Manufactured Dividend definition
Manufactured Dividend shall have the meaning given in Clause 4(B)(ii);
Manufactured Dividend means the amount of any cash dividend or distribution made in respect of the Shares that have been Rehypothecated, after netting any applicable withholding or similar Taxes (including any such Taxes that would apply to (i) such dividend or distribution deemed received by Secured Party and (ii) the further payment of such amount representing economic entitlement to such dividend or distribution (after netting any withholding or similar Taxes in (i)) by Secured Party to Pledgor); and for the avoidance of doubt, any such Tax shall not be an “Indemnifiable Tax” for purposes of Section 14 of the Agreement. For the avoidance of doubt, any Manufactured Dividend that is not paid over to Secured Party during the continuance of any Event of Default shall constitute Collateral and be subject to return pursuant to and in accordance with Section 10 of this Agreement.
Manufactured Dividend means the amount of any cash dividend or distribution made in respect of the Shares that have been Rehypothecated, after netting any applicable withholding taxes that would apply to (i) such dividend or distribution received by Secured Party and (ii) the further payment of such amount representing economic entitlement to such dividend or distribution (after netting any withholding taxes in (i)) by Secured Party to Grantor.
Examples of Manufactured Dividend in a sentence
For the avoidance of doubt, any Manufactured Dividend that is not paid over to Secured Party during the continuance of any Event of Default shall constitute Collateral and be subject to return pursuant to and in accordance with Section 10 of this Agreement.
More Definitions of Manufactured Dividend
Manufactured Dividend shall have the meaning given in sub-clause 4.2.2 of Clause 4.2.