Common use of Payments Held in Trust Clause in Contracts

Payments Held in Trust. In the event that notwithstanding Sections 4.01 and 4.02, the Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees (a) to hold in trust for the Administrative Agent and the Lenders an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the Lenders; and the Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 and 4.02, the Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees (a) to hold in trust for the Administrative Agent Agents and the Lenders an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent Agents and the Lenders; and the Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 Section 6.01 and 4.02Section 6.02, the any Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the Administrative Agent and the Lenders Guaranteed Creditors an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersGuaranteed Creditors; and the each Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In Notwithstanding Section 3.1 and Section 3.2, in the event that notwithstanding Sections 4.01 and 4.02, the Guarantor should receive any funds, payments, claims or distributions which is are prohibited by such Sections, the Guarantor agrees (a) then it agrees: to hold in trust for the Administrative Agent and the other Lenders an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the Lenders; and the Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 and 4.02, the Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees agrees: (a) to hold in trust for the Administrative Agent Agents and the Lenders an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent Agents and the Lenders; and the Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 and 4.02, the any Guarantor should receive any funds, payments, claims or distributions which is are prohibited by such Sectionsother Sections of this Agreement, the Guarantor then it agrees (a) to hold in trust for the Administrative Agent and (for the Lenders benefit of Beneficiaries) an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersBeneficiaries; and the each Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 Section 6.01 and 4.02Section 6.02, the any Guarantor should receive any funds, payments, claims or distributions which is are prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the Administrative Agent and the Lenders Guaranteed Creditors an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersGuaranteed Creditors; and the each Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 4.1 and 4.024.2, the Guarantor should receive any funds, payments, claims or distributions which is are prohibited by such Sections, the Guarantor agrees (a) to hold in trust for the Administrative Agent Agents and the Lenders an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent Agents and the Lenders; and the Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 4.1 and 4.024.2, the Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees (a) to hold in trust for the Administrative Agent Agents and the Lenders Banks an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent Agents and the LendersBanks; and the Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 Section 9.01 and 4.02Section 9.02, the Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the Administrative Agent and the Lenders other Secured Parties an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersSecured Parties; and the Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that that, notwithstanding Sections Section 4.01 and Section 4.02, the any Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the Administrative Agent and the Lenders other Guaranteed Parties an amount equal to the amount of all funds, payments, claims or distributions so received, received and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersGuaranteed Parties; and the each Guarantor covenants promptly to pay the same to the Administrative Agent.. 

Payments Held in Trust. In the event that notwithstanding Sections 4.01 Section 6.01 and 4.02Section 6.02, the any Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the US Administrative Agent and the Lenders Guaranteed Creditors an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the US Administrative Agent, for the benefit of the Administrative Agent and the LendersGuaranteed Creditors; and the each Guarantor covenants promptly to pay the same to the US Administrative Agent.

Payments Held in Trust. In the event that that, notwithstanding Sections 4.01 Section 5.01 and 4.02Section 5.02, the any Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the Administrative Agent and the Lenders Guaranteed Creditors an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersGuaranteed Creditors; and the each Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that that, notwithstanding Sections Section 4.01 and Section 4.02, the Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the Administrative Agent and the Lenders other Guaranteed Creditors an amount equal to the amount of all funds, payments, claims or distributions so received, received and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersGuaranteed Creditors; and the Guarantor covenants promptly to pay the same to the Administrative Agent.

Payments Held in Trust. In the event that notwithstanding Sections 4.01 Section 6.01 and 4.02Section 6.02, the any Guarantor should receive any funds, payments, claims or distributions which is are prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the Administrative Agent and the Lenders Guaranteed Creditors an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersGuaranteed Creditors; and the each Guarantor covenants promptly to pay the same to the Administrative Agent.. Section 6.04

Payments Held in Trust. In the event that that, notwithstanding Sections SECTIONS 4.01 and 4.024.02 above, the Guarantor should receive any funds, paymentspayment, claims claim or distributions distribution which is prohibited by such Sections, the Guarantor agrees (a) to hold in trust for the Administrative Agent and the Lenders an amount equal to the amount of Loan Parties, in kind, all funds, payments, claims claims, or distributions so received, and (b) agrees that it he shall have absolutely no dominion over the amount of such funds, payments, claims claims, or distributions so received except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent Loan Parties, and the Lenders; and the Guarantor covenants promptly to pay the same to the Administrative Agent, for the benefit of the Loan Parties.

Payments Held in Trust. In the event that that, notwithstanding Sections 4.01 Section 8.01 and 4.02Section 8.02, the Guarantor should receive any funds, payments, claims or distributions which is prohibited by such Sections, the Guarantor agrees then it agrees: (a) to hold in trust for the Administrative Agent and the Lenders Guaranteed Creditors an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent and the LendersGuaranteed Creditors; and the Guarantor covenants promptly to pay the same to the Administrative Agent.