Common use of Certain Cash Distributions Clause in Contracts

Certain Cash Distributions. Cash Distributions with respect to assets held in a Collateral Account shall be deposited and held therein, or withdrawn therefrom, as provided in Section 10. Cash Distributions with respect to any Pledged Equity Interest or Pledged Debt that is not held in a Collateral Account (whether held in the name of a Grantor or in the name of the Administrative Agent or its nominee) shall be deposited, promptly upon receipt thereof, in a Controlled Deposit Account of the relevant Grantor or in a zero balance account which is swept to a Controlled Deposit Account; provided that, if an Event of Default shall have occurred and be continuing, the Administrative Agent may deposit, or direct the recipient thereof to deposit, each such Cash Distribution in the relevant Grantor’s Cash Collateral Account; provided, further, the rest of this provision shall not apply to payroll or employee benefit accounts.

Certain Cash Distributions. Cash Distributions with respect to assets held in a Collateral Account shall be deposited and held therein, or withdrawn therefrom, as provided in Section 1012. Cash Distributions with respect to any Pledged Equity Interest or Pledged Debt Indebtedness that is not held in a Collateral Account (whether held in the name of a Lien Grantor or in the name of the Administrative Agent or its nominee) shall shall, except as provided in Section 10(d), be deposited, promptly upon receipt thereof, in a Controlled Deposit Account of the relevant Grantor or in a zero balance account which is swept to a Controlled Deposit AccountLien Grantor; provided that, if an Event of Default shall have occurred and be continuing, the Administrative Agent may deposit, or direct the recipient thereof to deposit, each such Cash Distribution in the relevant Lien Grantor’s 's Cash Collateral Account; provided, further, the rest of this provision shall not apply to payroll or employee benefit accounts.

Certain Cash Distributions. Cash Distributions with respect to assets held in a Collateral Account shall be deposited and held therein, or withdrawn therefrom, as provided in Section 10. Cash Distributions with respect to any Pledged Equity Interest or Pledged Debt that is not held in a Collateral Account (whether held in the name of a Grantor or in the name of the Administrative Agent or its nominee) shall be deposited, promptly upon receipt thereof, in a Controlled Deposit Account of the relevant Grantor or in a zero balance account which is swept to a Controlled Deposit Account; provided that, if an Event of Default shall have occurred and be continuing, the Administrative Agent may deposit, or direct the recipient thereof to deposit, each such Cash Distribution in the relevant Grantor’s 's Cash Collateral Account; provided, further, the rest of this provision shall not apply to payroll or employee benefit accounts.

Certain Cash Distributions. Cash Distributions with respect to assets held in a Collateral Account shall be deposited and held therein, or withdrawn therefrom, as provided in Section 1012. Cash Distributions with respect to any Pledged Equity Interest or Pledged Debt that is not held in a Collateral Account (whether held in the name of a Lien Grantor or in the name of the Administrative Agent or its nominee) shall be deposited, promptly upon receipt thereof, in a Controlled Deposit Account or other Deposit Account permitted by Section 10(d) of the relevant Grantor or in a zero balance account which is swept to a Controlled Deposit AccountLien Grantor; provided that, if an Event of Default shall have occurred and be continuing, the Administrative Agent may deposit, or direct the recipient thereof to deposit, each such Cash Distribution in the relevant Lien Grantor’s 's Cash Collateral Account; provided, further, the rest of this provision shall not apply to payroll or employee benefit accounts.