Common use of Payments on Collateral Clause in Contracts

Payments on Collateral. Without limiting the rights of the Lender under any other provision of law or this Agreement, immediately upon and following the occurrence of an Event of Default: (i) all payments received by the Debtor under or in connection with any of the Collateral shall be held by the Debtor in trust for the Lender, shall be segregated from other funds of the Debtor and shall forthwith upon receipt by the Debtor be turned over to the Lender, in the same form as received by the Debtor (duly indorsed by the Debtor to the Lender, if required to permit collection thereof by the Lender); and (ii) all such payments received by the Lender (whether from the Debtor or with respect to the Collateral) shall be applied by the Lender to the payment of Obligations and any expenses as set forth in A.7.11 of this Agreement.

Payments on Collateral. Without limiting the rights of the Lender Bank under any other provision of law or this the Security Agreement, immediately upon and following the occurrence of an Event of Default: (i) upon the written request of the Bank to do so, all payments received by the Debtor under or in connection with any of the Collateral shall be held by the Debtor in trust for the LenderBank, shall be segregated from other funds of the Debtor and shall forthwith upon receipt by the Debtor be turned over to the LenderBank, in the same form as received by the Debtor (duly indorsed by the Debtor to the LenderBank, if required to permit collection thereof by the LenderBank); and (ii) all such payments received by the Lender Bank (whether from the Debtor or with respect to otherwise) may, in the Collateral) shall sole discretion of the Bank, be applied held by the Lender Bank as collateral security for, and/or then or at any time thereafter applied in whole or in part by the Bank to the payment of of, the expenses and Obligations and any expenses as set forth in A.7.11 of this AgreementSection 5.10.

Payments on Collateral. Without limiting the rights of the Lender Bank under any other provision of law or this Agreement, immediately upon if a Default shall occur and following the occurrence of an Event of Defaultbe continuing: (i1) all payments received by the Debtor Borrower under or in connection with any of the Collateral and not subject to the Sweep Agreement shall be held by the Debtor Borrower in trust for the LenderBank, shall be segregated from other funds of the Debtor Borrower and shall forthwith upon receipt by the Debtor Borrower be turned over to the LenderBank, in the same form as received by the Debtor Borrower (duly indorsed by the Debtor Borrower to the LenderBank, if required to permit collection thereof by the LenderBank); and (ii2) all such payments received by the Lender Bank (whether from the Debtor Borrower or with respect to otherwise) may, in the Collateral) shall sole discretion of the Bank, be applied held by the Lender Bank as collateral security for, and then or at any time thereafter applied in whole or in part by the Bank to the payment of the expenses and Obligations and any expenses as set forth in A.7.11 of this Agreementsubsection (J), below.

Payments on Collateral. Without limiting the rights of the Lender Bank under any other provision of law or this Agreement, immediately upon if a Default shall occur and following the occurrence of an Event of Defaultbe continuing: (i1) all payments received by the Debtor Borrower under or in connection with any of the Collateral and not subject to the Lockbox Agreement shall be held by the Debtor Borrower in trust for the LenderBank, shall be segregated from other funds of the Debtor Borrower and shall forthwith upon receipt by the Debtor Borrower be turned over to the LenderBank, in the same form as received by the Debtor Borrower (duly indorsed by the Debtor Borrower to the LenderBank, if required to permit collection thereof by the LenderBank); and (ii2) all such payments received by the Lender Bank (whether from the Debtor Borrower or with respect to otherwise) may, in the Collateral) shall sole discretion of the Bank, be applied held by the Lender Bank as collateral security for, and then or at any time thereafter applied in whole or in part by the Bank to the payment of the expenses and Obligations and any expenses as set forth in A.7.11 of this Agreementsubsection (J), below.