Common use of APPLICATION OF COMPENSATION MONEYS Clause in Contracts

APPLICATION OF COMPENSATION MONEYS. (a) All moneys received as or by way of compensation in respect of any of the matters referred to in Section 7.01 hereof shall be applied in or towards the discharge or payment of the Indebtedness secured by this Charge and the Chargor shall, and hereby declare that the Chargor will hold all such moneys if paid to and received by hereunder in trust for the Chargee and the Chargor agree and confirm that the Chargee may receive and give a good discharge for all such moneys. (b) In the event of all such monies aforesaid being less than the amount due to the Chargee hereunder, the Chargor shall forthwith pay to the Chargee the difference between the amount due and the amount so received.

APPLICATION OF COMPENSATION MONEYS. (a) All moneys received as or by way of compensation in respect of any of the matters referred to in Section 7.01 6.01 hereof shall be applied in or towards the discharge di scharge or payment of the Indebtedness any money or liability secured by this Charge and the Chargor shall, and hereby declare that the Chargor will hold all such moneys if paid to and received by hereunder in trust for the Chargee and the Chargor agree agrees and confirm confirms that the Chargee may receive and give a good discharge for all such moneys. (b) In the event of all such monies aforesaid being less than the amount due to the Chargee hereunder, the Chargor shall forthwith pay to the Chargee the difference between the amount due and the t he amount so received.

APPLICATION OF COMPENSATION MONEYS. (a) All moneys received as or by way of compensation in respect of any of the matters referred to in Section 7.01 6.01 hereof shall be applied in or towards the discharge or payment of the Indebtedness any money or liability secured by this Charge and the Chargor shall, and hereby declare that the Chargor will hold all such moneys if paid to and received by hereunder in trust for the Chargee and the Chargor agree agrees and confirm confirms that the Chargee may receive and give a good discharge for all such moneys. (b) In the event of all such monies aforesaid being less than the amount due to the Chargee hereunder, the Chargor shall forthwith pay to the Chargee the difference between the amount due and the amount so received.

APPLICATION OF COMPENSATION MONEYS. (a) All moneys received as or by way of compensation in respect of any of the matters referred to in Section 7.01 6.01 hereof shall be applied in or towards the discharge or payment of the Indebtedness any money or liability secured by this Charge and the other Security Documents and the Chargor shall, and hereby declare that the Chargor will hold all such moneys if paid to and received by hereunder in trust for the Chargee and the Chargor agree agrees and confirm confirms that the Chargee may receive and give a good discharge for all such moneys. (b) . In the event of all such monies aforesaid moneys being less than the amount due to the Chargee hereunder, the Chargor shall forthwith pay to the Chargee the difference between the amount due and the amount so received.