Common use of Stock Dividends, Distributions, Etc Clause in Contracts

Stock Dividends, Distributions, Etc. Subject to Section 5 of this Agreement, if, while this Agreement is in effect, the Pledgor shall become entitled to receive any shares of stock (including, without limitation, a distribution in connection with any reclassification, increase or reduction of capital or in connection with any reorganization), or any option or right to acquire shares of stock, in substitution of, or in exchange for, any shares of Pledged Securities, or shall receive any stock dividend with respect to any shares of Pledged Securities, the Pledgor agrees to pledge the same as additional collateral security for the obligations under the Note, such shares shall become part of the Pledged Securities, the Pledgor shall deposit with the Secured Party the certificates representing such shares (together with appropriate undated stock powers duly executed in blank), and the Secured Party shall hold such additional shares of Pledged Securities pursuant to this Agreement. Any sums paid upon or in respect of the Pledged Securities upon the recapitalization, reorganization, liquidation or dissolution of the issuer thereof shall be paid over to the Secured Party, as additional collateral security for the payment of the obligations under the Note.

Stock Dividends, Distributions, Etc. Subject to Section 5 of this Agreementhereof, if, while this Agreement is in effect, the Pledgor shall become entitled to receive any shares of stock (including, without limitation, a distribution in connection with any reclassification, increase or reduction of capital or in connection with any reorganization), or any option or right to acquire shares of stock, in substitution of, or in exchange for, any shares of Pledged Securities, or shall receive any stock dividend with respect to any shares of Pledged Securities, the Pledgor agrees to pledge the same as additional collateral security for the obligations under the Note, such shares shall become part of the Pledged Securities, the Pledgor shall deposit with the Secured Party Pledgee the certificates representing such shares (together with appropriate undated stock powers duly executed in blank), and the Secured Party Pledgee shall hold such additional shares of Pledged Securities pursuant to this Agreement. Any sums paid upon or in respect of the Pledged Securities upon the recapitalization, reorganization, liquidation or dissolution of the issuer thereof shall be paid over to the Secured PartyPledgee, as additional collateral security for the payment of the obligations under the Note.