Common use of Payments Held in Trust/Turnover Clause in Contracts

Payments Held in Trust/Turnover. In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company, whether in cash, property or securities, prohibited by this Agreement shall be received by any Junior Obligee before all Senior Obligations are Paid in Full such payment or distribution shall be held in trust for the benefit of and shall be paid over to or delivered to the Noteholders, until all such Senior Obligations shall have been Paid in Full.

Payments Held in Trust/Turnover. In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Companyany Obligor, whether in cash, property or securities, prohibited by this Agreement shall be received by any Junior Obligee Creditor before all Senior Obligations are Indebtedness is Paid in Full Full, such payment or distribution shall be held in trust for the benefit of and shall be paid over to or delivered to the NoteholdersSenior Lender, until all such Senior Obligations Indebtedness shall have been Paid in Full.

Payments Held in Trust/Turnover. In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Companyany Obligor, whether in cash, property or securities, prohibited by this Agreement shall be received by any the Junior Obligee Lender before all Senior Obligations are Indebtedness is Paid in Full such payment or distribution shall be held in trust for the benefit of and shall be paid over to or delivered to the NoteholdersSenior Lenders, until all such Senior Obligations Indebtedness shall have been Paid in Full.

Payments Held in Trust/Turnover. In the event that, notwithstanding the foregoing, any payment or distribution of assets of the CompanyObligor, whether in cash, property or securities, prohibited by this Agreement shall be received by any Junior Obligee Lender before all Senior Obligations are Indebtedness is Paid in Full such payment or distribution shall be held in trust for the benefit of and shall be paid over to or delivered to the NoteholdersSenior Agent for the benefit of the Senior Lenders, until all such the Senior Obligations Indebtedness shall have been Paid in Full.