Common use of Payment Over to the Agent Clause in Contracts

Payment Over to the Agent. In the event that, notwithstanding the provisions of Sections 3, 4, and 5, any Subordinated Debt Payments shall be received in contravention of such Sections 3, 4, and 5 by any Obligor before all Senior Debt is Paid in Full, such Subordinated Debt Payments shall be held in trust for the benefit of the Agent and shall promptly be paid over or delivered to the Agent for application to the Payment in Full of all Senior Debt, to the extent necessary to give effect to such Sections 3, 4, and 5.

Payment Over to the Agent. In the event that, notwithstanding the provisions of Sections 3, 4, and 5, any Subordinated Debt Payments shall be received in contravention of such Sections Section 3, 4, and or 5 by any Obligor Subordinated Creditor before all Senior Debt is Paid paid, in Fullfull, in cash or cash equivalents, such Subordinated Debt Payments shall be held in trust for the benefit of the Agent and the Lenders and shall promptly be paid over or delivered to the Agent for application to the Payment payment, in Full full, in cash or cash equivalents of all Senior Debt, Debt remaining unpaid to the extent necessary to give effect to such Sections 3, 4, and 5, after giving effect to any concurrent payments or distributions to Agent in respect of the Senior Debt.

Payment Over to the Agent. In the event that, notwithstanding the provisions of Sections 3, 4, and 55 hereof, any Subordinated Debt Payments shall be received in contravention of such Sections 3, 4, and 5 by any Obligor before all Senior Debt is Paid paid, in Fullfull, in cash or cash equivalents, such Subordinated Debt Payments shall be held in trust for the benefit of the Agent and shall promptly be paid over or delivered to the Agent for application to the Payment payment, in Full full, in cash or cash equivalents of all Senior Debt, Debt remaining unpaid to the extent necessary to give effect to such Sections 3, 4, and 5, after giving effect to any concurrent payments or distributions to Agent in respect of the Senior Debt.

Payment Over to the Agent. In the event that, notwithstanding the provisions of Sections 3, 4, and 5, any Subordinated Debt Payments shall be received in contravention of such Sections 3, 4, and 5 by any Obligor before all Senior Debt is Paid paid, in Fullfull, in cash or cash equivalents, such Subordinated Debt Payments shall be held in trust for the benefit of the Agent and shall promptly be paid over or delivered to the Agent for application to the Payment payment, in Full full, in cash or cash equivalents of all Senior Debt, Debt remaining unpaid to the extent necessary to give effect to such Sections 3, 4, and 5, after giving effect to any concurrent payments or distributions to the Agent in respect of the Senior Debt.