EARNINGS ON COLLATERAL Sample Clauses
The "Earnings on Collateral" clause defines how any interest or income generated from collateral posted under an agreement is handled. Typically, this clause specifies whether the party posting collateral is entitled to receive the earnings, or if the party holding the collateral retains them, and may outline the method and timing of such payments. By clarifying the allocation of earnings, this clause helps prevent disputes over the benefits derived from collateral and ensures both parties understand their rights regarding any income produced while the collateral is held.
EARNINGS ON COLLATERAL. All payments and distributions, whether in cash or in kind, made on or with respect to the Collateral shall, so long as an Event of Default as defined in Section 11 hereof shall not have occurred and be continuing, be paid to Assignor directly by the applicable paying agent by wire transfer in immediately available funds pursuant to wiring instructions delivered in writing by Assignor to MLMCI, and upon receipt by Assignor such payments and distributions shall be released from the lien and security interest granted to MLMCI hereunder. Subject to compliance with the MBS Issuance Agreements, MLMCI may, in its sole discretion after the occurrence and during the continuation of an Event of Default, cause all such payments and distributions to be paid, delivered or transferred directly to MLMCI.
EARNINGS ON COLLATERAL. In the event that the Collateral is registered in the name of MLMCI or any affiliate or designee thereof or MLMCI or its affiliate or designee is entitled to receive payments and distributions on the Collateral, all payments and distributions, whether in cash or in kind, made on or with respect to the Collateral will, unless otherwise agreed by MLMCI, be paid, delivered or transferred directly to MLMCI (or such affiliate or designee) and, within one (1) business day of receipt thereof, will, so long as an Event of Default as defined in Section 10 hereof shall not have occurred and be continuing, be paid to Assignor by wire transfer in immediately available funds. Following the occurrence and during the continuation of an Event of Default, if Assignor shall receive any payment or distribution on or with respect to the Collateral, it shall hold such payment or distribution in trust for the benefit of MLMCI. In the event that the Collateral is registered in the name of Assignor or Assignor is entitled to receive payments and distributions on the Collateral, all payments and distributions, whether in cash or in kind, made on or with respect to the Collateral shall, so long as an Event of Default shall not have occurred and be continuing, be paid to Assignor directly by the applicable paying agent. MLMCI may, in its sole discretion after the occurrence and during the continuation of an Event of Default, cause all such payments and distributions to be paid, delivered or transferred directly to MLMCI, to be applied by MLMCI to the then outstanding Obligations.
EARNINGS ON COLLATERAL. All payments and distributions, whether in cash or in kind, made on or with respect to the Collateral shall, so long as an Event of Default as defined in Section 11 hereof shall not have occurred and be continuing, be paid to the registered holder thereof directly by the applicable paying agent, and upon receipt by such holder such payments and distributions shall be released from the lien and security interest granted to SBRC hereunder. Subject to compliance with the ABS Issuance Agreements, SBRC may, in its sole discretion after the occurrence and during the continuation of an Event of Default, cause all such payments and distributions to be paid, delivered or transferred directly to SBRC.
EARNINGS ON COLLATERAL. With respect to each Secured Note, so long as an Event of Default shall not have occurred, the aggregate interest collected on all of the Loans constituting related Collateral that relates to the prior Remittance Period as of the related Determination Date may, to the extent not required to pay interest on such Secured Note that accrued during the related Interest Period or to discharge any other Obligation (including the payment of interest on any other Secured Note), be paid by the Facility Administrator to the Company or as otherwise provided in the Facility Administration Agreement, and if by being so paid it is distributed in any manner other than to the Note Purchaser or any person acting on behalf of the Note Purchaser (e.g., the Facility Administrator), then the distributions shall be released from the Lien granted to the Facility Administrator by the Facility Administration Agreement. The Note Purchaser may, in its sole discretion after the occurrence and during the continuation of an Event of Default, direct the Facility Administrator to remit all amounts that would otherwise be available for distribution to the Company or its designee (including any Certificateholder under the Trust Agreement) with respect to the Collateral to be transferred directly to the Note Purchaser.
EARNINGS ON COLLATERAL. All payments and distributions, whether in cash or in kind, made on or with respect to the Collateral shall, so long as an Event of Default as defined in Section 9 hereof shall not have occurred and be continuing, be paid to Assignor directly by the applicable paying agent by wire transfer in immediately available funds pursuant to wiring instructions delivered in writing by Assignor to ▇▇▇▇▇▇. ▇▇▇▇▇▇ may, in its sole discretion after the occurrence and during the continuation of an Event of Default, cause all such payments and distributions to be paid, delivered or transferred directly to ▇▇▇▇▇▇.