Common use of Payment of Collateral Agent's Fees Clause in Contracts

Payment of Collateral Agent's Fees. In the event the Grantors do not pay the Collateral Agent's Fees, the Collateral Agent shall have the right, but not the obligation, to withdraw the Collateral Agent's Fees from the Collateral Account. In addition, in the event the Grantors do not pay the Collateral Agent's Fees, each Secured Party (other than the Collateral Agent) by its acceptance of the benefits of this Collateral Agent Agreement and any other Security Document and the Collateral shall be deemed to have agreed that any Proceeds of Collateral to which it shall be entitled shall be available to pay the Collateral Agent's Fees ratably in accordance with the proportion of the Obligations held by such Secured Party or, if there has been any recovery of the Obligations, in accordance with the proportion of (i) the Obligations recovered by such Secured Party to (ii) the aggregate amount of Obligations recovered by all Secured Parties.

Payment of Collateral Agent's Fees. In the event the Grantors do not pay the Collateral Agent's Fees, the Collateral Agent shall have the right, but not the obligation, to withdraw the Collateral Agent's Fees from the Cash Collateral Account. In addition, in the event the Grantors do not pay the Collateral Agent's Fees, each Secured Party Beneficiary (other than the Collateral Agent) by its acceptance of the benefits of this Collateral Agent Agreement and any other Security Document Documents and the Collateral shall be deemed to have agreed that any Proceeds of Collateral to which it shall be entitled shall be available to pay the Collateral Agent's Fees ratably in accordance with the proportion of the Obligations Secured Debt held by such Secured Party Beneficiary or, if there has been any recovery of the ObligationsSecured Debt, in accordance with the proportion of (ia) the Obligations Secured Debt recovered by such Secured Party Beneficiary to (iib) the aggregate amount of Obligations Secured Debt recovered by all Secured PartiesBeneficiaries.