The Pledged Securities. Section 401.
The Pledged Securities. Until there shall occur an Event of Default, the Company shall (i) be entitled to receive all dividends, interest and other Distributions or payments on or with respect to the Pledged Securities (other than dividends, Distributions or payments constituting Pledged Securities) and (ii) be entitled to vote or consent with respect to the Pledged Securities in any manner not inconsistent with the terms of the Loan Agreements (and you will, if so requested, execute appropriate revocable proxies therefor). All Distributions constituting Pledged Securities made or paid on the Pledged Securities will be retained by you (or if received by the Company or a Subsidiary of the Company shall be held by such Person in trust and shall be forthwith delivered by it to you in the original form received, endorsed in blank) and held by you as a part of the Loan Security. If there shall have occurred an Event of Default, all dividends, interests and other Distributions and payments with respect to Pledged Securities shall be retained by you (or if received by the Company or a Subsidiary of the Company shall be held by such Person in trust and shall be forthwith delivered by it to you in the original form received, endorsed in blank) and held by you as part of the Loan Security or applied by you to the payment of the Loan Obligations in such order and in such manner as you may determine in your sole discretion, and, if and to the extent that you shall so notify the Company in writing, only you shall be entitled to vote or consent or take any other action with respect to the Pledged Securities (and the Company or the appropriate Subsidiary of the Company will, if so requested, execute or cause to be executed appropriate proxies therefor). You at your option shall at all times have the right to transfer at any time into your name or that of your nominee any or all of the Pledged Securities.
The Pledged Securities. Section 401. Payments on the Pledged Securities. Interest on any Pledged Security that is paid on any Quarterly Payment Date shall, subject to receipt thereof by the Purchase Contract Agent from the Collateral Agent as provided by the terms of the Pledge Agreement, be paid to the Person in whose name the Unit Certificate (or one or more Predecessor Unit Certificates) of which such Pledged Security is a part is registered at the close of business on the Record Date next preceding such Quarterly Payment Date. Each Unit Certificate evidencing Pledged Securities delivered under this Agreement upon registration of transfer of or in exchange for or in lieu of any other Unit Certificate shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Pledged Securities underlying such other Unit Certificate. In the case of any Unit with respect to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date after any Record Date and on or prior to the next succeeding Quarterly Payment Date, interest on the Pledged Securities underlying such Unit otherwise payable on such Quarterly Payment Date shall be payable on such Quarterly Payment Date notwithstanding such Early Settlement, and such interest shall, subject to receipt thereof by the Purchase Contract Agent, be paid to the Person in whose name the Unit Certificate (or one or more Predecessor Unit Certificates) is registered at the close of business on the Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Unit with respect to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date, interest on the related Pledged Securities that would otherwise be payable after the Early Settlement Date shall not be payable hereunder to the Holder of such Security.
The Pledged Securities. Until there shall occur an Event of Default, the Company shall (i) be entitled to receive all dividends, interest and other Distributions or payments on or with respect to the Pledged Securities (other than dividends, Distributions or payments constituting Pledged Securities) and (ii) be entitled to vote or consent with respect to the Pledged Securities in any manner not inconsistent with the terms of the Loan Agreements (and you will, if so requested, execute appropriate revocable proxies therefor). All Distributions constituting Pledged Securities made or paid on the Pledged Securities will be retained by you (or if received by the Company or a Subsidiary of the Company shall be
The Pledged Securities. SECTION 401. Payments on the Pledged Securities. On each Quarterly Payment Date, as provided by the terms of the Pledge Agreement, subject to receipt by the Collateral Agent of the relevant payments in respect of the Pledged Securities underlying any Holder's Units, (a) the Collateral Agent (i) shall, on behalf of such Holder, pay to the Company the Contract Fees, if any, then payable by such Holder to the Company and (ii) shall, subject to Section 504(b), remit to the Unit Agent the amount of such payments remaining after the payment referred to in clause (i) and (b) the Unit Agent shall pay the amount referred to in clause (a)(ii) above, subject to receipt thereof by the Unit Agent from the Collateral Agent, to the Person in whose name the Unit Certificate (or one or more Predecessor Unit Certificates) evidencing such Units is registered at the close of business on the Record Date next preceding such Quarterly Payment Date. In addition, in the event that (a) the Call Options are exercised and the Aggregate Consideration Deliverable on Exercise of the Call Options includes a cash amount in respect of deferred distributions on the QUIPS or deferred interest payments on the Junior Subordinated Debentures and (b) the Call Settlement Date is not a Quarterly Payment Date, pursuant to the Pledge Agreement the Collateral Agent shall, on behalf of the Holders of the Normal Units, pay to the Company on the Call Settlement Date an amount equal to the deferred Contract Fees, if any, then payable by such Holders to the Company. Payments on the Pledged Securities on the Stock Purchase Date are discussed at Section 504. -24- 30
The Pledged Securities. .. 13 Section 4.01. Payment of Distributions; Rights to Distributions Preserved ...................... 13 Section 4.02. Transfer of Pledged Securities Upon Occurrence of Termination Event .............. 13
The Pledged Securities. SECTION 401. Payments on the Pledged Securities. On each Quarterly Payment Date, as provided by the terms of the Pledge Agreement, subject to receipt by the Collateral Agent of the relevant payments in respect of the Pledged Securities underlying any Holder's Units, (a) the Collateral Agent shall, subject to Section 504(b), remit to the Unit Agent the amount of such payments and (b) the Unit Agent shall pay the amount referred to in clause (a) above, subject to receipt thereof by the Unit Agent from the Collateral Agent, to the Person in whose name the Unit Certificate (or one or more Predecessor Unit Certificates) evidencing such Units is registered at the close of business on the Record Date next preceding such Quarterly Payment Date. Payments on the Pledged Securities on the Stock Purchase Date are addressed in Section 504. -21- 27
The Pledged Securities. SECTION 401. Payments on the Pledged Securities. Subject to Section 504(b), upon receipt from the Collateral Agent of payments in respect of the Pledged Securities underlying any Holder's Units, the Purchase Contract Agent shall pay any amount, which remains after any payments payable to the Company by such Holder in respect of the Contract Fee, if any, have been made by the Collateral Agent on behalf of such Holder, to the Person in whose name the Unit Certificate (or one or more Predecessor Unit Certificates) evidencing such Units is registered at the close of business on the Record Date next preceding such Quarterly Payment Date. Payments on the Pledged Securities on the Stock Purchase Date are addressed in Section 504.
The Pledged Securities. The Pledged Securities represent that percentage set forth on Schedule I of the issued and outstanding Equity Interests of the issuer with respect thereto. All of the Pledged Securities have been duly authorized and validly issued and are fully paid and nonassessable and are in certificated form; and the Pledged Collateral will not be represented by any certificates, notes, securities, documents, or other instruments other than those delivered hereunder
The Pledged Securities. All certificates or instruments representing or evidencing the Pledged Securities shall be delivered to and held pursuant hereto by Secured Party or a person or entity designated by Secured Party and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank.
