Common use of Dividends, Distributions, Etc Clause in Contracts

Dividends, Distributions, Etc. If, while this Agreement is in effect, Pledgor shall become entitled to receive or shall receive any rights or securities, whether as an addition to, in substitution for, or in exchange for the Pledged Shares, or otherwise, Pledgor agrees to accept the same as agent for the Pledgees and to hold the same in trust for the Pledgees and to deliver the same forthwith to the Pledgees in the exact form received, with the endorsement of Pledgor when necessary and appropriate and undated stock powers duly executed in blank, to be held by the Pledgees, subject to the terms hereof, as additional security for the Liabilities, and the securities represented by such certificates shall become part of the "Pledged Shares" for all purposes of this Agreement. In case any dividends are paid in respect of the Pledged Shares or any property shall be distributed upon or with respect to the Pledged Shares for any reason whatsoever, the property so distributed shall be delivered to the Pledgees, to be held by the Pledgees as collateral security for the Liabilities. All sums of money and property so paid or distributed in respect of the Pledged Shares which are received by Pledgor shall, until paid or delivered to the Pledgees, be held by Pledgor in trust as security for the Liabilities.

Appears in 2 contracts

Samples: Pledge Agreement (Prospect Street Nyc Discovery Fund Lp), Pledge Agreement (Skyline Multimedia Entertainment Inc)

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Dividends, Distributions, Etc. If, while this Agreement is prior to the Payment in effectFull of the Obligations, any Pledgor shall become entitled to receive or shall receive any rights certificate (including, without limitation, any certificate representing a dividend or securitiesa distribution in connection with any reclassification, increase or reduction of capital, or issued in connection with any reorganization, merger or consolidation), or any options or rights, whether as an addition to, in substitution for, or in exchange for any of the Pledged Shares, Interests or otherwise, such Pledgor agrees agrees, in each case, to accept the same as the Pledgee’s agent for the Pledgees and to hold the same in trust for the Pledgees Pledgee, and to deliver the same forthwith promptly (but in any event within five (5) Business Days of receipt) to the Pledgees Pledgee in the exact form received, with the endorsement of such Pledgor when necessary and and/or with appropriate and undated assignments separate from certificates or stock powers duly executed in blank, to be held by the Pledgees, Pledgee subject to the terms hereof, as additional security for Pledged Collateral. The applicable Pledgor shall promptly deliver to the LiabilitiesPledgee (i) a Pledge Supplement with respect to such additional certificates, and (ii) any financing statements or amendments to financing statements as requested by the securities represented by Pledgee. Each Pledgor hereby authorizes the Pledgee to attach each such certificates shall become part of the "Pledged Shares" for all purposes of Pledge Supplement to this Agreement. In case any dividends are paid Except as provided in respect of the Pledged Shares or any property shall be distributed upon or with respect to the Pledged Shares for any reason whatsoeverSection 5(b) below, the property so distributed shall be delivered to the Pledgees, to be held by the Pledgees as collateral security for the Liabilities. All all sums of money and property so paid or distributed in respect of the Pledged Shares Interests which are received by any Pledgor shall, until paid or delivered to the PledgeesPledgee, be held by each Pledgor in trust as security for the Liabilitiesadditional Pledged Collateral.

Appears in 2 contracts

Samples: Pledge Agreement, Pledge Agreement (Workhorse Group Inc.)

Dividends, Distributions, Etc. If, while this Agreement is prior to irrevocable repayment in effectfull in cash of the Obligations, the Pledgor shall become entitled to receive or shall receive any rights certificate (including, without limitation, any certificate representing a dividend or securitiesa distribution in connection with any reclassification, increase or reduction of capital, or issued in connection with any reorganization, merger or consolidation), or any options or rights, whether as an addition to, in substitution for, or in exchange for any of the Pledged Shares, Interests or otherwise, such Pledgor agrees agrees, in each case, to accept the same as the Pledgee’s agent for the Pledgees and to hold the same in trust for the Pledgees Pledgee, and to deliver the same forthwith promptly (but in any event within five days) to the Pledgees Pledgee in the exact form received, with the endorsement of such Pledgor when necessary and and/or with appropriate and undated assignments separate from certificates or stock powers duly executed in blank, to be held by the Pledgees, Pledgee subject to the terms hereof, as additional security for Pledged Collateral. The Pledgor shall promptly deliver to the LiabilitiesPledgee (i) a Pledge Addendum with respect to such additional certificates, and (ii) any financing statements or amendments to financing statements as requested by the securities represented by Pledgee. The Pledgor hereby authorizes the Pledgee to attach each such certificates shall become part of the "Pledged Shares" for all purposes of Pledge Addendum to this Agreement. In case any dividends are paid Except as provided in respect of the Pledged Shares or any property shall be distributed upon or with respect to the Pledged Shares for any reason whatsoeverSection 5(b) below, the property so distributed shall be delivered to the Pledgees, to be held by the Pledgees as collateral security for the Liabilities. All all sums of money and property so paid or distributed in respect of the Pledged Shares Interests which are received by the Pledgor shall, until paid or delivered to the PledgeesPledgee, be held by the Pledgor in trust as security for the Liabilitiesadditional Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (OncBioMune Pharmaceuticals, Inc)

Dividends, Distributions, Etc. If, while this Agreement is prior to irrevocable repayment in effectfull in cash of the Obligations, the Pledgor shall become entitled to receive or shall receive any rights certificate (including, without limitation, any certificate representing a dividend or securitiesa distribution in connection with any reclassification, increase or reduction of capital, or issued in connection with any reorganization, merger or consolidation), or any options or rights, whether as an addition to, in substitution for, or in exchange for any of the Pledged Shares, Interests or otherwise, such Pledgor agrees agrees, in each case, to accept the same as the Pledgee's agent for the Pledgees and to hold the same in trust for the Pledgees Pledgee, and to deliver the same forthwith promptly (but in any event within five days) to the Pledgees Pledgee in the exact form received, with the endorsement of such Pledgor when necessary and and/or with appropriate and undated assignments separate from certificates or stock powers duly executed in blank, to be held by the Pledgees, Pledgee subject to the terms hereof, as additional security for Pledged Collateral. The Pledgor shall promptly deliver to the LiabilitiesPledgee (i) a Pledge Addendum with respect to such additional certificates, and (ii) any financing statements or amendments to financing statements as requested by the securities represented by Pledgee. The Pledgor hereby authorizes the Pledgee to attach each such certificates shall become part of the "Pledged Shares" for all purposes of Pledge Addendum to this Agreement. In case any dividends are paid Except as provided in respect of the Pledged Shares or any property shall be distributed upon or with respect to the Pledged Shares for any reason whatsoeverSection 5(b) below, the property so distributed shall be delivered to the Pledgees, to be held by the Pledgees as collateral security for the Liabilities. All all sums of money and property so paid or distributed in respect of the Pledged Shares Interests which are received by the Pledgor shall, until paid or delivered to the PledgeesPledgee, be held by the Pledgor in trust as security for the Liabilitiesadditional Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Esports Entertainment Group, Inc.)

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Dividends, Distributions, Etc. If, while this Agreement is in effect, any Pledgor shall become entitled to receive or shall possess or receive any rights certificate (including, without limitation, any certificate representing an equity dividend or an equity distribution in connection with any reclassification, increase or reduction of capital, or issued in connection with any reorganization, merger or consolidation), or any other securities, options or rights, whether as an addition to, in substitution for, or in exchange for any of the Pledged SharesInterests, or otherwise, such Pledgor agrees to accept the same as Pledgee’s agent for the Pledgees and to hold the same in trust for the Pledgees Pledgee, and to deliver the same forthwith to the Pledgees Pledgee in the exact form received, with the endorsement of such Pledgor when necessary and and/or appropriate and undated stock powers assignments separate from certificate duly executed in blank, to be held by the PledgeesPledgee, subject to the terms hereof, as additional security for the LiabilitiesCollateral. Except as provided in Section 6(a)(ii) below, and the securities represented by such certificates shall become part of the "Pledged Shares" for all purposes of this Agreement. In in case any dividends are paid distribution of capital shall be made on or in respect of the Pledged Shares Interests or any property shall be distributed upon or with respect to the Pledged Shares for any reason whatsoeverInterests pursuant to the recapitalization or reclassification of the capital of the Issuer or pursuant to the reorganization thereof, the property so distributed shall be delivered to the Pledgees, Pledgee to be held by the Pledgees it as collateral security for the Liabilitiesadditional Collateral. All Except as provided in Section 6(a)(ii) below, all sums of money and property so paid or distributed in respect of the Pledged Shares Interests which are received by a Pledgor shall, until paid or delivered to the PledgeesPledgee, be held by such Pledgor in trust as security for the Liabilitiesadditional Collateral.

Appears in 1 contract

Samples: Non Recourse Guaranty and Pledge Agreement (Moyes Jerry)

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