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 Administrative Agent specified in Section 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, checks and other near-cash items shall be held by such Grantor in trust for the Administrative Agent, segregated from other funds of such Grantor, and shall, immediately upon receipt by such Grantor, be turned over to the Administrative Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the Administrative Agent, if required). All Proceeds received by the Administrative Agent hereunder shall be held by the Administrative Agent in a Collateral Account and shall not constitute payment thereof until applied as provided in Section 6.05.

Proceeds to be Turned Over To Administrative Agent. In addition to the rights of the Administrative Agent Secured Parties specified in Section 6.01 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 near-cash items Payment Items shall be held by such Grantor in trust for the Administrative AgentSecured Parties, segregated from other funds of such Grantor, and shall, immediately forthwith upon receipt by such Grantor, be turned over to the Administrative Agent in the exact form received by such Grantor (duly indorsed endorsed by such Grantor to the Administrative Agent, if required). All Proceeds received while held by the Administrative Agent hereunder (or by such Grantor in trust for the Secured Parties) shall continue to be held by as collateral security for all the Administrative Agent in a Collateral Account Obligations and shall not constitute payment thereof until applied as provided in Section 6.056.4.

Proceeds to be Turned Over To Administrative Agent. In addition to the rights of the Administrative Agent Secured Parties specified in Section 6.01 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 near-cash items shall be held by such Grantor in trust for the Administrative AgentSecured Parties, segregated from other funds of such Grantor, and shall, immediately forthwith upon receipt by such Grantor, be turned over to the Administrative Agent in the exact form received by such Grantor (duly indorsed endorsed by such Grantor to the Administrative Agent, if required). All Proceeds received by the Administrative Agent hereunder shall be while held by the Administrative Agent (or by such Grantor in a Collateral Account 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 6.056.5.

Proceeds to be Turned Over To Administrative Agent. In addition to the rights of the Administrative Agent and Lenders specified in Section 6.01 6.1 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Proceeds of Collateral received by any Grantor consisting of cash, checks and other near-cash equivalent items shall be held by such Grantor in trust for the Administrative AgentAgent and Lenders, segregated from other funds of such Grantor, and shall, immediately at the written request of Administrative Agent, forthwith upon receipt by such Grantor, be turned over to the Administrative Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the Administrative Agent, if required). All Proceeds received by the Administrative Agent hereunder shall be held by applied to the Administrative Agent in a Collateral Account and shall not constitute payment thereof until applied Secured Obligations as provided in Section 6.056.5.