Common use of Application of Moneys Distributable to Secured Parties Clause in Contracts

Application of Moneys Distributable to Secured Parties. If at any time any moneys collected or received by the Collateral Agent pursuant to this Agreement, the Intercreditor Agreement or any Security Document are distributable pursuant to Section 4(d) to the Senior Indenture Trustee or any Additional Authorized Representatives, and if the Senior Indenture Trustee or such Additional Authorized Representative shall notify the Collateral Agent that no provision is made under the applicable Senior Secured Note Documents or Additional Secured Debt Documents, as applicable, (i) for the application by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts so distributable (whether by virtue of the Senior Secured Note Obligations or the applicable Additional Secured Obligations not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts pending the application thereof, then the Collateral Agent shall invest, at the written direction of the Senior Indenture Trustee or such Additional Authorized Representative, all such amounts applicable to the Senior Secured Note Obligations or the Additional Secured Obligations in obligations of the kinds referred to in Section 4(c) (with the particular investment specified in writing by the Senior Indenture Trustee or such Additional Authorized Representative), or in the absence of such direction hold such amounts uninvested as provided in Section 4(c), and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Senior Indenture Trustee and/or such Additional Authorized Representative and for no other purpose until such time as the Senior Indenture Trustee or such Additional Authorized Representative shall request the delivery thereof by the Collateral Agent to the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, for application by it pursuant to the Senior Secured Note Documents or the Additional Secured Debt Documents, as applicable. This Section 4 is intended for the benefit of, and will be enforceable as a third-party beneficiary by, each present and future holder of Secured Obligations, each present and future Senior Indenture Trustee, each present and future Additional Authorized Representative and the Collateral Agent as a Secured Party, in each case subject to the terms of the Intercreditor Agreement.

Application of Moneys Distributable to Secured Parties. If at any time any moneys collected or received by the Collateral Agent pursuant to this Agreement, the Intercreditor Agreement or any Security Collateral Document are distributable pursuant to Section 4(d) 4.04 to the Senior Indenture Trustee or any Additional Authorized RepresentativesNew Representative, and if the Senior Indenture Trustee or such Additional Authorized New Representative shall notify the Collateral Agent that no provision is made under the applicable Senior Secured Note Documents or Additional Secured Debt New Documents, as applicable, (ia) for the application by the Senior Indenture Trustee or such Additional Authorized New Representative, as applicable, of such amounts so distributable (whether by virtue of the Senior Secured Note Obligations or the applicable Additional Secured New Obligations not having become due and payable or otherwise) or (iib) for the receipt and the holding by the Senior Indenture Trustee or such Additional Authorized New Representative, as applicable, of such amounts pending the application thereof, then the Collateral Agent shall invest, at the written direction of the Senior Indenture Trustee or such Additional Authorized RepresentativeMajority Holders, all such amounts applicable to the Senior Secured Note Obligations or the Additional Secured New Obligations in obligations of the kinds referred to in Section 4(c) (4.03, with the particular specific investment specified in writing by the Senior Indenture Trustee or such Additional Authorized Representative), or in the absence of such direction hold such amounts uninvested as provided in Section 4(c), and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Senior Indenture Trustee and/or such Additional Authorized New Representative and for no other purpose until such time as the Senior Indenture Trustee or such Additional Authorized New Representative shall request the delivery thereof by the Collateral Agent to the Senior Indenture Trustee or such Additional Authorized New Representative, as applicable, for application by it pursuant to the Senior Secured Note Documents or the Additional Secured Debt New Documents, as applicable. This Section Article 4 is intended for the benefit of, and will be enforceable as a third-third party beneficiary by, each present and future holder of Secured Obligations, each present and future Senior Indenture Trustee, each present and future Additional Authorized New Representative and the Collateral Agent as a Secured Party, in each case subject to the terms of the Intercreditor Agreement.

Application of Moneys Distributable to Secured Parties. If at any time any moneys collected or received by the Collateral Agent pursuant to this Agreement, the Intercreditor Agreement or any Security Document are distributable pursuant to Section 4(d) to the Senior Indenture Trustee or any Additional Authorized Representatives, and if the Senior Indenture Trustee or such Additional Authorized Representative shall notify the Collateral Agent that no provision is made under the applicable Senior Secured Note Documents or Additional Secured Debt Documents, as applicable, (i) for the application by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts so distributable (whether by virtue of the Senior Secured Note Obligations or the applicable Additional Secured Obligations not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts pending the application thereof, then the Collateral Agent shall invest, at the written direction of the Senior Indenture Trustee or such Additional Authorized Representative, all such amounts applicable to the Senior Secured Note Obligations or the Additional Secured Obligations in obligations of the kinds referred to in Section 4(c) (with the particular investment specified in writing by the Senior Indenture Trustee or such Additional Authorized Representative), or in the absence of such direction hold invest such amounts uninvested in the First American Government Obligations Fund as provided in Section 4(c), and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Senior Indenture Trustee and/or such Additional Authorized Representative and for no other purpose until such time as the Senior Indenture Trustee or such Additional Authorized Representative shall request the delivery thereof by the Collateral Agent to the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, for application by it pursuant to the Senior Secured Note Documents or the Additional Secured Debt Documents, as applicable. This Section 4 is intended for the benefit of, and will be enforceable as a third-party beneficiary by, each present and future holder of Secured Obligations, each present and future Senior Indenture Trustee, each present and future Additional Authorized Representative and the Collateral Agent as a Secured Party, in each case subject to the terms of the Intercreditor Agreement.

Application of Moneys Distributable to Secured Parties. If at any time any moneys collected or received by the Collateral Agent Trustee pursuant to this Agreement, the Intercreditor Agreement or any Security Document are distributable pursuant to Section 4(d) to the Senior Indenture Credit Agreement Administrative Agent, the Trustee or any Additional Authorized Representatives, and if the Senior Indenture Credit Agreement Administrative Agent, the Trustee or such Additional Authorized Representative shall notify the Collateral Agent Trustee that no provision is made under the applicable Senior Secured the Credit Agreement Documents, Note Documents or Additional Secured Parity Lien Debt Documents, as applicable, (i) for the application by the Senior Indenture Credit Agreement Administrative Agent, the Trustee or such Additional Authorized Representative, as applicable, of such amounts so distributable (whether by virtue of the Senior Secured Credit Agreement Obligations, the Note Obligations or the applicable Additional Secured Parity Lien Obligations not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Senior Indenture Credit Agreement Administrative Agent, the Trustee or such Additional Authorized Representative, as applicable, of such amounts pending the application thereof, then the Collateral Agent Trustee shall invest, at the written direction of the Senior Indenture Credit Agreement Administrative Agent, the Trustee or such Additional Authorized Representative, as applicable, all such amounts applicable to the Senior Secured Credit Agreement Obligations, the Note Obligations or the Additional Secured Parity Lien Obligations in obligations of the kinds referred to in Section 4(c) (with the particular investment specified in writing by the Senior Indenture Credit Agreement Administrative Agent, the Trustee or such Additional Authorized Representative), or in the absence of such direction hold such amounts uninvested as provided in Section 4(c), and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Senior Indenture Credit Agreement Administrative Agent, the Trustee and/or such Additional Authorized Representative and for no other purpose until such time as the Senior Indenture Credit Agreement Administrative Agent, the Trustee or such Additional Authorized Representative shall request the delivery thereof by the Collateral Agent Trustee to the Senior Indenture Credit Agreement Administrative Agent, the Trustee or such Additional Authorized Representative, as applicable, for application by it pursuant to the Senior Secured Credit Agreement Documents, the Note Documents or the Additional Secured Parity Lien Debt Documents, as applicable. This Section 4 is intended for the benefit of, and will be enforceable as a third-party beneficiary by, each present and future holder of Secured Parity Lien Obligations, each present and future Senior Indenture Credit Agreement Administrative Agent, each present and future Trustee, each present and future Additional Authorized Representative and the Collateral Agent Trustee as a Secured Party, in each case subject to the terms of the Intercreditor Agreement.

Application of Moneys Distributable to Secured Parties. If at any time any moneys collected or received by the Collateral Agent pursuant to this Agreement, the ABL Intercreditor Agreement or any Security Document are distributable pursuant to Section 4(d) to the Senior Indenture Trustee or any Additional Authorized Representatives, and if the Senior Indenture Trustee or such Additional Authorized Representative shall notify the Collateral Agent that no provision is made under the applicable Senior Secured Note Documents or Additional Secured Debt Documents, as applicable, (i) for the application by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts so distributable (whether by virtue of the Senior Secured Note Obligations or the applicable Additional Secured Obligations not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts pending the application thereof, then the Collateral Agent shall invest, at the written direction of the Senior Indenture Trustee or such Additional Authorized Representative, all such amounts applicable to the Senior Secured Note Obligations or the Additional Secured Obligations in obligations of the kinds referred to in Section 4(c) (with the particular investment specified in writing by the Senior Indenture Trustee or such Additional Authorized Representative), or in the absence of such direction hold such amounts uninvested as provided in Section 4(c), and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Senior Indenture Trustee and/or such Additional Authorized Representative and for no other purpose until such time as the Senior Indenture Trustee or such Additional Authorized Representative shall request the delivery thereof by the Collateral Agent to the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, for application by it pursuant to the Senior Secured Note Documents or the Additional Secured Debt Documents, as applicable. This Section 4 is intended for the benefit of, and will be enforceable as a third-party beneficiary by, each present and future holder of Secured Obligations, each present and future Senior Indenture Trustee, each present and future Additional Authorized Representative and the Collateral Agent as a Secured Party, in each case subject to the terms of the ABL Intercreditor Agreement.

Application of Moneys Distributable to Secured Parties. If at any time any moneys collected or received by the Collateral Agent pursuant to this Agreement, the Intercreditor Agreement or any Security Document are distributable pursuant to Section 4(d) to the Senior Indenture Trustee or any Additional Authorized Representatives, and if the Senior Indenture Trustee or such Additional Authorized Representative shall notify the Collateral Agent that no provision is made under the applicable Senior Secured Note Documents or Additional Secured Debt Documents, as applicable, (i) for the application by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts so distributable (whether by virtue of the Senior Secured Note Obligations or the applicable Additional Secured Obligations not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts pending the application thereof, then the Collateral Agent shall invest, at the written direction of the Senior Indenture Trustee or such Additional Authorized Representative, all such amounts applicable to the Senior Secured Note Obligations or the Additional Secured Obligations in obligations of the kinds referred to in Section 4(c) (with the particular investment specified in writing by the Senior Indenture Trustee or such Additional Authorized Representative), or in the absence of such direction hold such amounts uninvested as provided in Section 4(c), and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Senior Indenture Trustee and/or such Additional Authorized Representative and for no other purpose until such time as the Senior Indenture Trustee or such Additional Authorized Representative shall request the delivery thereof by the Collateral Agent to the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, for application by it pursuant to the Senior Secured Note Documents or the Additional Secured Debt Documents, as applicable. This Section 4 is intended for the benefit of, and will be enforceable as a third-party beneficiary by, each present and future holder of Secured Obligations, each present and future Senior Indenture Trustee, each present and future Additional Authorized Representative and the Collateral Agent as a Secured Party, in each case subject to the terms of the Intercreditor Agreement.for

Application of Moneys Distributable to Secured Parties. If at any time any moneys collected or received by the Collateral Agent Trustee pursuant to this Agreement, the Intercreditor Agreement or any Security Document are distributable pursuant to Section 4(d) to the Senior Indenture Trustee or any Additional Authorized Representatives, and if the Senior Indenture Trustee or such Additional Authorized Representative shall notify the Collateral Agent Trustee that no provision is made under the applicable Senior Secured Note Documents or Additional Secured Parity Lien Debt Documents, as applicable, (i) for the application by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts so distributable (whether by virtue of the Senior Secured Note Obligations or the applicable Additional Secured Parity Lien Obligations not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts pending the application thereof, then the Collateral Agent Trustee shall invest, at the written direction of the Senior Indenture Trustee or such Additional Authorized Representative, all such amounts applicable to the Senior Secured Note Obligations or the Additional Secured Parity Lien Obligations in obligations of the kinds referred to in Section 4(c) (with the particular investment specified in writing by the Senior Indenture Trustee or such Additional Authorized Representative), or in the absence of such direction hold such amounts uninvested as provided in Section 4(c), and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Senior Indenture Trustee and/or such Additional Authorized Representative and for no other purpose until such time as the Senior Indenture Trustee or such Additional Authorized Representative shall request the delivery thereof by the Collateral Agent Trustee to the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, for application by it pursuant to the Senior Secured Note Documents or the Additional Secured Parity Lien Debt Documents, as applicable. This Section 4 is intended for the benefit of, and will be enforceable as a third-party beneficiary by, each present and future holder of Secured Parity Lien Obligations, each present and future Senior Indenture Trustee, each present and future Additional Authorized Representative and the Collateral Agent Trustee as a Secured Party, in each case case, subject to the terms of the Intercreditor Agreement.

Application of Moneys Distributable to Secured Parties. If at any time any moneys collected or received by the Collateral Agent Trustee pursuant to this Agreement, the ABL Intercreditor Agreement or any Security Document are distributable pursuant to Section 4(d) to the Term Loan Agent, the Senior Indenture Trustee or any Additional Authorized Representatives, and if the Term Loan Agent, the Senior Indenture Trustee or such Additional Authorized Representative shall notify the Collateral Agent Trustee that no provision is made under the applicable Term Loan Documents, Senior Secured Note Documents or Additional Secured Debt Documents, as applicable, (i) for the application by the Term Loan Agent, the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts so distributable (whether by virtue of the Term Loan Obligations, the Senior Secured Note Obligations or the applicable Additional Secured Obligations not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Term Loan Agent, the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, of such amounts pending the application thereof, then the Collateral Agent Trustee shall invest, at the written direction of the Term Loan Agent, the Senior Indenture Trustee or such Additional Authorized Representative, all such amounts applicable to the Term Loan Obligations, the Senior Secured Note Obligations or the Additional Secured Obligations in obligations of the kinds referred to in Section 4(c) (with the particular investment specified in writing by the Term Loan Agent, the Senior Indenture Trustee or such Additional Authorized Representative), or in the absence of such direction hold such amounts uninvested as provided in Section 4(c), and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Term Loan Agent, the Senior Indenture Trustee and/or such Additional Authorized Representative and for no other purpose until such time as the Term Loan Agent, the Senior Indenture Trustee or such Additional Authorized Representative shall request the delivery thereof by the Collateral Agent Trustee to the Term Loan Agent, the Senior Indenture Trustee or such Additional Authorized Representative, as applicable, for application by it pursuant to the Term Loan Documents, the Senior Secured Note Documents or the Additional Secured Debt Documents, as applicable. This Section 4 is intended for the benefit of, and will be enforceable as a third-party beneficiary by, each present and future holder of Secured Obligations, each present and future Term Loan Agent, each present and future Senior Indenture Trustee, each present and future Additional Authorized Representative and the Collateral Agent Trustee as a Secured Party, in each case subject to the terms of the ABL Intercreditor Agreement.