Receipt of Money or Proceeds. Each Beneficiary hereby agrees ---------------------------- that if, at any time during the term of this Agreement, such Beneficiary receives any payment or distribution of assets of the Company of any kind or character, whether monies or cash proceeds resulting from liquidation of the Collateral, other than in accordance with the terms of this Agreement, such Beneficiary shall hold such payment or distribution in trust for the benefit of the Collateral Agent on behalf of all Beneficiaries and shall immediately remit such payment or distribution to the Collateral Agent.
Receipt of Money or Proceeds. The Holdings Collateral Agent, the other Secured Parties and the Depository Agent hereby agree that if, at any time during the term of this Intercreditor Agreement, any Secured Party receives any payment or distribution of assets of any Obligor of any kind or character (other than the proceeds of collateral (other than Holdings Collateral) the benefits of which such Secured Party is entitled to receive in accordance with this Intercreditor Agreement and the other Financing Documents to which such Secured Party is a party, which, in each case shall be received, retained and applied by the Person entitled thereto), whether monies or cash proceeds resulting from liquidation of the Holdings Collateral, other than in accordance with the terms of this Intercreditor Agreement, such Secured Party shall hold such payment or distribution in trust for the benefit of all of the Secured Parties and shall immediately remit such payment or distribution to the Holdings Collateral Agent and the Holdings Collateral Agent shall hold such monies or proceeds for application or distribution or apply or distribute such monies or proceeds, as the case may be, as directed by the Required Creditors in accordance with the terms of this Intercreditor Agreement.
Receipt of Money or Proceeds. The Secured Parties and the Depositary Agent hereby agree that if, at any time during the term of this Agreement, any Secured Party receives any payment or distribution of assets of the Borrowers of any kind or character, whether monies or cash proceeds resulting from liquidation of the Collateral, other than in accordance with the terms of this Agreement and the Depositary Agreement, the Secured Party shall hold such payment or distribution in trust for the benefit of the Secured Parties and shall immediately remit such payment or distribution to the Depositary Agent and the Depositary Agent shall deposit such monies or proceeds in the Project Revenue Fund for application or distribution, as the case may be, in accordance with the terms of this Agreement and the Depositary Agreement.
Receipt of Money or Proceeds. The Holders hereby agree that if, after an acceleration of the Notes, any Holder receives any payment or distribution of assets of the Company of any kind or character, whether monies or cash proceeds resulting from liquidation of the Collateral, other than in accordance with the terms of this Agreement, such Holder shall hold such payment or distribution in trust for the benefit of the Holders and shall immediately remit such payment or distribution to the Collateral Agent for application or distribution, as the case may be, in accordance with the terms of this Agreement.
Receipt of Money or Proceeds. The Secured Parties hereby agree that if, at any time during the term of this Agreement, any Secured Party receives any payment or distribution of assets of any Obligor (including any Subsequent Guarantor) of any kind or character (other than the proceeds of collateral (other than Intercreditor Collateral) the benefits of which such Secured Party is entitled, which, in each case shall be received, retained and applied by the Person entitled thereto), whether moneys or cash proceeds resulting from liquidation of the Intercreditor Collateral, other than in accordance with the terms of this Agreement and the Senior Secured Debt Documents, and such Secured Party shall hold such payment or distribution in trust for the benefit of all of the Secured Parties and shall immediately remit such payment or distribution to the Collateral Agent and the Collateral Agent shall apply such moneys in accordance with the terms of this Agreement.
Receipt of Money or Proceeds. The Senior Parties and the Collateral Agent hereby agree that if, at any time during the term of this Agreement, any Senior Party receives any payment or distribution of assets of the Partnership of any kind or character, whether monies or cash proceeds resulting from liquidation of the Collateral, other than in accordance with the terms of this Agreement, the Senior Party shall hold such payment or distribution in trust for the benefit of the Senior Parties and shall immediately remit such payment or distribution to the Collateral Agent and the Collateral Agent shall deposit such monies or proceeds in the Revenue Fund for application or distribution, as the case may be, in accordance with the terms of this Agreement. If any Senior Party shall certify in writing to the Collateral Agent that any Senior Debt in respect of which such Senior Party is the trustee or agent has not been paid when due and after the giving of any applicable notice or the passage of any applicable grace period (such amount referred to herein as "ARREARAGES"), then in any such event, and upon the written request of such Senior Party, the Collateral Agent shall make demand for payment of such Arrearages where such demand may be made by the terms thereof.
Receipt of Money or Proceeds. (a) Each Representative hereby agrees on behalf of all Secured Parties for whom such Representative is acting, and each other Person that becomes a party hereto agrees, that if at any time during the term of this Agreement, any Representative receives any payment or distribution of assets of the Issuers of any kind or character, whether monies or Cash proceeds resulting from liquidation of the Collateral, other than in accordance with the terms of this Agreement and the Security Agreement, such Representative shall hold such payment or distribution in trust for the benefit of the Secured Parties and shall immediately remit such payment or distribution to the Collateral Agent.
(b) In the event that notwithstanding the provisions of this Agreement and the other Financing Documents, any holder of any Subordinate Interests shall have received any payment or distribution in respect of such Subordinate Interests contrary to the provisions of this Agreement and the other Financing Documents, then, unless and until the Senior Secured Obligations and all other amounts owing thereunder shall have been paid in full in Cash, such payment or distribution shall be received and held in trust for the benefit of, and shall forthwith be paid over and delivered to, the Collateral Agent, which shall pay and deliver the same to the Senior Secured Parties in accordance with Article 4 of the Security Agreement.
Receipt of Money or Proceeds. The Secured Parties and the Depositary Bank hereby agree that if, at any time during the term of this Agreement, any Secured Party receives any payment or distribution of assets of Funding Company or any Project Obligor of any kind or character, whether monies or cash proceeds resulting from liquidation of the Collateral, other than in accordance with the terms of this Agreement and the Depositary Agreements, the Secured Party shall hold such payment or distribution in trust for the benefit of the Secured Parties and shall immediately remit such payment or distribution to the Depositary Bank and the Depositary Bank shall deposit such monies or proceeds in the applicable Revenue Account for application or distribution, as the case may be, in accordance with the terms of the applicable Depositary Agreement. If any Secured Party shall certify in writing to the Collateral Agent that any Permitted Indebtedness in respect of which such Secured Party is the trustee or Agent has not been paid when due and after the giving of any applicable notice or the passage of any applicable grace period (such amount referred to herein as "ARREARAGES"), then in any such event, and upon the written request of such Secured Party, the Collateral Agent shall make demand for payment of such Arrearages where such demand may be made by the terms thereof.
Receipt of Money or Proceeds. The Secured Parties and the Collateral Agent hereby agree that if, at any time during the term of this Agreement, any Secured Party or the Collateral Agent receives any payment or distribution of assets of any of Atlantic Power Corporation, the Company or the Guarantors of any kind or character, whether Monies or cash proceeds resulting from liquidation of the Collateral, other than in accordance with the terms of this Agreement and the Depositary Agreement, such Secured Party or the Collateral Agent shall hold such payment or distribution in trust for the benefit of the Secured Parties and shall immediately remit such payment or distribution to the Depositary Bank for application or distribution, as the case may be, in accordance with the terms of this Agreement and the Depositary Agreement.
Receipt of Money or Proceeds. The Secured Parties and the Depositary Bank hereby agree that if at any time during the term of this Agree ment any Secured Party receives any payment or distribution of assets of the Obligor Parties of any kind or character, whether monies or cash proceeds resulting from liquidation of the Collateral, other than in accordance with the terms of this Agree ment and the Depositary Agreement, such Secured Party shall hold such payment or distribution in trust for the benefit of the Secured Parties and shall immediately remit such payment or distribution to the Depositary Bank, and the Depositary Bank shall deposit such monies or proceeds in the Revenue Account for application or distribution, as the case may be, in accordance with the terms of this Agreement and the Depositary Agreement.
