Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the principal amount of Pledged Senior Notes or (2) the principal amount of the Pledged Treasury Securities, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.
Appears in 3 contracts
Samples: Pledge Agreement (Dominion Resources Inc /Va/), Pledge Agreement (Dominion Resources Capital Trust Iv), Pledge Agreement (Dominion Resources Inc /Va/)
Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the principal amount of Pledged Senior Notes or securities entitlements with respect thereto or (2) the Applicable Ownership Interests (as specified in Clause (A) of the definition thereof) in the Treasury Portfolio or (3) the principal amount of the Pledged Treasury SecuritiesSecurities or securities entitlements with respect thereto, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.
Appears in 2 contracts
Samples: Pledge Agreement (PPL Capital Funding Inc), Pledge Agreement (PPL Energy Supply LLC)
Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the principal amount of Pledged Senior Notes Preferred Stock or securities entitlements thereto or (2) the principal amount of the Pledged Treasury Securities, Securities or securities entitlements thereto shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.
Appears in 2 contracts
Samples: Pledge Agreement (Washington Mutual Inc), Pledge Agreement (Bank United Corp)
Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the aggregate principal amount of the Pledged Senior [Subordinated] Notes or securities entitlements thereto, or (2) the Applicable Ownership Interests (as specified in Clause (A) of the definition thereof) of the Treasury Portfolio, or (3) the principal amount of the Pledged Treasury Securities, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.
Appears in 2 contracts
Samples: Pledge Agreement (Williams Companies Inc), Pledge Agreement (El Paso Capital Trust Ii)
Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the principal amount of Pledged Senior Deferrable Notes or (2) the principal amount of the Pledged Treasury Securities, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.
Appears in 2 contracts
Samples: Pledge Agreement (Georgia Pacific Corp), Pledge Agreement (Georgia Pacific Corp)
Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the aggregate principal amount of the Pledged Senior Notes or securities entitlements thereto, or (2) the principal amount of the Pledged Treasury SecuritiesSecurities or security entitlements with respect thereto, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.
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