FUTURE RECEIPTS Clause Samples
FUTURE RECEIPTS. If Pledgor receives or becomes entitled to receive any:
(a) stock certificate(s) issued in respect of the Pledged Stock, including, without limitation, any certificate representing a stock dividend or payable in respect of the Pledged Stock or issued in connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares, stock split, spin-off or split-off;
(b) option, warrant or right, whether issued as an addition to, in substitution or in exchange for, or on account of, any of the Pledged Stock; or
(c) dividends or distributions on the Pledged Stock payable other than in cash, including securities issued by other than Secured Party or the Company; Pledgor shall accept the same as Secured Party's agent, in trust for Secured Party, and shall deliver same to Secured Party, in the exact form received with, as applicable, Pledgor's endorsement when necessary or appropriate stock powers duly executed in blank. Any property received by Secured Party hereunder shall be held by Secured Party pursuant to the terms of this Agreement as additional security for the Obligations.
FUTURE RECEIPTS. Where after the BTA Closing Date, any payments are received by the Seller or any of its employees from time to time relating to the account of the Business Undertaking in relation to the period prior to BTA Closing and which are required to be sent to the Purchaser, such payments received by the Seller shall be paid to the Purchaser within 10 (ten) Business Days of their receipt.
FUTURE RECEIPTS. If the Shareholders shall receive or become entitled to receive any:
(a) stock certificate(s) issued in respect of the Escrow Shares, including, without limitation, any certificate representing a stock dividend or payable in respect of the Escrow Shares or issued in connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares, stock split, spin-off or split-off;
(b) option, warrant or right, whether issued as an addition to, in substitution or in exchange for, or on account of, any of the Escrow Shares; or
(c) dividends or distributions on the Escrow Shares payable other than in cash, including securities issued by other than Parent;
FUTURE RECEIPTS. In the event that any amounts, whether in cash or in kind, which relate to the Interest are received on or after the Closing Date by Seller or on its behalf, Seller shall promptly transfer or cause such amounts to be immediately transferred to Buyer.