Common use of Disposition of Obligations Received Clause in Contracts

Disposition of Obligations Received. (a) The Company shall cause all obligations permitted to be received under this Article 12 or the other provisions of this Indenture (including, without limitation, securities, notes, receivables and the like received in connection with an Asset Disposition) to be deposited with the Collateral Agent to be held by the Collateral Agent as part of the Collateral. (b) The Trustee shall direct the Collateral Agent to release any such obligation referred to in the foregoing paragraph (a) upon (i) payment by or on behalf of the Company in cash or Temporary Cash Investments to the Collateral Agent for deposit in the Collateral Accounts in accordance with the provisions of the Collateral Agency Agreement of the entire unpaid principal amount of such obligation and (ii) upon receipt of an Officer's Certificate and an Opinion of Counsel that the foregoing condition has been satisfied. (c) The Company shall cause the cash or Temporary Cash Investments received by the Collateral Agent in respect of principal of any such obligations referred to in subsection (a) above to be deposited in the Collateral Accounts in accordance with the provisions of the Collateral Agency Agreement. The Company may use any such funds on deposit, or funds deposited pursuant to subsection (b) above, to purchase Additional Assets as permitted by Section 4.08 (with relevant time periods being calculated based upon the date of deposit in the Notes Collateral Account) or as set forth in Section 13.02. If such funds are not so used within the time period permitted by Section 4.08, such amounts shall become Excess Proceeds, and shall become subject to disposition as set forth in Section 4.08, including if the Excess Proceeds Offer is not fully subscribed, to purchase New Collateral Assets as set forth in Section 4.08(c). (d) Until the Notes are accelerated pursuant to Section 6.02, all interest and other income on any obligations referred to in paragraph (a), when received by the Collateral Agent shall be paid to the Company from time to time to the extent allocable to the Trustee as a Secured Creditor. If the Notes have been accelerated pursuant to Section 6.02, any such interest or other income not theretofore paid, when collected by the Collateral Agent, and distributed to the Trustee in accordance with the Collateral Agency Agreement, shall be applied by the Trustee in accordance with Section 6.10. (e) Any release of any portion of the Collateral made strictly in compliance with the provisions of this Section 12.13 shall not be deemed to impair the Liens created by the Security Documents in contravention of the provisions of this Indenture.

Disposition of Obligations Received. (a) The Company shall cause all obligations permitted to be received under this Article 12 or the other provisions of this Indenture (including, without limitation, securities, notes, receivables and the like received in connection with an Asset Disposition) to be deposited with the Collateral Agent to be held by the Collateral Agent as part of the Collateral. (b) The Trustee shall direct the Collateral Agent to release any such obligation referred to in the foregoing paragraph (a) upon (i) payment by or on behalf of the Company in cash or Temporary Cash Investments to the Collateral Agent for deposit in the Collateral Accounts in accordance with the provisions of the Collateral Agency Agreement of the entire unpaid principal amount of such obligation and (ii) upon receipt of an Officer's Certificate and an Opinion of Counsel that the foregoing condition has been satisfied. (c) The Company shall cause the cash or Temporary Cash Investments received by the Collateral Agent in respect of principal of any such obligations referred to in subsection (a) above to be deposited in the Collateral Accounts in accordance with the provisions of the Collateral Agency Agreement. The Company may use any such funds on deposit, or funds deposited pursuant to subsection (b) above, to purchase Additional Assets as permitted by Section 4.08 (with relevant time periods being calculated based upon the date of deposit in the Notes Collateral Account) or as set forth in Section 13.02. If such funds are not so used within the time period permitted by Section 4.08, such amounts shall become Excess Proceeds, and shall become subject to disposition as set forth in Section 4.08, including if the Excess Proceeds Offer is not fully subscribed, to purchase New Collateral Assets as set forth in Section 4.08(c). (d) Until the Notes are accelerated pursuant to Section 6.02, all interest and other income on any obligations referred to in paragraph (a), when received by the Collateral Agent shall be paid to the Company from time to time to the extent allocable to the Trustee as a Secured Creditor. If the Notes have been accelerated pursuant to Section 6.02, any such interest or other income not theretofore paid, when collected by the Collateral Agent, and distributed to the Trustee in accordance with the Collateral Agency Agreement, shall be applied by the Trustee in accordance with Section 6.10. (e) Any release of any portion of the Collateral made strictly in compliance with the provisions of this Section 12.13 shall not be deemed to impair the Liens created by the Security Documents in contravention of the provisions of this Indenture.in