No Commingling of Funds. If at any time during a Loan Default or Loan Event of Default Lessor should receive any amounts payable by Lessee under the Lease Agreement or by Guarantor under the Participation Agreement other than Excepted Payments, or any other proceeds for or with respect to Lessor Collateral, it will hold such amounts in trust for Collateral Agent and not commingle such amounts with any other amounts belonging to or held by Borrower, advise Collateral Agent of such receipt and promptly forward such amounts directly to Collateral Agent.
Appears in 3 contracts
Samples: Participation Agreement (Universal Compression Inc), Participation Agreement (Universal Compression Holdings Inc), Participation Agreement (BRL Universal Equipment Corp)
No Commingling of Funds. If at any time during a Loan Default or Loan Event of Default Lessor Borrower should receive any amounts payable by Lessee under the Lease Agreement Agreement, or by Guarantor under the Participation Agreement other than Excepted PaymentsAgreement, or any other proceeds for or with respect to Lessor Collateral, it will hold such amounts in trust for the Collateral Agent and not commingle such amounts with any other amounts belonging to or held by Borrower, advise the Collateral Agent of such receipt and promptly forward such amounts directly to the Collateral Agent.
Appears in 2 contracts
Samples: Loan Agreement (Universal Compression Inc), Loan Agreement (Universal Compression Holdings Inc)
No Commingling of Funds. If at any time during a Loan -------------------------- Default or Loan Event of Default Lessor should receive any amounts payable by Lessee under the Lease Agreement or by Guarantor under the Participation Agreement other than Excepted Payments, or any other proceeds for or with respect to Lessor Collateral, it will hold such amounts in trust for Collateral Agent and not commingle such amounts with any other amounts belonging to or held by Borrower, advise Collateral Agent of such receipt and promptly forward such amounts directly to Collateral Agent.
Appears in 1 contract
Samples: Participation Agreement (BRL Universal Equipment Corp)