Periodic Distributions. Whenever (and to the extent) the Trust receives any cash payments representing a Dividend or redemption payment on the Company Preferred Securities, or payments from the Bank pursuant to the Subordinated Guarantee in respect of such Dividend or redemption payment, the Trustee acting directly or through any Paying Agent shall distribute such amounts to Holders of the Trust Preferred Securities on the record date fixed pursuant to Section 5.04, in proportion to the respective liquidation amount of Trust Preferred Securities held by such Holders.
Appears in 9 contracts
Samples: Trust Agreement (UBS Preferred Funding Trust VIII), Trust Agreement (UBS Preferred Funding Trust VIII), Trust Agreement (UBS Preferred Funding Trust VIII)
