Payments Held in Trust/Turnover. In the event that any Subordinated Claimholder receives any Distribution prohibited by this Agreement, such Distribution shall be held in trust for the benefit of and shall be paid over to or delivered to (as applicable) the Senior Agents, for the benefit of the Senior Claimholders.
Appears in 2 contracts
Samples: Senior Term Loan Credit Agreement (Bumble Bee Capital Corp.), Senior Revolving Credit Agreement (Bumble Bee Capital Corp.)
Payments Held in Trust/Turnover. In the event that any Subordinated Claimholder receives any Distribution prohibited at such time by this Agreement, such Distribution shall be held in trust for the benefit of and shall be paid over to or delivered to (as applicable) the Senior AgentsAgent, for the benefit of the Senior Claimholders.
Appears in 1 contract
Samples: Intercreditor and Subordination Agreement (Global Telecom & Technology, Inc.)
Payments Held in Trust/Turnover. In the event that any Subordinated Claimholder receives any Distribution prohibited at such time by this Agreement, such Distribution shall be held in trust for the benefit of and shall be paid over to or delivered to (to, as applicable) , the Senior AgentsAgent, for the benefit of the Senior Claimholders.
Appears in 1 contract
Samples: Intercreditor and Subordination Agreement (Layne Christensen Co)
Payments Held in Trust/Turnover. In the event that any Subordinated Claimholder receives any Distribution prohibited by this Agreement, such Distribution shall be held in trust for the benefit of and shall be paid over to or delivered to (as applicable) the Senior Agents, for the benefit of the Senior ClaimholdersAgent.
Appears in 1 contract
Samples: Subordination and Intercreditor Agreement (Nuverra Environmental Solutions, Inc.)
