Common use of Proceeds to be Turned Over To Administrative Agent Clause in Contracts

Proceeds to be Turned Over To Administrative Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Pledgor consisting of cash, checks and Instruments shall be held by such Pledgor in trust for the Administrative Agent for the benefit of the Secured Parties, segregated from other funds of such Pledgor, and shall, forthwith upon receipt by such Pledgor, be turned over to the Administrative Agent in the exact form received by such Pledgor (duly indorsed by such Pledgor to the Administrative Agent for the benefit of the Secured Parties, if required). All Proceeds received by the Administrative Agent hereunder shall be held by the Administrative Agent in a Collateral Account maintained under its sole dominion and control and which, to the extent reasonably practicable, bears interest. All Proceeds while held by the Administrative Agent in a Collateral Account shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 6.3.

Proceeds to be Turned Over To Administrative Agent. If In addition to the rights of the Administrative Agent and the Lenders specified in subsection with respect to payments of Receivables, if an Event of Default shall occur and be continuing, continuing all Proceeds received by any Pledgor consisting of cash, checks and Instruments other near-cash items shall be held by such Pledgor in trust for the Administrative Agent for the benefit of and the Secured Parties, segregated from other funds of such Pledgor, and shall, forthwith upon receipt by such Pledgor, be turned over to the Administrative Agent in the exact form received by such Pledgor (duly indorsed by such Pledgor to the Administrative Agent for the benefit of the Secured PartiesAgent, if required). All Proceeds received by the Administrative Agent hereunder shall be ) and held by the Administrative Agent in a Collateral Account maintained under its the sole dominion and control and which, to of the extent reasonably practicable, bears interestAdministrative Agent. All Proceeds while held by the Administrative Agent in a Collateral Account (or by such Pledgor in trust for the Administrative Agent and the Secured Parties) shall continue to be held as collateral security for all the Secured Obligations and shall not constitute payment thereof until applied as provided in Section 6.3.subsection 8.C.

Proceeds to be Turned Over To Administrative Agent. If an Event of Default shall occur and be continuingcontinuing and the Administrative Agent has provided prior written notice to each Pledgor, all Proceeds received by any such Pledgor consisting of cash, Cash Equivalents, checks and Instruments other near-cash items shall be held by such Pledgor in trust for the Administrative Agent for the benefit of the Secured Parties, segregated from other funds of such Pledgor, and shall, forthwith upon receipt by such Pledgor, be turned over to the Administrative Agent in the exact form received by such Pledgor (duly indorsed endorsed by such Pledgor to the Administrative Agent for the benefit of the Secured PartiesAgent, if required). All Subject to the terms of the Intercreditor Agreement, (a) all Proceeds received by the Administrative Agent hereunder shall be held by the Administrative Agent in a Collateral Account maintained under its sole dominion and control and which, to the extent reasonably practicable, bears interest. All (b) all Proceeds while held by the Administrative Agent in a Collateral Account (or by such Pledgor in trust for the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 6.35.2.

Proceeds to be Turned Over To Administrative Agent. If an Event of Default shall occur and be continuingcontinuing and the Administrative Agent has provided prior written notice to each Pledgor, all Proceeds received by any such Pledgor consisting of cash, Cash Equivalents, checks and Instruments other near-cash items shall be held by such Pledgor in trust for the Administrative Agent for the benefit of the Secured Parties, segregated from other funds of such Pledgor, and shall, forthwith upon receipt by such Pledgor, be turned over to the Administrative Agent in the exact form received by such Pledgor (duly indorsed endorsed by such Pledgor to the Administrative Agent for the benefit of the Secured PartiesAgent, if required). All Subject to Section 14.17 hereof, (a) all Proceeds received by the Administrative Agent hereunder shall be held by the Administrative Agent in a Collateral Account maintained under its sole dominion and control and which, to the extent reasonably practicable, bears interest. All (b) all Proceeds while held by the Administrative Agent in a Collateral Account (or by such Pledgor in trust for the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 6.311.2.

Proceeds to be Turned Over To Administrative Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Pledgor consisting of cash, checks and Instruments other near-cash items shall be held by such Pledgor in trust for the Administrative Agent for and the benefit of the Secured PartiesLenders, segregated from other funds of such Pledgor, and shall, forthwith upon receipt by such Pledgor, be turned over to the Administrative Agent in the exact form received by such Pledgor (duly indorsed by such Pledgor to the Administrative Agent for the benefit of the Secured PartiesAgent, if required). All Proceeds received by the Administrative Agent hereunder shall be held by the Administrative Agent in a Collateral Account maintained under its sole dominion and control and which, to the extent reasonably practicable, bears interestcontrol. All Proceeds while held by the Administrative Agent in a Collateral Account (or by such Pledgor in trust for the Administrative Agent and the Lenders) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 6.37.3.