Obligations; provided, further that upon the cure or waiver of such Default or Event of Default, all cash dividends or distributions payable in respect of the Capital Stock shall be paid to such Grantor. The Collateral Agent shall be entitled to receive directly, and to retain as part of the Collateral:
PAYMENTS AND OTHER DISTRIBUTIONS. Until the occurrence and continuance of an Event of Default, all cash, dividends or distributions payable in respect of the Capital Stock (to the extent such payments shall be permitted pursuant to the terms and provisions of the Indenture or the Intercreditor Agreement) shall be paid to the applicable Grantor; provided, however, that upon the occurrence and during the continuance of an Event of Default, all cash dividends or distributions payable in respect of the Capital Stock shall be paid to Collateral Agent as security for the Indenture Obligations; provided, further that upon the cure or waiver of such Event of Default, all cash dividends or distributions payable in respect of the Capital Stock shall be paid to such Grantor. The Collateral Agent shall be entitled to receive directly, and to retain as part of the Capital Stock:
PAYMENTS AND OTHER DISTRIBUTIONS. Until the occurrence and continuance of an Event of Default and subject in all cases to the Intercreditor Agreement, all cash, dividends or distributions payable in respect of the Pledged Collateral (to the extent such payments shall be permitted pursuant to the terms and provisions of the Indenture) shall be paid to the applicable Pledgor; provided, however, upon the occurrence and during the continuance of an Event of Default, all cash, dividends or distributions payable in respect of the Pledged Collateral shall be paid to the Pledgee as security for the Obligations if the Pledgee so directs and provides notice to such Pledgor to that effect (it being understood and agreed that such Pledgor shall retain the right, whether an Event of Default is outstanding, to receive all cash, dividends or distributions payable in respect of the Excluded Capital Stock so long as the cash, dividends or distributions payable in respect of the Excluded Capital Stock are made on a pro rata basis with the Capital Stock (of the Issuer of such Excluded Capital Stock) that constitute Pledged Collateral applicable to such Pledgor); provided further, that upon the cure or waiver of such Event of Default, all cash dividends or distributions payable in respect of the Pledged Collateral shall be paid to such Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
PAYMENTS AND OTHER DISTRIBUTIONS. Unless an Event of Default shall have occurred and be continuing, all cash Distributions payable in respect of the Pledged Securities (other than Exempt Instruments) shall be paid to the Company, provided that all cash Distributions payable in respect of the Pledged Securities which are determined by the Collateral Agent, in its reasonable discretion, to represent in whole or in part a payment of principal thereon or an extraordinary, liquidating or other distribution in return of capital (or which, in the absence of any such determination by the Collateral Agent, shall constitute such a distribution), shall be paid to the Collateral Agent, deposited by it in the Collateral Account and retained by it as part of the Collateral. The Collateral Agent shall at all times be entitled to receive directly, and to retain as part of the Collateral:
PAYMENTS AND OTHER DISTRIBUTIONS. Unless and until an Event of Default (as defined in the Loan Agreement) occurs, all cash distributions payable in respect of the Pledged Collateral shall be paid to the Pledgor. All such rights of the Pledgor to receive such cash distributions shall cease in case an Event of Default shall occur and the Pledgee elects to enforce its rights against the Pledged Collateral and so directs and notifies the Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the Collateral:
PAYMENTS AND OTHER DISTRIBUTIONS. Unless an Event of Default (as defined) shall have occurred and be continuing, all cash or other amounts payable in respect of the Collateral shall be used by 7th Level for working capital requirements, general corporate purposes or other valid business purposes.
PAYMENTS AND OTHER DISTRIBUTIONS. Until the occurrence and continuance of an Event of Default, all cash, dividends or distributions payable in respect of the Pledged Securities (to the extent such payments shall be permitted pursuant to the terms and provisions of the Indenture) shall be paid to the applicable Grantor; provided, however, upon the occurrence and during the continuance of an Event of Default, all cash dividends or distributions payable in respect of the Pledged Securities shall be paid to the Collateral Agent as security for the Obligations if the Collateral Agent so directs and provides notice to such Grantor to that effect; provided, further that upon the cure or waiver of such Event of Default, all cash dividends or distributions payable in respect of the Pledged Securities shall be paid to such Grantor. The Collateral Agent shall be entitled to receive directly, and to retain as part of the Pledged Securities:
PAYMENTS AND OTHER DISTRIBUTIONS. Unless and until an Event of Default shall occur and is continuing, all cash dividends or other distributions payable in respect of the Pledged Collateral shall be paid to the Pledgor; provided, however, if an Event of Default has occurred and is continuing, all cash dividends or other distributions payable in respect of the Pledged Collateral shall be paid to the Pledgee for application to the Secured Obligations; provided, further, that all cash dividends and other distributions payable at any time (whether before or after an Event of Default) in respect of the Pledged Collateral which are determined by Pledgee, in its sole discretion, to represent in whole or in part an extraordinary, liquidating or other distribution in return of capital shall be promptly paid and delivered to the Pledgee and applied to the Secured Obligations.
