Incorrect Distribution. If any Secured Party receives any Proceeds of Collateral or any other Trust Monies or Prepayment Monies in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess amount in trust for the benefit of the Collateral Trustee until paid over to the Collateral Trustee and (b) shall promptly pay such excess amount to the Collateral Trustee. The Collateral Trustee shall promptly distribute the amount so received in accordance with the terms of Section 3.4.
Appears in 2 contracts
Samples: Collateral Trust and Intercreditor Agreement (American Capital, LTD), Collateral Trust and Intercreditor Agreement (American Capital, LTD)
Incorrect Distribution. If any Secured Party receives any Proceeds of Collateral or any other Trust Monies or Prepayment Monies in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess amount in trust for the benefit of the Collateral Trustee until paid over to the Collateral Trustee and (b) shall promptly pay such excess amount to the Collateral Trustee. The Collateral Trustee shall promptly distribute the amount so received in accordance with the terms of Section 3.4.
Appears in 1 contract
Incorrect Distribution. If any Secured Party receives any Proceeds of Collateral or any other Trust Monies or Prepayment Monies in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess amount Proceeds in trust for the benefit of the Collateral Trustee Agent until paid over to the Collateral Trustee Agent and (b) shall promptly pay such the excess amount of such Proceeds to the Collateral TrusteeAgent. The Collateral Trustee Agent shall promptly distribute the amount so received in accordance with the terms of Section 3.42.02.
Appears in 1 contract
Samples: Intercreditor and Collateral Agency Agreement (Smithfield Foods Inc)
Incorrect Distribution. If any Secured Party receives any Proceeds of Collateral or any other Trust Monies or Prepayment Monies Collections in an amount in excess of the amount such Person is entitled to receive under the terms hereof, such Person shall (a) hold such excess amount in trust for the benefit of the Collateral Trustee Agent until paid over to the Collateral Trustee Agent and (b) shall promptly pay such excess amount to the Collateral TrusteeAgent. The Collateral Trustee Agent shall promptly distribute the amount so received in accordance with the terms of Section 3.43.5.
Appears in 1 contract
Samples: Collateral Agency and Intercreditor Agreement (American Capital, LTD)
