Delivery to Secured Party. If any Collateral is received by Debtor after the occurrence of an Event of Default, Debtor shall deliver to Secured Party all such Collateral on the day received, with any checks being endorsed by Debtor in favor of Secured Party. Debtor shall not commingle any such Collateral with any other funds, proceeds or monies of Debtor and shall keep such proceeds separate and apart from any other funds, proceeds or monies of Debtor and shall hold any such Collateral in trust for Secured Party until same shall be paid over to Secured Party as agreed to herein.
Appears in 2 contracts
Samples: Credit Agreement (Primeenergy Corp), Security Agreement (Primeenergy Corp)
Delivery to Secured Party. If Except as otherwise provided in the Loan Agreement, if any Collateral is received by Debtor after the occurrence of an Event of DefaultDebtor, the Debtor shall deliver deliver, or cause to be delivered, to Secured Party all such Collateral on the day receivedreceived or promptly thereafter, with any checks being endorsed by the Debtor in favor of Secured Party. The Debtor shall not commingle any such Collateral with any other funds, proceeds or monies of Debtor and shall keep such proceeds separate and apart from any other funds, proceeds or monies of Debtor and shall hold any such Collateral in trust for Secured Party until same shall be paid over to Secured Party as agreed to hereinthe Debtor.
Appears in 2 contracts
Samples: Guarantee and Pledge Agreement (Viking Energy Group, Inc.), Pledge Agreement (Royale Energy, Inc.)
