Dividends and Additional Shares Clause Samples

Dividends and Additional Shares. 5.1 Subject to the rights of the Lender pursuant to paragraph 3, above, Pledgor will have the right to receive all cash dividends declared and paid by the Company with respect to the Pledged Shares prior to the occurrence of any Default under paragraph 3, above, to be applied to repayment of the loan as provided in the Note. 5.2 In the event any additional shares are issued to Pledgor as a stock dividend on any of the Pledged Shares, as a result of any split of any of the Pledged Shares, by reclassification or otherwise, such additional shares will be immediately delivered to the Lender and will be subject to this Pledge Agreement and a part of the Pledged Shares to the same extent as the original pledged shares.