Common use of Monies Held in Trust Clause in Contracts

Monies Held in Trust. In fortherance of the Collection Privilege, Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees, or agents, acting as trustee for Lender, shall (i) hold in trust for Lender, as property of Le11der, 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 Lender in the manner set forth in Section 3.8.2.3, as Lender shall so direct. h1 the event the Collection Privilege is inapplicable, but Borrower or related parties nonetheless receive such remittances despite a contrary agreement with Lender, all of the foregoing terms and conditions shall apply and Borrower shall remit same, in kind, to Lender, as 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 Lender’s Account. In no event shall such remittances be commingled with Borrower’s own funds. Borrower shall continue to remit such remittances to lender until such time as Borrower’s Obligations (other than contingent obligations) have been paid in full.

Monies Held in Trust. In fortherance furtherance of the Collection Privilege, Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees, or agents, acting as trustee for Lender, shall (i) hold in trust for Lender, as property of Le11derLender, 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 Lender in the manner set forth in Section 3.8.2.3, as Lender shall so direct. h1 In the event the Collection Privilege is inapplicable, but Borrower or related parties nonetheless receive such remittances despite a contrary agreement with Lender, all of the foregoing terms and conditions shall apply and Borrower shall remit same, in kind, to Lender, as 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 Lender’s ’ Account. In no event shall such remittances be commingled with Borrower’s own funds. Borrower shall continue to remit such remittances to lender Lender until such time as Borrower’s Obligations (other than contingent obligations) have been paid in full.

Monies Held in Trust. In fortherance furtherance of the Collection Privilege, Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees, or agents, acting as trustee for Lender, shall (i) hold in trust for Lender, as property of Le11derLender, 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 Lender in the manner set forth in Section 3.8.2.3, as Lender shall so direct. h1 In the event the Collection Privilege is inapplicable, but Borrower or related parties nonetheless receive such remittances despite a contrary agreement with Lender, all of the foregoing terms and conditions shall apply and Borrower shall remit same, in kind, to Lender, as 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 Lender’s Account. In no event shall such remittances be commingled with Borrower’s own funds. Borrower shall continue to remit such remittances to lender until such time as Borrower’s Obligations (other than contingent obligations) have been paid in full.

Monies Held in Trust. In fortherance furtherance of the Collection Privilege, Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees, or agents, acting as trustee for LenderLenders, shall (i) hold in trust for LenderLenders, as property of Le11derLenders, 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 Lender Lenders in the manner set forth in Section 3.8.2.3, as Lender Lenders shall so direct. h1 In the event the Collection Privilege is inapplicable, but Borrower or related parties nonetheless receive such remittances despite a contrary agreement with LenderLenders, all of the foregoing terms and conditions shall apply and Borrower shall remit same, in kind, to LenderLenders, as Lender Lenders 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 Lender’s Lenders’ Account. In no event shall such remittances be commingled with Borrower’s own funds. Borrower shall continue to remit such remittances to lender Lenders until such time as Borrower’s Obligations (other than contingent obligations) have been paid in full.