Common use of Application of Withheld Amounts Clause in Contracts

Application of Withheld Amounts. If on any Distribution Date any amounts on deposit to the Collateral Account are distributable pursuant to Section 5.01 to any Representative, and if such Representative shall have given notice to the Collateral Trustee on or prior to such Distribution Date that all or a portion of such proceeds which are otherwise distributable to such Representative pursuant to Section 5.01 shall be held by the Collateral Trustee on behalf of such Representative for the benefit of the Secured Holders of such Representative, then, subject to the last sentence of this Section 5.02, the Collateral Trustee shall hold such amount in a separate non-interest bearing cash collateral account of the Collateral Trustee for the benefit of such Representative and such Secured Holders, until such time as such Representative shall deliver a written request for the delivery thereof from such account to such Representative or as such Representative may otherwise direct in such notice. If thereafter the Secured Obligations of the Secured Holders represented by any such Representative shall have been repaid in full in cash on any date, then (a) upon the written request of the Company (or any other Representative) certifying as to such payment in full, and (b) after delivery of such notice by the Collateral Trustee to such Representative, the Collateral Trustee shall not have received a written notice of objection from such Representative within 10 Business Days after such Representative's receipt of such notice, promptly following such 10th Business Day (or the earlier receipt by the Collateral Trustee of the written consent of such Representative), any amounts held on account for such Representative pursuant to this Section 5.02 shall be again deposited by the Collateral Trustee to the Collateral Account and thereafter distributed as provided in Section 5.01. The Collateral Trustee shall invest amounts on deposit to any such account in such Marketable Securities as the applicable Representative may direct from time to time.

Application of Withheld Amounts. If on any Distribution Date any amounts on deposit to the Collateral Account are distributable pursuant to Section 5.01 to any Representative, and if such Representative shall have given notice to the Collateral Trustee Trustees on or prior to such Distribution Date that all or a portion of such proceeds which are otherwise distributable to such Representative pursuant to Section 5.01 shall be held by the Collateral Trustee Trustees on behalf of such Representative for the benefit of the Secured Holders of such Representative, then, subject to the last sentence of this Section 5.02, then the Collateral Trustee Trustees shall hold such amount in a separate non-interest bearing cash collateral account of the Collateral Corporate Trustee for the benefit of such Representative and such Secured Holders, until such time as such Representative shall deliver a written request for the delivery thereof from such account to such Representative or as such Representative may otherwise direct in such notice. If thereafter the Secured Obligations of the Secured Holders represented by any such Representative shall have been repaid in full in cash on any date, then (a) upon the written request of the Company Grantor (or any other Representative) certifying as to such payment in full, and (b) after delivery of such notice by the Collateral Trustee Trustees to such Representative, the Collateral Trustee Trustees shall not have received a written notice of objection from such Representative within 10 Business Days after 30 days such Representative's receipt of such notice, promptly following such 10th Business Day 30th day (or the earlier receipt by the Collateral Trustee Trustees of the written consent of such Representative), any amounts held on account for such Representative pursuant to this Section 5.02 shall be again deposited by the Collateral Trustee to the Collateral Account and thereafter distributed as provided in Section 5.01. The Collateral Corporate Trustee shall invest amounts on deposit to any such account in such Marketable Securities Cash Equivalents as the applicable Representative may direct from time to time.

Application of Withheld Amounts. If on any Distribution Date any amounts on deposit to the Collateral Account are distributable pursuant to Section 5.01 to any Representative, and if such Representative shall have given notice to the Collateral Trustee on or prior to such Distribution Date that all or a portion of such proceeds which are otherwise distributable to such Representative pursuant to Section 5.01 shall be held by the Collateral Trustee on behalf of such Representative for the benefit of the Secured Holders of such Representative, then, subject to the last sentence of this Section 5.02, then the Collateral Trustee shall hold such amount in a separate non-interest bearing cash collateral account of the Collateral Trustee for the benefit of such Representative and such Secured Holders, until such time as such Representative shall deliver a written request for the delivery thereof from such account to such Representative or as such Representative may otherwise direct in such notice. If thereafter the Secured Obligations of the Secured Holders represented by any such Representative shall have been repaid in full in cash on any date, then (a) upon the written request of the Company Grantor (or any other Representative) certifying as to such payment in full, and (b) after delivery of such notice by the Collateral Trustee to such Representative, the Collateral Trustee shall not have received a written notice of objection from such Representative within 10 Business Days after 30 days such Representative's receipt of such notice, promptly following such 10th Business Day 30th day (or the earlier receipt by the Collateral Trustee of the written consent of such Representative), any amounts held on account for such Representative pursuant to this Section 5.02 shall be again deposited by the Collateral Trustee to the Collateral Account and thereafter distributed as provided in Section 5.01. The Collateral Trustee shall invest amounts on deposit to any such account in such Marketable Securities Cash Equivalents as the applicable Representative may direct from time to time.

Application of Withheld Amounts. If on any Distribution Date any amounts on deposit to the Collateral Account are distributable pursuant to Section 5.01 to any Representative, and if such Representative shall have given notice to the Collateral Trustee Trustees on or prior to such Distribution Date that all or a portion of such proceeds which are otherwise distributable to such Representative pursuant to Section 5.01 shall be held by the Collateral Trustee Trustees on behalf of such Representative for the benefit of the Secured Holders of such Representative, then, subject to the last sentence of this Section 5.02, then the Collateral Trustee Trustees shall hold such amount in a separate non-interest bearing cash collateral account of the Collateral Corporate Trustee for the benefit of such Representative and such Secured Holders, until such time as such Representative shall deliver a written request for the delivery thereof from such account to such Representative or as such Representative may otherwise direct in such notice. If thereafter the Secured Obligations of the Secured Holders represented by any such Representative shall have been repaid in full in cash on any date, then (a) upon the written request of the Company USI (or any other Representative) certifying as to such payment in full, and (b) after delivery of such notice by the Collateral Trustee Trustees to such Representative, the Collateral Trustee Trustees shall not have received a written notice of objection from such Representative within 10 Business Days after 30 days such Representative's receipt of such notice, promptly following such 10th Business Day 30th day (or the earlier receipt by the Collateral Trustee Trustees of the written consent of such Representative), any amounts held on account for such Representative pursuant to this Section 5.02 shall be again deposited by the Collateral Trustee to the Collateral Account and thereafter distributed as provided in Section 5.01. The Collateral Corporate Trustee shall invest amounts on deposit to any such account in such Marketable Securities Cash Equivalents as the applicable Representative may direct from time to time.

Application of Withheld Amounts. If on any Distribution Date any amounts on deposit to the Collateral Account are distributable pursuant to Section 5.01 to any Representative, and if such Representative shall have given notice to the Collateral Trustee Trustees on or prior to such Distribution Date that all or a portion of such proceeds which are otherwise distributable to such Representative pursuant to Section 5.01 shall be held by the Collateral Trustee Trustees on behalf of such Representative for the benefit of the Secured Holders Parties of such Representative, then, subject to the last sentence of this Section 5.02, then the Collateral Trustee Trustees shall hold such amount in a separate non-interest bearing cash collateral account of the Collateral Corporate Trustee for the benefit of such Representative and such Secured HoldersParties, until such time as such Representative shall deliver a written request for the delivery thereof from such account to such Representative or as such Representative may otherwise direct in such notice. If on any date thereafter the Secured Obligations of the Secured Holders Parties represented by any such Representative shall have been repaid in full in cash on any dateand all letters of credit that constitute Secured Obligations with respect to such Secured Parties and all commitments thereunder have been terminated or cash collateralized in full, then (a) upon the written request of the Company (or any other Representative) Borrower certifying as to such payment and termination or cash collateralization in full, and (b) after delivery of such notice by the Collateral Trustee Trustees to such Representative, the Collateral Trustee Trustees shall not have received a written notice of no objection from such Representative within 10 Business Days after such Representative's receipt of such notice, promptly following such 10th Business Day (or the earlier receipt by the Collateral Trustee of Trustees shall redeposit to the written consent of such Representative), Collateral Account any amounts held on account for such Representative pursuant to this Section 5.02 shall be again deposited by the Collateral Trustee to the Collateral Account and thereafter distributed distribute such amounts as provided in Section 5.01. If the Borrower shall have failed to deliver to the Collateral Trustees the certificate provided for in clause (a) of the immediately preceding sentence, the Collateral Trustees may request payment instructions from the Required Representative and the Collateral Trustees shall not be required to make any distributions until such instructions are received. The Collateral Corporate Trustee shall invest amounts on deposit to any such account in such Marketable Securities Cash Equivalents as the applicable Representative may direct from time to time.