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

Proceeds to be Turned Over To Lender. In addition to the rights of the the Lender specified in Section 4.3(a) with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Proceeds received by any Borrower consisting of cash, cash equivalents, checks and other near-cash items shall be held by such Borrower in trust for the Lender, segregated from other funds of such Borrower or in a Deposit Account over which the Lender has “control” (within the meaning of Section 9-104 of the UCC), and shall, forthwith upon receipt by such Borrower, be turned over to the Lender in the exact form received by such Borrower (duly endorsed by such Borrower to the Lender, if required). All Proceeds received by the Lender hereunder shall be held by the Lender in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Lender in a Collateral Account (or by such Borrower 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 4.3(f).

Proceeds to be Turned Over To Lender. In addition to the rights of the the Lender specified in Section 4.3(a) subsection 5.4 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, and in all events subject to the rights of Borrower's senior Lien holders, all Proceeds received by any the Borrower consisting of cash, cash equivalents, checks and other near-cash items shall be held by such the Borrower in trust for the Lender, segregated from other funds of such Borrower or in a Deposit Account over which the Lender has “control” (within the meaning of Section 9-104 of the UCC)Borrower, and shall, forthwith upon receipt by such the Borrower, be turned over to the Lender in the exact form received by such the Borrower (duly endorsed indorsed by such the Borrower to the Lender, if required). All Proceeds received by the Lender hereunder shall be ) and held by the Lender in a Collateral Account maintained under its the sole dominion and controlcontrol of the Lender. All Proceeds while held by the Lender in a Collateral Account (or by such the Borrower in trust for the Secured PartiesLender) shall continue to be held as collateral security for all the Obligations Obligation and shall not constitute payment thereof until applied as provided in Section 4.3(f)subsection 8.3.