Common use of Deposit into the Loss Proceeds Account Clause in Contracts

Deposit into the Loss Proceeds Account. The Company shall deposit, and shall use commercially reasonable efforts to cause third parties that would otherwise make payments directly to the Company to deposit, into the Loss Proceeds Account the Net Available Amount of all Loss Proceeds upon receipt thereof. If Loss Proceeds are received by the Company, the Company shall hold such payments in trust for Depositary and shall promptly remit the Net Available Amount of such Loss Proceeds to Depositary for deposit into the Loss Proceeds Account, in the form received, with any necessary endorsements.

Appears in 5 contracts

Samples: Depositary Agreement (Bloom Energy Corp), Depositary Agreement (Bloom Energy Corp), Depositary Agreement (Bloom Energy Corp)

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