Common use of Authorization of Receipt of Funds by the Authorized Representative Under the Security Documents Clause in Contracts

Authorization of Receipt of Funds by the Authorized Representative Under the Security Documents. Subject to the provisions of the Security Agreement, the Authorized Representative is authorized to receive any funds for the benefit of the Holders distributed under the Security Documents, and to make further distributions of such funds to the Trustee for further distribution to the Holders according to the provisions of this Indenture.

Authorization of Receipt of Funds by the Authorized Representative Under the Security Documents. Subject to the provisions of the Security Agreement, the Notes Authorized Representative is authorized to receive any funds for the benefit of the Holders distributed under the Security DocumentsDocuments and the Pari Passu Intercreditor Agreement, and to make further distributions of such funds to the Trustee for further distribution to the Holders according to the provisions of this Indenture.