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

Proceeds to be Turned Over To Administrative Agent. In addition to the rights of the Secured Parties specified in Section 6.1 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, Cash Equivalents, checks and other Payment Items shall be held by such Grantor in trust for the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to Administrative Agent in the exact form received by such Grantor (duly endorsed by such Grantor to Administrative Agent, if required). All Proceeds while held by Administrative Agent (or by such Grantor 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 6.4.

Proceeds to be Turned Over To Administrative Agent. In addition to the rights of the Secured Parties Administrative Agent specified in Section 6.1 6.01 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, Cash Equivalents, checks and other Payment Items near-cash items shall be held by such Grantor in trust for the Secured PartiesAdministrative Agent, segregated from other funds of such Grantor, and shall, forthwith immediately upon receipt by such Grantor, be turned over to the Administrative Agent in the exact form received by such Grantor (duly endorsed indorsed by such Grantor to the Administrative Agent, if required). All Proceeds while received by the Administrative Agent hereunder shall be held by the Administrative Agent (or by such Grantor in trust for the Secured Parties) shall continue to be held as collateral security for all the Obligations a Collateral Account and shall not constitute payment thereof until applied as provided in Section 6.46.05.

Proceeds to be Turned Over To Administrative Agent. In addition to the rights of the Secured Parties specified in Section 6.1 with respect to payments of Receivables, if an Event of Account Control Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, Cash Equivalents, checks and other Payment Items near-cash items shall be held by such Grantor in trust for the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to the Administrative Agent in the exact form received by such Grantor (duly endorsed by such Grantor to the Administrative Agent, if required). All Proceeds while held by the Administrative Agent (or by such Grantor 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 6.46.5.