Payments Held in Trust. During the continuance of an Event of Default, all payments received by any Grantor under or in connection with any Collateral shall be received in trust for the benefit of the Administrative Agent, and shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent in the same form as received (with any necessary endorsement).
Appears in 10 contracts
Samples: Credit Agreement (Berry Petroleum Corp), Security Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp)
Payments Held in Trust. During the continuance of an Event of Default, all payments received by any Grantor under or in connection with any Collateral shall be received in trust for the benefit of the Administrative Agent, and if instructed by the Administrative Agent in writing, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent in the same form as received (with any necessary endorsement).
Appears in 3 contracts
Samples: Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.)
Payments Held in Trust. During the continuance of an Event of Default, all payments received by any Grantor under or in connection with any Collateral shall be received in trust for the benefit of the Administrative AgentCollateral Trustee, and shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent Collateral Trustee in the same form as received (with any necessary endorsement).
Appears in 3 contracts
Samples: Subordinated Credit Agreement (Cano Petroleum, Inc), Security Agreement (Cano Petroleum, Inc), Credit Agreement (Cano Petroleum, Inc)
Payments Held in Trust. During Upon the occurrence and during the continuance of an Event of Default, all payments received by any Grantor under or in connection with any Collateral shall be received in trust for the benefit of the Administrative Agent, and shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent in the same form as received (with any necessary endorsement).
Appears in 2 contracts
Samples: Security Agreement (CorEnergy Infrastructure Trust, Inc.), Security Agreement (CorEnergy Infrastructure Trust, Inc.)
Payments Held in Trust. During the continuance of an Event of Default, subject to the terms of the Intercreditor Agreement, all payments received by any Grantor under or in connection with any Collateral shall be received in trust for the benefit of the Administrative Agent, and shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent in the same form as received (with any necessary endorsement).
Appears in 2 contracts
Samples: Credit Agreement (MxEnergy Holdings Inc), Security Agreement (Total Gas & Electricity (PA) Inc)
Payments Held in Trust. During the continuance of an Event of Default, all payments received by any Grantor under or in connection with any Collateral shall be received in trust for the benefit of the Administrative Agent, for the ratable benefit of the Secured Parties, and shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent Agent, for the ratable benefit of the Secured Parties, in the same form as received (with any necessary endorsement).
Appears in 1 contract
Samples: Revolving Credit Agreement (Seahawk Drilling, Inc.)
