Dividends and Distributions Held in Trust. All dividends and other distributions which are received by the Company contrary to the provisions of the Credit Agreement or this Agreement shall be received in trust for the benefit of the Secured Parties, shall be segregated from other funds of the Company, and forthwith shall be paid over to the Administrative Agent as Pledged Collateral in the same form as so received (with any necessary endorsements).
Appears in 3 contracts
Samples: Pledge Agreement, Pledge Agreement (Tracinda Corp), Credit Agreement (Kerkorian Kirk)
Dividends and Distributions Held in Trust. All dividends and other distributions which are received by the Company Borrower contrary to the provisions of the Credit Agreement or this Agreement shall be received in trust for the benefit of the Secured PartiesAdministrative Agent, shall be segregated from other funds of the CompanyBorrower, and forthwith shall be paid over to the Administrative Agent as Pledged Collateral in the same form as so received (with any necessary endorsements).
Appears in 1 contract
Samples: Pledge Agreement (Todd Ao Corp)
