Common use of Duty To Hold In Trust Clause in Contracts

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interest, whether payable pursuant to the Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, the Debtor shall, upon receipt of any revenue, income, dividend, interest income or other sums subject to the Security Interest, whether payable pursuant to the Note Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, Debtor the Debtors shall, upon receipt of any revenue, income, dividend, interest income or other sums subject to the Security Interest, whether payable pursuant to the Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of ---------------------- Default and at any time thereafter, each Debtor shall, upon receipt by it of any revenue, income, dividend, interest income or other sums subject to the Security Interest, whether payable pursuant to the Note Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party Parties for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default hereunder and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interest, whether payable pursuant to the Note Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or bothboth (to the extent permitted by law), to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security InterestInterests, whether payable pursuant to the Note Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interest, whether payable pursuant to the Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or bothboth (to the extent permitted by law), to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence and during the continuation of any Event of Default and at any time thereafterDefault, Debtor the Debtors shall, upon receipt by it of any revenue, income, dividend, interest income or other sums subject to the Security Interest, whether payable pursuant to the Note Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party Parties for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interest, whether payable pursuant to the Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interest, whether payable pursuant to the Note or otherwise, Interests or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party Party, pro-rata in proportion to their respective then-currently issued and outstanding Principal Amount for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security InterestInterests, whether payable pursuant to the Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Agent on behalf of the Secured Party Party, for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security InterestInterests, whether payable pursuant to the Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party Party, for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, Debtor shall, shall upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interest, whether payable pursuant to the Note Loan Agreement or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest income or other sums subject to the Security Interest, whether payable pursuant to the Note Promissory Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party for application to the satisfaction of the Obligations.

Duty To Hold In Trust. (a) Upon notice of the occurrence of any Event of Default and at any time thereafter, the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security InterestInterests, whether payable pursuant to the Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party for application to the satisfaction of the Obligations.