Dividends and Interest Payments Clause Samples
The 'Dividends and Interest Payments' clause defines the rules and procedures for distributing profits or interest to shareholders or creditors. It typically outlines when and how dividends or interest will be paid, any conditions that must be met before payments are made, and the method of calculation. This clause ensures that all parties understand their entitlements and the timing of payments, thereby preventing disputes and providing clarity regarding financial distributions.
Dividends and Interest Payments. (1) Subject to the provisions of Section 4.03(2), the relevant Pledgor is entitled to receive all dividend payments or other distributions or interest payments in respect of the Collateral. If the Collateral has been registered in the name of the Collateral Agent or its nominee, the Collateral Agent will execute and deliver (or cause to be executed and delivered) to the relevant Pledgor all directions and other instruments as such Pledgor may request for the purpose of enabling such Pledgor to receive the dividends or other payments that such Pledgor is authorized to receive pursuant to this Section 4.03(1).
(2) At any time when an Event of Default has occurred and is continuing and upon the exercise by the Collateral Agent of any of its rights and remedies under Section 5.01, all rights of the Pledgors pursuant to Section 4.03(1) will cease, and all such rights will thereupon become vested in the Collateral Agent, and the Collateral Agent will have the sole and exclusive right and authority to receive and retain all payments that any Pledgor would otherwise be authorized to retain pursuant to Section 4.03(1). All money and other property received by the Collateral Agent pursuant to the provisions of this Section 4.03(2) will be applied in accordance with Section 6(g) of the Note. All payments which are received by any Pledgor contrary to the provisions of this Section 4.03(2) will be held by such Pledgor in trust for the benefit of the Collateral Agent, will be segregated from other property or funds of such Pledgor and will be forthwith Delivered to the Collateral Agent or its nominee to hold as Collateral.
Dividends and Interest Payments. 3.3.1 Unless the Pledgor has been notified by the Agent that an Event of Default has occurred and is continuing, the Pledgor is entitled to receive all dividend or interest payments in respect of the Collateral.
3.3.2 Upon the Agent giving to the Pledgor notice that an Event of Default has occurred and is continuing, all rights of the Pledgor pursuant to Section 3.3.1 will cease and the Pledgees will have the sole and exclusive right and authority to receive and retain all payments that the Pledgor would otherwise be authorized to retain pursuant to Section 3.3.1.
Dividends and Interest Payments. 11.1.1 ▇▇▇▇▇▇ will be responsible for claiming and receiving dividends, interest payments and other rights and entitlements in respect of investments held on your behalf.We will not be liable for any loss of interest due to any delay outside of our control in crediting any income received. A Consolidated Tax Certificate relating to your investments will be sent to non-Gibraltar residents shortly after the end of each financial year (6th April to 5th April).All dividends or other income will be credited in the form of cash only. Where you elect to receive the income, income will be paid directly to your nominated bank or building society account. Payments of any income will normally be made within 10 business days of the end of each calendar ▇▇▇▇▇▇▇.▇▇▇ should be aware that due to the complexity of the tax regimes in other countries, we will not, as a general rule, reclaim the tax credits on dividends or other income on foreign securities. Dividends are normally paid twice a year, but this is not guaranteed. If you have purchased a security prior to ex-dividend date and you do not receive the dividend (e.g. bought T+10) we will claim it on your behalf. If you sell a share prior to the ex-dividend date, you may receive a dividend to which you are not entitled (e.g. sold shares T+10) in which case we will claim it from you.
Dividends and Interest Payments. Subject to Section 2.1:
(a) Unless an Event of Default has occurred and has not been waived in writing by the Lenders, the Pledgor is entitled to receive all dividend payments or other distributions or interest payments, whether any such amount are paid in cash, securities or otherwise in respect of the Collateral.
(b) Upon the occurrence of an Event of Default which has not been waived in writing by the Lenders, all rights of the Pledgor pursuant to Section 4.3(a) shall cease and the Lenders will have the sole and exclusive right and authority to receive and retain all payments that the Pledgor would otherwise be authorised to retain pursuant to Section 4.3(a). All money and other property received by the Lenders pursuant to the provisions of this Section 4.3(b) may be applied on account of the Obligations or may be retained by the Lenders as additional Collateral hereunder and be applied in accordance with the provisions of this Agreement.
Dividends and Interest Payments. (a) Unless an Event of Default has occurred and is continuing, the Debtor is entitled to receive all dividend payments or other distributions or interest payments in respect of the Collateral.
(b) Upon the occurrence and during the continuance of an Event of Default, all rights of the Debtor pursuant to Section 4.3(a) shall cease and the Agent will have the sole and exclusive right and authority to receive and retain all payments that the Debtor would otherwise be authorised to retain pursuant to Section 4.3(a). All money and other property received by the Agent pursuant to the provisions of this Section 4.3(b) may be applied on account of the Obligations or may be retained by the Agent as additional Collateral hereunder and be applied in accordance with the provisions of the Credit Agreement.
Dividends and Interest Payments. Bankshares and Bank shall not declare or pay any dividends, common or preferred, without the prior written approval of the Bureau and the Reserve Bank.
Dividends and Interest Payments. Corporation shall not declare or pay any dividends of any kind, to include trust preferred security payments, without the prior written approval of the Bureau and Reserve Bank.
Dividends and Interest Payments. 11.1.1 ▇▇▇▇▇▇ will be responsible for claiming and receiving dividends, interest payments and other rights and entitlements in respect of investments held on your behalf. We will not be liable for any loss of interest due to any delay outside of our control in crediting any income received. A Consolidated Tax Certificate relating to your investments will be sent to UK residents as soon as possible after the end of each financial year (6th April to 5th April). All dividends or other income will be credited in the form of cash only. Where you elect to receive the income, income will be paid directly to your nominated bank or building society account. Payments of any income will normally be made within 10 business days of the end of each calendar ▇▇▇▇▇▇▇.▇▇▇ should be aware that due to the complexity of the tax regimes in other countries, ▇▇▇▇▇▇ will not reclaim the tax credits on dividends or other income on foreign securities. Dividends are normally paid twice a year (in the case of UK companies), but this is not guaranteed. If you have purchased a security prior to ex-dividend date and you do not receive the dividend (e.g. bought T+10) ▇▇▇▇▇▇ will claim it on your behalf. If you sell a share prior to the ex-dividend date, you may receive a dividend to which you are not entitled (e.g. sold shares T+10) in which case the market will claim it from you.