Common use of Non-Payment to the Administrative Agent Clause in Contracts

Non-Payment to the Administrative Agent. If the Borrower shall receive payment directly from any party to an Assigned Agreement (including any letter of credit issued for the benefit of the Borrower in accordance with the terms thereof) or from any account debtor or other obligor under any Receivable, General Intangible or any other payments under such Assigned Agreements, Receivables and General Intangibles, the Borrower shall receive such payments in a constructive trust for the benefit of the Lenders, shall segregate such payments from such party's other funds, and shall promptly transmit and deliver such payments to the Administrative Agent in the same form as so received (with any necessary endorsement).

Non-Payment to the Administrative Agent. If the Borrower Grantor shall receive payment directly from any party to an Assigned Agreement (including any letter of credit issued for the benefit of the Borrower Grantor in accordance with the terms thereof) or from any account debtor or other obligor under any Receivable, General Intangible or any other payments under such Assigned Agreements, Receivables and General Intangibles, the Borrower Grantor shall receive such payments in a constructive trust for the benefit of the Lenders, shall segregate such payments from such party's other funds, and shall promptly forthwith transmit and deliver such payments to the Administrative Agent in the same form as so received (with any necessary endorsement).

Non-Payment to the Administrative Agent. If the Borrower shall receive payment directly from any party to an Assigned Agreement (including any letter of credit issued for the benefit of the Borrower in accordance with the terms thereof) or from any account debtor or other obligor under any Receivable, General Intangible or any other payments under such Assigned Agreements, Receivables and General Intangibles, the Borrower shall receive such payments in a constructive trust for the benefit of the Lenders, shall segregate such payments from such party's other funds, and shall promptly forthwith transmit and deliver such payments to the Administrative Agent in the same form as so received (with any necessary endorsement).

Non-Payment to the Administrative Agent. If the Borrower Grantor shall receive payment directly from any party to an Assigned Agreement (including any letter of credit issued for the benefit of the Borrower Grantor in accordance with the terms thereof) or from any account debtor or other obligor under any Receivable, General Intangible or any other payments under such Assigned Agreements, Receivables and General Intangibles, the Borrower Grantor shall receive such payments in a constructive trust for the benefit of the Lenders, shall segregate such payments from such party's other funds, and shall promptly transmit and deliver such payments to the Administrative Agent in the same form as so received (with any necessary endorsement).