Common use of Monies Held in Trust Clause in Contracts

Monies Held in Trust. In furtherance of the Collection Privilege, Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees, or agents, acting as trustee for Lenders, shall (i) hold in trust for Lenders, as property of Lenders, any remittances and other collections and proceeds of Account and other Collateral which come into Borrower’s possession or control, and (ii) immediately upon receipt thereof, and in their original form as received, remit same, in kind, to Lenders in the manner set forth in Section 3.8.2.3, as Lenders shall so direct. In the event the Collection Privilege is inapplicable, but Borrower or related parties nonetheless receive such remittances despite a contrary agreement with Lenders, all of the foregoing terms and conditions shall apply and Borrower shall remit same, in kind, to Lenders, as Lenders shall so direct, either by overnight delivery, deposit to the Blocked Account or in the case of electronic payment, by remittance to Lenders’ Account. In no event shall such remittances be commingled with Borrower’s own funds. Borrower shall continue to remit such remittances to Lenders until such time as Borrower’s Obligations (other than contingent obligations) have been paid in full.

Monies Held in Trust. In furtherance of the Collection Privilege, Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees, or agents, acting as trustee for LendersLender, shall (i) hold in trust for LendersLender, as property of LendersLender, any remittances and other collections and proceeds of Account and other Collateral which come into Borrower’s possession or control, and (ii) immediately upon receipt thereof, and in their original form as received, remit same, in kind, to Lenders Lender in the manner set forth in Section 3.8.2.3, as Lenders Lender shall so direct. In the event the Collection Privilege is inapplicable, but Borrower or related parties nonetheless receive such remittances despite a contrary agreement with LendersLender, all of the foregoing terms and conditions shall apply and Borrower shall remit same, in kind, to LendersLender, as Lenders Lender shall so direct, either by overnight delivery, deposit to the Blocked Account or in the case of electronic payment, by remittance to LendersLender’ Account. In no event shall such remittances be commingled with Borrower’s own funds. Borrower shall continue to remit such remittances to Lenders Lender until such time as Borrower’s Obligations (other than contingent obligations) have been paid in full.

Monies Held in Trust. In furtherance fortherance of the Collection Privilege, Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees, or agents, acting as trustee for LendersLender, shall (i) hold in trust for LendersLender, as property of LendersLe11der, any remittances and other collections and proceeds of Account and other Collateral which come into Borrower’s possession or control, and (ii) immediately upon receipt thereof, and in their original form as received, remit same, in kind, to Lenders Lender in the manner set forth in Section 3.8.2.3, as Lenders Lender shall so direct. In h1 the event the Collection Privilege is inapplicable, but Borrower or related parties nonetheless receive such remittances despite a contrary agreement with LendersLender, all of the foregoing terms and conditions shall apply and Borrower shall remit same, in kind, to LendersLender, as Lenders Lender shall so direct, either by overnight delivery, deposit to the Blocked Account or the Lockbox Account, as applicable, or in the case of electronic payment, by remittance to Lenders’ Lender’s Account. In no event shall such remittances be commingled with Borrower’s own funds. Borrower shall continue to remit such remittances to Lenders lender until such time as Borrower’s Obligations (other than contingent obligations) have been paid in full.

Monies Held in Trust. In furtherance of the Collection Privilege, Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees, or agents, acting as trustee for LendersLender, shall (i) hold in trust for LendersLender, as property of LendersLender, any remittances and other collections and proceeds of Account and other Collateral which come into Borrower’s possession or control, and (ii) immediately upon receipt thereof, and in their original form as received, remit same, in kind, to Lenders Lender in the manner set forth in Section 3.8.2.3, as Lenders Lender shall so direct. In the event the Collection Privilege is inapplicable, but Borrower or related parties nonetheless receive such remittances despite a contrary agreement with LendersLender, all of the foregoing terms and conditions shall apply and Borrower shall remit same, in kind, to LendersLender, as Lenders Lender shall so direct, either by overnight delivery, deposit to the Blocked Account or the Lockbox Account, as applicable, or in the case of electronic payment, by remittance to Lenders’ Lender’s Account. In no event shall such remittances be commingled with Borrower’s own funds. Borrower shall continue to remit such remittances to Lenders lender until such time as Borrower’s Obligations (other than contingent obligations) have been paid in full.