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

Proceeds to be Turned Over To Shared Collateral Agent. Subject to the provisions of the Subordinated Guarantee Intercreditor Agreement, if an Enforcement Event shall have occurred and be continuing, and the Shared Collateral Agent, upon the request of the requisite Shared Collateral Secured Parties, in accordance with the Intercreditor Agreement, shall have given notice thereof to the Newco Subordinated Guarantors, all Proceeds of Pledged Collateral received by any Newco Subordinated Guarantor consisting of cash, checks and other near-cash items shall be held by such Newco Subordinated Guarantor in trust for the Shared Collateral Agent and the Shared Collateral Secured Parties, segregated from other funds of such Newco Subordinated Guarantor, and shall, forthwith upon receipt by such Newco Subordinated Guarantor, be turned over to the Shared Collateral Agent in the exact form received by such Newco Subordinated Guarantor (duly indorsed by such Newco Subordinated Guarantor to the Shared Collateral Agent, if required). All Proceeds of Pledged Collateral received by the Shared Collateral Agent hereunder shall be held by the Shared Collateral Agent in a Shared Collateral Account maintained under its sole dominion and control in accordance with the Intercreditor Agreement. All Proceeds while held by the Shared Collateral Agent in a Shared Collateral Account (or by such Newco Subordinated Guarantor in trust for the Shared Collateral 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 7.3.

Proceeds to be Turned Over To Shared Collateral Agent. Subject In addition to the provisions rights of the Subordinated Guarantee Intercreditor AgreementShared Collateral Agent and the Shared Collateral Secured Parties specified in Section 7.1 with respect to payments of Receivables, if an Enforcement Event shall have occurred and be continuing, and the Shared Collateral Agent, upon the request of the requisite Shared Collateral Secured Parties, in accordance with the Intercreditor Agreement, shall have given notice thereof to the Newco Subordinated GuarantorsGrantors, all Proceeds of Pledged Collateral received by any Newco Subordinated Guarantor Grantor consisting of cash, checks and other near-cash items shall be held by such Newco Subordinated Guarantor Grantor in trust for the Shared Collateral Agent and the applicable Shared Collateral Secured Parties, segregated from other funds of such Newco Subordinated GuarantorGrantor, and shall, forthwith upon receipt by such Newco Subordinated GuarantorGrantor, be turned over to the Shared Collateral Agent in the exact form received by such Newco Subordinated Guarantor Grantor (duly indorsed by such Newco Subordinated Guarantor Grantor to the Shared Collateral Agent, if required). All Proceeds of Pledged Collateral received by the Shared Collateral Agent hereunder shall be held by the Shared Collateral Agent in a Shared Collateral Account maintained under its sole dominion and control in accordance with the Intercreditor Agreement. All Proceeds while held by the Shared Collateral Agent in a Shared Collateral Account (or by such Newco Subordinated Guarantor Grantor in trust for the applicable Shared Collateral Secured Parties) shall continue to be held as collateral security for all the applicable Obligations and shall not constitute payment thereof until applied as provided in Section 7.37.5.

Proceeds to be Turned Over To Shared Collateral Agent. Subject In addition to the provisions rights of the Subordinated Guarantee Intercreditor AgreementShared Collateral Agent and the Shared Collateral Secured Parties specified in Section 7.1 with respect to payments of Receivables, if an Enforcement Event shall have occurred and be continuing, and the Shared Collateral Agent, upon the request of the requisite Shared Collateral Secured Parties, in accordance with the Intercreditor Agreement, shall have given notice thereof to the Newco Subordinated GuarantorsGrantors, all Proceeds of Pledged Collateral received by any Newco Subordinated Guarantor Grantor consisting of cash, checks and other near-cash items shall be held by such Newco Subordinated Guarantor Grantor in trust for the Shared Collateral Agent and the Shared Collateral Secured Parties, segregated from other funds of such Newco Subordinated GuarantorGrantor, and shall, forthwith upon receipt by such Newco Subordinated GuarantorGrantor, be turned over to the Shared Collateral Agent in the exact form received by such Newco Subordinated Guarantor Grantor (duly indorsed by such Newco Subordinated Guarantor Grantor to the Shared Collateral Agent, if required). All Proceeds of Pledged Collateral received by the Shared Collateral Agent hereunder shall be held by the Shared Collateral Agent in a Shared Collateral Account maintained under its sole dominion and control in accordance with the Intercreditor Agreement. All Proceeds while held by the Shared Collateral Agent in a Shared Collateral Account (or by such Newco Subordinated Guarantor Grantor in trust for the Shared Collateral 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 7.37.5.