Common use of Proceeds to be Turned over to and Held by Agent Clause in Contracts

Proceeds to be Turned over to and Held by Agent. Unless otherwise expressly provided in this Agreement, upon the occurrence and during the continuance of an Event of Default, subject to the Remedies Notice Period, all proceeds of any Collateral received by any Loan Party hereunder in cash or Cash Equivalents shall be held by such Loan Party in trust for the Agent and the other Secured Parties, segregated from other funds of such Loan Party, and shall, promptly upon receipt by any Loan Party, be turned over to the Agent in the exact form received (with any necessary endorsement). All such proceeds of Collateral and any other proceeds of any Collateral received by the Agent in cash or Cash Equivalents shall be held by the Agent in a Deposit Account or Securities Account. All proceeds being held by the Agent in a Deposit Account or Securities Account (or by such Loan Party in trust for the Agent) shall continue to be held as collateral security for the Obligations and shall not constitute payment thereof until applied as provided in this Agreement.

Proceeds to be Turned over to and Held by Agent. Unless otherwise expressly provided in this the Credit Agreement, upon this Agreement or the occurrence and during the continuance of an Event of Default, subject to the Remedies Notice PeriodIntercreditor Agreement, all proceeds of any Collateral received by any Loan Party Grantor hereunder in cash or Cash Equivalents shall be held by such Loan Party Grantor in trust for the Agent and the other Secured Parties, segregated from other funds of such Loan PartyGrantor, and to the extent required by the Credit Agreement, this Agreement or the Intercreditor Agreement, shall, promptly upon receipt by any Loan PartyGrantor, be turned over to the Agent in the exact form received (with any necessary endorsement). All such proceeds of Collateral and any other proceeds of any Collateral received by the Agent in cash or Cash Equivalents shall be held by the Agent in a Deposit Account or Securities Cash Collateral Account. All proceeds being held by the Agent in a Deposit Account or Securities Cash Collateral Account (or by such Loan Party Grantor in trust for the Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as provided in this the Credit Agreement.

Proceeds to be Turned over to and Held by Agent. Unless otherwise expressly provided in the Credit Agreement or this Agreement, upon the occurrence and during the continuance of an Event of Default, subject to the Remedies Notice PeriodDefault or if Availability falls below $4,000,000, all proceeds of any Collateral received by any Loan Party Grantor hereunder in cash or Cash Equivalents shall be held by such Loan Party Grantor in trust for the Agent and the other Secured Parties, segregated from other funds of such Loan PartyGrantor, and shall, promptly upon receipt by any Loan PartyGrantor, be turned over to the Agent in the exact form received (with any necessary endorsement). All such proceeds of Collateral and any other proceeds of any Collateral received by the Agent in cash or Cash Equivalents shall be held by the Agent in a Deposit Account or Securities Cash Collateral Account. All proceeds being held by the Agent in a Deposit Account or Securities Cash Collateral Account (or by such Loan Party Grantor in trust for the Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as provided in this the Credit Agreement.

Proceeds to be Turned over to and Held by Agent. Unless otherwise expressly provided in the Credit Agreement or this Agreement, upon the occurrence and during the continuance continuation of an Event of Default, subject to the Remedies Notice Period, all proceeds of any Collateral received by any Loan Party Grantor hereunder in cash or Cash Equivalents shall be held by such Loan Party Grantor in trust for the Agent and the other Secured Parties, segregated from other funds of such Loan PartyGrantor, and shall, promptly upon receipt by any Loan PartyGrantor, be turned over to the Agent in the exact form received (with any necessary endorsement). All such proceeds of Collateral and any other proceeds of any Collateral received by the Agent in cash or Cash Equivalents shall be held by the Agent in a Deposit Account or Securities Cash Collateral Account. All proceeds being held by the Agent in a Deposit Account or Securities Cash Collateral Account (or by such Loan Party Grantor in trust for the Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as provided in this the Credit Agreement.