Common use of Rights to Dividends and Distributions Clause in Contracts

Rights to Dividends and Distributions. So long as Pledgor is not in Default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds distributed on account of the Pledged Shares. Notwithstanding the foregoing, Secured Parties, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged Shares; (ii) all proceeds paid or payable with respect to the Pledged Shares in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") or in connection with a reduction of capital, capital surplus or paid-in surplus of the Company; and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged Shares. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 below, Secured Parties shall receive all Proceeds with respect to the Pledged Shares for immediate application to the Note.

Rights to Dividends and Distributions. So long as Pledgor is not in ------------------------------------- Default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds proceeds distributed on account of the Pledged SharesStock. Notwithstanding the foregoing, Secured PartiesPledgee, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceedsproceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged SharesStock; (ii) all proceeds paid or payable with respect to the Pledged Shares Stock in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") issuing corporation or in connection with a reduction of capital, capital surplus or paid-in surplus of the Companyissuing corporation; and and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged SharesStock. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 belowDefault, Secured Parties Pledgee shall receive all Proceeds be paid any proceeds with respect to the Pledged Shares for immediate application to Stock; provided, however, Pledgee shall apply such payments against the outstanding balance of the Note.

Rights to Dividends and Distributions. So long as Pledgor is -------------------------------------- not in Default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds proceeds distributed on account of the Pledged SharesStock. Notwithstanding the foregoing, Secured PartiesPledgee, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceedsproceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged SharesStock; (ii) all proceeds paid or payable with respect to the Pledged Shares Stock in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") issuing corporation or in connection with a reduction of capital, capital surplus or paid-in surplus of the Companyissuing corporation; and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged SharesStock. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 belowDefault, Secured Parties Pledgee shall receive all Proceeds be paid any proceeds with respect to the Pledged Shares for immediate application to Stock; provided, however, Pledgee shall apply such payments against the outstanding balance of the Note.

Rights to Dividends and Distributions. So long as Pledgor is ------------------------------------- not in Default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds proceeds distributed on account of the Pledged SharesStock. Notwithstanding the foregoing, Secured PartiesPledgee, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceedsproceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged SharesStock; (ii) all proceeds paid or payable with respect to the Pledged Shares Stock in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") issuing corporation or in connection with a reduction of capital, capital surplus or paid-in surplus of the Companyissuing corporation; and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged SharesStock. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 belowDefault, Secured Parties Pledgee shall receive all Proceeds be paid any proceeds with respect to the Pledged Shares for immediate application to Stock; provided, however, Pledgee shall apply such payments against the outstanding balance of the Note.

Rights to Dividends and Distributions. So long as Pledgor is not ------------------------------------- in Default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds proceeds distributed on account of the Pledged SharesStock. Notwithstanding the foregoing, Secured PartiesPledgee, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceedsproceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged SharesStock; (ii) all proceeds paid or payable with respect to the Pledged Shares Stock in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") issuing corporation or in connection with a reduction of capital, capital surplus or paid-in surplus of the Companyissuing corporation; and and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged SharesStock. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 belowDefault, Secured Parties Pledgee shall receive all Proceeds be paid any proceeds with respect to the Pledged Shares for immediate application to Stock; provided, however, Pledgee shall apply such payments against the outstanding balance of the Note.

Rights to Dividends and Distributions. So long as Pledgor is not in ------------------------------------- Default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds proceeds distributed on account of the Pledged SharesStock. Notwithstanding the foregoing, Secured PartiesPledgee, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceedsproceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged SharesStock; (ii) all proceeds paid or payable with respect to the Pledged Shares Stock in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") issuing corporation or in connection with a reduction of capital, capital surplus or paid-in surplus of the Companyissuing corporation; and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged SharesStock. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 belowDefault, Secured Parties Pledgee shall receive all Proceeds be paid any proceeds with respect to the Pledged Shares for immediate application to Stock; provided, however, Pledgee shall apply such payments against the outstanding balance of the Note.

Rights to Dividends and Distributions. So long as Pledgor is not ------------------------------------- in Default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds proceeds distributed on account of the Pledged SharesStock. Notwithstanding the foregoing, Secured PartiesPledgee, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceedsproceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged SharesStock; (ii) all proceeds paid or payable with respect to the Pledged Shares Stock in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") issuing corporation or in connection with a reduction of capital, capital surplus or paid-in surplus of the Companyissuing corporation; and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged SharesStock. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 belowDefault, Secured Parties Pledgee shall receive all Proceeds be paid any proceeds with respect to the Pledged Shares for immediate application to Stock; provided, however, Pledgee shall apply such payments against the outstanding balance of the Note.

Rights to Dividends and Distributions. So long as Pledgor is not in Default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds proceeds distributed on account of the Pledged SharesStock. Notwithstanding the foregoing, Secured PartiesPledgee, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceedsproceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged SharesStock; (ii) all proceeds paid or payable with respect to the Pledged Shares Stock in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") issuing corporation or in connection with a reduction of capital, capital surplus or paid-in surplus of the Companyissuing corporation; and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged SharesStock. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 belowDefault, Secured Parties Pledgee shall receive all Proceeds be paid any proceeds with respect to the Pledged Shares for immediate application to Stock; provided, however, Pledgee shall apply such payments against the outstanding balance of the Note.

Rights to Dividends and Distributions. So long as Pledgor is not in Default ------------------------------------- default and except as expressly limited below, Pledgor shall be entitled to receive and retain any Proceeds distributed on account of the Pledged Sharesproceeds. Notwithstanding the foregoing, Secured PartiesPledgeholder, rather than Pledgor, shall be entitled to collect and receive all of the following types of Proceedsproceeds, which shall be added to and shall become a part of the Collateral: (i) all proceeds paid or payable other than in cash, and all instruments and other property distributed in respect of, or in exchange for, the Pledged SharesStock; (ii) all proceeds paid or payable with respect to the Pledged Shares Stock in connection with a partial or total liquidation or dissolution of United Heritage Corporation (the "Company") issuing corporation or in connection with a reduction of capital, capital surplus or paid-in surplus of the Companyissuing corporation; and (iii) all proceeds distributed in redemption of, or in exchange for, the Pledged SharesStock. To the extent the foregoing proceeds exceed the amount of Pledgor's obligations and liabilities under the Note and/or this Agreement, Pledgor shall be entitled to receive these excess proceeds. In the event and for so long as Pledgor is in Default as defined in Section 3 belowDefault, Secured Parties Pledgeholder shall receive all Proceeds be paid any proceeds with respect to the Pledged Shares for immediate application to Stock; provided, however, Pledgeholder shall apply such payments against the outstanding balance of the Note.