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.
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Samples: Intercreditor and Subordination Agreement (Airnet Communications Corp), Intercreditor and Subordination Agreement (Airnet Communications Corp), Securities Purchase Agreement (Airnet Communications Corp)
Agreement to Hold In Trust. If the Subordinated Lender Creditor 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 holders of the Senior Indebtedness and, promptly upon discovery or notice of such violation, pay it over to the Lenders Lender on behalf of such holder for application in payment of the Senior Indebtedness.
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Samples: Subordination Agreement (Velocity Asset Management Inc)
Agreement to Hold In Trust. If the Subordinated Lender Creditors or any -------------------------- other holders of Subordinated Indebtedness shall receive any payment payments on account of the Subordinated Indebtedness in violation of this Agreement, it they shall hold such payment payments in trust for the benefit of the Lenders and, promptly upon discovery holder or notice holders of such violation, the Senior Indebtedness and pay it them over to the Lenders Senior Creditor for application in payment of the Senior Indebtedness.
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