Proceeds in Trust Sample Clauses
The "Proceeds in Trust" clause establishes that any funds or assets received as a result of a transaction or on behalf of another party must be held in trust, rather than being treated as the recipient's own property. In practice, this means that if a party receives payment, insurance proceeds, or other assets intended for another party, those proceeds must be kept separate from the recipient’s own funds and managed according to the terms of the trust. This clause ensures that the rightful owner’s interests are protected and that the proceeds are not misused or claimed by creditors of the recipient, thereby safeguarding the assets until they are properly distributed.
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Proceeds in Trust. The Debtor shall hold all proceeds in trust, separate and apart from other money, instruments or property, for the benefit of the Secured Party until all amounts owing by the Debtor to the Secured Party have been paid in full.
Proceeds in Trust. The Borrower shall and shall be deemed to hold all Proceeds in trust, separate and apart from other money, instruments or property, for the benefit of the Lender until all amounts owing by the Borrower to the Lender have been paid in full;
Proceeds in Trust. Pending compliance with Clauses 1, 2 and 3 above, to hold the loan proceeds in trust for the Lender.
Proceeds in Trust. All Proceeds from the sale or other disposition of the Collateral hereunder realized by the Secured Party or any agent on the Debtor's behalf shall be held in trust by the Debtor for the Secured Party.
Proceeds in Trust. The net proceeds of the Offering and a sufficient portion of the proceeds of the sale of the Private Units, shall be deposited into the Trust Account, such that the amount in trust equals $10.00 per Firm Unit sold in the Offering. If the Over-Allotment Option is exercised, all the proceeds of such exercise shall be deposited into the Trust Account, such that the amount in trust equals $10.00 per Public Share sold in the Offering. There will be no underwriting fees or commissions due with respect to the issuance of the Private Placement Units.
Proceeds in Trust. Any Proceeds collected by the Company after notice of termination of this Agreement has been delivered in accordance with Section 2.2 shall be deemed to be held in trust for the benefit of UpGyres without deduction for costs or expenses of any nature. The Company shall forward to UpGyres any Proceeds collected after the date of termination within ten (10) days of the termination of this Agreement.
Proceeds in Trust. All proceeds received by the Trustee in consequence of the proceedings described in Section 9 above or in any other way under this Deed, shall be held by the Trustee in trust and shall be used by the Trustee toward the following purposes, according to the following descending order: The Trustee shall first repay or retain such amount as to cover the expenses, payments, levies and obligations it has incurred or that were imposed on it or that were ancillary to or arose from the performance of the trust or from any other matter in connection with the terms of this Deed, including the Trustee’s fees; second, the Trustee will use the remainder to pay the Holders the late interest owing to them under the terms of the Debentures and in accordance with the indexation terms thereof, pari passu and ratably to the amount of interest in arrears owing to each, without any priority among Holders; third, the Trustee shall use the remainder to pay the Holders such amounts of the principal owing to them in accordance with their Debentures, pari passu and in accordance with the indexation terms of the Debentures, regardless of whether the time fixed for payment of the principal has arrived, and ratably to the amounts owing to them, without any priority in connection with the date on which each Debenture was issued or in connection with any other matter; any remainder shall be paid to the Company or any person that may come in its place.
Proceeds in Trust. The Grantor shall and shall be deemed to hold all Proceeds as mandatary for the Lender, separate and apart from other money, instruments or property, for the benefit of the Lender until all amounts owing by the Grantor to the Lender have been paid in full;