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

Proceeds to be Turned Over To Agent. In addition to the rights of the Agent and the Lenders specified in Section with respect to payments of Accounts, if an Event of Default shall occur and be continuing, the Agent may require, by notice to the Borrower that all Proceeds received by the Borrower consisting of cash, checks and other near-cash items be held by the Borrower in trust for the Agent and the Lenders, segregated from other funds of the Borrower, and forthwith upon receipt by the Borrower, be turned over to the Agent in the exact form received by the Borrower (duly indorsed by the Borrower to the Agent, if required) and held by the Agent in a Collateral Account maintained under the sole dominion and control of the Agent. All Proceeds while held by the Agent in a Collateral Account (or by the Borrower in trust for the 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 8(c).

Proceeds to be Turned Over To Agent. In addition to the rights of the Agent and the Lenders specified in Section subsection 5.3 with respect to payments of AccountsReceivables, if an Event of Default shall occur and be continuing, upon written notice from the Agent may requireAgent, by notice to the Borrower that all Proceeds received by the Borrower consisting of cash, checks and other near-cash items shall be held by the Borrower in trust for the Agent and the Lenders, segregated from other funds of the Borrower, and shall, forthwith upon receipt by the Borrower, be turned over to the Agent in the exact form received by the Borrower (duly indorsed by the Borrower to the Agent, if required) and held by the Agent in a Collateral Account maintained under the sole dominion and control of the Agent. All Proceeds while held by the Agent in a Collateral Account (or by the Borrower in trust for the 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 8(c)subsection 9.3.

Proceeds to be Turned Over To Agent. In addition to the rights of the Agent and the Lenders specified in Section subsection 5.3 with respect to payments of AccountsReceivables, if an Event of Default shall occur and be continuing, upon written notice from the Agent may requireAgent, by notice to the Borrower that all Proceeds received by the Borrower consisting of cash, checks and other near-cash items shall be held by the Borrower in trust for the Agent and the Lenders, segregated from other funds of the Borrower, and shall, forthwith upon receipt by the Borrower, be turned over to the Agent in the exact form received by the Borrower (duly indorsed by the Borrower to the Agent, if required) and held by the Agent in a Collateral Account maintained under the sole dominion and control of the Agent. All Proceeds while held by the Agent in a Collateral Account (or by the Borrower in trust for the 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 8(c).subsection 9.3. 150

Proceeds to be Turned Over To Agent. In addition to the rights of the Agent and the Lenders specified in Section 3 with respect to payments of Accounts, if an Event of Default shall occur and be continuing, the Agent may require, by notice to the Borrower Grantor that all Proceeds received by the Borrower Grantor consisting of cash, checks and other near-cash items be held by the Borrower Grantor in trust for the Agent and the Lenders, segregated from other funds of the BorrowerGrantor, and forthwith upon receipt by the BorrowerGrantor, be turned over to the Agent in the exact form received by the Borrower Grantor (duly indorsed by the Borrower Grantor to the Agent, if required) and held by the Agent in a Collateral Account maintained under the sole dominion and control of the Agent. All Proceeds while held by the Agent in a Collateral Account (or by the Borrower Grantor in trust for the Agent and the Lenders) 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 8(c).

Proceeds to be Turned Over To Agent. In addition to the rights of the Agent and the Lenders specified in Section subsection 5.3 with respect to payments of AccountsReceivables, if an Event of Default shall occur and be continuing, upon the Agent may requirewritten notice of the Agent, by notice to the Borrower that all Proceeds received by the Borrower each Pledgor consisting of cash, checks and other near-cash items shall be held by the Borrower such Pledgor in trust for the Agent and the Lenders, segregated from other funds of the Borrowersuch Pledgor, and shall, forthwith upon receipt by the Borrowersuch Pledgor, be turned over to the Agent in the exact form received by the Borrower such Pledgor (duly indorsed by the Borrower such Pledgor to the Agent, if required) and held by the Agent in a Collateral Account maintained under the sole dominion and control of the Agent. All Proceeds while held by the Agent in a Collateral Account (or by the Borrower a 207 Pledgor in trust for the Agent and the Lenders) 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 8(c)subsection 9.3.