Common use of Payments by Collateral Agent Clause in Contracts

Payments by Collateral Agent. All payments hereunder by Collateral Agent to First Lien Agent, for the benefit of First Lien Lenders, and Second Lien Agent, for the benefit of Second Lien Lenders, shall be for distribution in the manner set forth in the First Lien Agreement or Second Lien Agreement, respectively. In the event any other payment is due to a group of Secured Parties under a Principal Agreement to which they are a party, Collateral Agent shall make such payment to their representative for distribution by it in accordance with the terms of such Principal Agreement.