Agreement to Hold In Trust. If the Subordinated Lender shall receive any payment on account of the Subordinated Indebtedness in violation of this Agreement, it shall hold such payment in trust for the benefit of the Lenders and, promptly upon discovery or notice of such violation, pay it over to the Lenders for application in payment of the Senior Indebtedness.
Agreement to Hold In Trust. All payments received directly by any Borrower that are required to be deposited into the Project Accounts in accordance with the terms of this Agreement or any other Financing Document shall be held by such Borrower in trust for the Collateral Agent, on behalf and for the benefit of the Senior Secured Parties, shall be segregated from other funds of such Borrower and shall, forthwith upon receipt by such Borrower, be turned over to the Collateral Agent or its designee in the same form as received by such Borrower (duly endorsed by such Borrower to the Collateral Agent or the Accounts Bank, if requested) for deposit and disbursement in accordance with this Agreement.
Agreement to Hold In Trust. If Creditor or Lender shall receive any payment on account of proceeds of sale or other disposition of collateral with respect to which the other holds a superior interest and right pursuant to the terms of this Agreement, then it shall hold such payment in trust for the benefit of the other and promptly upon discovery or notice of such violation of the terms hereof, pay it over to the other for application in payment of Obligations to Lender or Obligations to Creditor, as the case may be. As set forth in Lender’s Documents, on and after the date hereof and until such time as all of the Obligations to Creditor have been indefeasibly paid in full in cash, and performed in favor of Creditor, and Creditor’s Documents have been terminated, Borrower is required to direct all account debtors relating to Creditor’s Senior Collateral to direct payments to Creditor.
Agreement to Hold In Trust. All payments received directly by the Borrower that are required to be deposited into the Project Accounts in accordance with the terms of this Accounts Agreement, the Credit Agreement, or any other Financing Document (including any amount received by the Borrower pursuant to, or in connection with, any Project Document or any sale of Products) shall be held by the Borrower in trust for the Collateral Agent, on behalf and for the benefit of the Senior Secured Parties, shall be segregated from other funds of the Borrower and shall, forthwith upon receipt by the Borrower, be turned over to the Collateral Agent or its designee in the same form as received by the Borrower (duly endorsed by the Borrower to the Collateral Agent or the Accounts Bank, if requested) for deposit and disbursement in accordance with this Accounts Agreement.
Agreement to Hold In Trust. All payments received directly by any Borrower that are required to be deposited into the Project Accounts in accordance with the terms of this Agreement or any other Financing Document shall be held by such Borrower in trust for (x) the Collateral Agent, on behalf and for the benefit of the Senior Secured Parties and (y) the Senior Collateral Agent, on behalf of and for the benefit of the Priority Senior Secured Parties, and shall be segregated from other funds of such Borrower and shall, forthwith upon receipt by such Borrower, be turned over to the Senior Collateral Agent or the Collateral Agent, as applicable or its designee in the same form as received by such Borrower (duly endorsed by such Borrower to the Senior Collateral Agent or the Collateral Agent, as applicable or the Accounts Bank, if requested) for deposit and disbursement in accordance with this Agreement, the Senior Credit Agreement and the Intercreditor Agreement.
Agreement to Hold In Trust. If the holder of the Subordinated Indebtedness shall receive any payment on account of the Subordinated Indebtedness in violation of this Agreement, it shall hold such payment in trust for the benefit of the holder of the Senior Indebtedness and, promptly upon discovery or notice of such violation, pay it over to such holder for application in payment of the Senior Indebtedness (after giving effect to any other concurrent payment or distribution to the Senior Lender).
Agreement to Hold In Trust. All payments received directly by the Borrower that are required to be deposited into the Project Accounts in accordance with the terms of this Agreement, the Credit Agreement, or any other Financing Document (including any amount received by the Borrower pursuant to, or in connection with, any Project Document or any sale of assets) shall be held by the Borrower in trust for the Lender, shall be segregated from other funds of the Borrower and shall, forthwith upon receipt by the Borrower, be turned over to the Lender or its designee in the same form as received by the Borrower (duly endorsed by the Borrower to the Lender or the Accounts Bank, if requested by the Lender) for deposit and disbursement in accordance with this Agreement.
Agreement to Hold In Trust. If the holder of any Credits shall receive any Payment or Distribution in violation of the provisions of this Agreement, it shall hold such Payment or Distribution in trust for the benefit of the other holder of the Credits and shall forthwith remit so much thereof as is owing to the other holder of the Credits pursuant to the terms of the Credit Documents and this Agreement, in each case in the same in the form in which it was received, together with such endorsements or documents as may be necessary to effectively negotiate or transfer the same, for application in payment of the Credits.
Agreement to Hold In Trust. If any holder of Subordinated Indebtedness shall receive any payment on the Subordinated Indebtedness at a time when the making or acceptance thereof is prohibited by the provisions of this Agreement, it shall hold the payment in trust for the benefit of the holder of the Senior Indebtedness and shall promptly pay it over to the holder of the Senior Indebtedness for application in payment of the Senior Indebtedness. If the Senior Lender shall receive any payments to which it is not entitled under this Subordination Agreement, such payment shall be held in trust for the benefit of the holders of the Subordinated Indebtedness and shall be promptly paid to the holders of the Subordinated Indebtedness.
Agreement to Hold In Trust. If, notwithstanding the foregoing, any -------------------------- payment or distribution of the assets of the Tenant of any kind or character, other than distributions expressly permitted hereunder, shall be received, by set-off or otherwise, by the Subordinated Creditor in violation of the terms of this Agreement, the Subordinated Creditor shall promptly notify the Senior Creditor of any such payment or distribution and shall deliver such payment or distribution, in the form received, except for the addition of any required endorsement or assignment, to the Senior Creditor for application in accordance herewith. Until so delivered, any such payment or distribution shall be held by the Subordinated Creditor in trust for the Senior Creditor and shall not be commingled with other funds or property of the Subordinated Creditor.
