Common use of Periodic Distributions Clause in Contracts

Periodic Distributions. Whenever (and to the extent) the Trust receives any cash payments representing a [Dividend][Interest Payment][other payment] or redemption on the [Company Preferred Securities][Subordinated Notes][Eligible Investments], or payments from the Guarantor pursuant to the Subordinated Guarantee, the Trustee acting directly or through any Paying Agent shall distribute such amounts to Holders of the Trust Preferred Securities on the record date fixed pursuant to Section 5.04, in proportion to the respective liquidation amount of Trust Preferred Securities held by such Holders.