Receipt of Income Sample Clauses

Receipt of Income. The Bank shall receive and credit to the ----------------- Account all income and other distributions due or payable on Securities held in the Account in bearer form or in the name of the Bank, an Authorized Entity or nominee of either. Provided that all Obligations (as defined in Section 9) have been paid to the Bank, the Bank shall distribute such amounts, net of any applicable withholding or other taxes, in accordance with Exhibit A attached hereto. If the Bank credits the Account with distributions payable with respect to Securities and said distributions are not actually received by the Bank within ten (10) days, the Bank may debit the Account at any time thereafter and shall notify the Customer of such debit. Except for claims made in the ordinary course, the Bank shall not be obligated to take any action relating to receipt of income or other distribution, including without limitation to institute legal proceedings, to seek allowance of a proof of claim in insolvency proceedings, to provide notice of default, to secure payment of any distributions on the Customer's behalf or any similar actions.
Sample 1
AutoNDA by SimpleDocs
Receipt of Income. The Custodian, its agents or its sub-custodians shall receive all income and other payments with respect to the Securities held hereunder and shall notify the Company as promptly as practicable of any such amounts due but not paid to the extent the Custodian has actual knowledge of such amounts due. Such income and other payments received shall include interest income, dividends and other payments with respect to registered domestic securities if on the record date with respect to the date of payment by the issuer the Security is registered in the name of the Custodian or its nominee (or in the name of its agent or sub-custodian, or their nominee); and interest income, dividends and other payments with respect to bearer domestic securities if, on the date of payment by the issuer, such Securities are held by the Custodian or its sub-custodian or agent; provided, however, that in the case of Securities held in Street Name. In no event shall the Custodian’s agreement herein obligate the Custodian to commence, undertake or prosecute any legal proceedings.
Sample 1
Receipt of Income. 5.01 The Escrow Agent shall receive and collect any and all interest and other income of a kindred nature arising with respect to the Escrow Fund, and shall reinvest such interest and other income. Any taxes payable with respect to interest and other income accruing on the Escrow Fund shall be the responsibility of the party to whom such interest or other income is distributed hereunder.
Sample 1
Receipt of Income. For the purpose of section 11B –
Sample 1
Receipt of Income. The Company as landlord will receive all rental income and other payments received in respect of the Property. Any such income received by the Company or the Manager on behalf of the Company will be deposited by the Company or the Manager (as the case may be) into the Company Account.
Sample 1
Receipt of Income. 8. Certain provisions of Agreements have the force of law.
Sample 1
Receipt of Income. Any sums received by the State from–
Sample 1
AutoNDA by SimpleDocs

Related to Receipt of Income

  • Organization; Capitalization Borrower is a corporation duly organized, validly existing and in good standing under the laws of the state of California and has all requisite corporate power and authority to own its property and to carry on its business as now being conducted.

  • Effect on Company Capital Stock At the Effective Time, by virtue of the Merger and without any action on the part of Parent, Merger Sub, the Company or the Stockholders:

  • Share Capitalizations If after the date hereof, and subject to the provisions of Section 6.6 below, the number of outstanding Ordinary Shares is increased by share capitalization payable in Ordinary Shares, or by a sub-division of Ordinary Shares or other similar event, then, on the effective date of such share capitalization, sub-division or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding Ordinary Shares.

  • Recapitalizations If at any time or from time to time there shall be a recapitalization of the Common Stock (other than a subdivision, combination or merger or sale of assets transaction or other Triggering Event provided for elsewhere in this Section 5 or in Section 3), a provision shall be made so that the holders of Series D Preferred Stock shall thereafter be entitled to receive upon conversion of shares of Series D Preferred Stock the number of shares of stock or other securities or property of the Corporation or otherwise, to which a holder of Common Stock deliverable upon conversion would have been entitled on such recapitalization. In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 5 with respect to the rights of the holders of Series D Preferred Stock after the recapitalization to the end that the provisions of this Section 5 (including adjustment of the Conversion Price then in effect and the number of shares issuable upon conversion of each share of Series D Preferred Stock) shall be applicable after that event and be as nearly equivalent as practicable.

  • Recapitalization/Reorganization (a) Any new, substituted or additional securities or other property which is by reason of any Recapitalization distributed with respect to the Purchased Shares shall be immediately subject to the First Refusal Right, but only to the extent the Purchased Shares are at the time covered by such right.

  • Recapitalization, etc In the event that any capital stock or other securities are issued in respect of, in exchange for, or in substitution of, any Shares by reason of any reorganization, recapitalization, reclassification, merger, consolidation, spin-off, partial or complete liquidation, stock dividend, split-up, sale of assets, distribution to stockholders or combination of the Shares or any other change in capital structure of the Issuer, appropriate adjustments shall be made with respect to the relevant provisions of this Agreement so as to fairly and equitably preserve, as far as practicable, the original rights and obligations of the parties hereto under this Agreement.

  • Effect on Capital Stock At the Effective Time, by virtue of the Merger and without any action on the part of the holder of any shares of Company Common Stock or any shares of capital stock of Sub:

  • Company Capitalization The Company has an authorized capitalization as set forth in the Prospectus; the outstanding shares of capital stock of the Company have been duly and validly authorized and issued and are fully paid and nonassessable.

  • Recapitalizations, etc The provisions of this Agreement shall apply, to the full extent set forth herein with respect to the Stock or the Options, to any and all shares of capital stock of the Company or any capital stock, partnership units or any other security evidencing ownership interests in any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for, or substitution of the Stock or the Options by reason of any stock dividend, split, reverse split, combination, recapitalization, liquidation, reclassification, merger, consolidation or otherwise.

  • Dividends; Capital Stock Declare or pay, directly or indirectly, any dividends or make any other distribution, redemption, repurchase or payment, whether in cash, property, securities or a combination thereof, with respect to (whether by reduction of capital or otherwise) any shares of capital stock (or any options, warrants, rights or other equity securities or agreements relating to any capital stock) of the Borrower, or set apart any sum for the aforesaid purposes.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!