Common use of Right to Receive Distributions on Collateral Clause in Contracts

Right to Receive Distributions on Collateral. During the continuance of any Default the Agent shall have the right to receive and to retain as Collateral hereunder all dividends and other payments and distributions made upon or with respect to the Collateral and the Borrower shall take all such action as the Agent may deem necessary or appropriate to give effect to such right. All such dividends and other payments and distributions which are received by the Borrower shall be received in trust for the benefit of the Agent and the Secured Parties and, if the Agent so directs during the continuance of a Default, shall be segregated from other funds of the Borrower and shall, forthwith upon demand by the Agent during the continuance of a Default, be paid over to the Agent as Collateral in the same form as received (with any necessary endorsement). After all Defaults have been cured, the Agent's right to retain dividends and other payments and distributions under this Section 7 shall cease and the Agent shall pay over to the Borrower any such Collateral retained by it during the continuance of a Default.

Right to Receive Distributions on Collateral. During the continuance of any Default the The Security Agent shall have the right to receive and and, during the continuance of any Default, to retain as Collateral hereunder all dividends and other payments and distributions made upon or with respect to the Collateral Collateral, and the Borrower each Grantor shall take all such action as the Security Agent may deem necessary or appropriate to give effect to such right. All such dividends and other payments and distributions which are received by the Borrower a Grantor shall be received in trust for the benefit of the Agent and the Secured Parties and, if the Security Agent so directs during the continuance of a Default, shall be segregated from other funds of the Borrower such Grantor and shall, forthwith upon demand by the Security Agent during the continuance of a Default, be paid over to the Security Agent as Collateral in the same form as received (with any necessary endorsement). After all Defaults have been cured, the Security Agent's right to retain dividends and other payments and distributions under this Section 7 shall cease and the Security Agent shall pay over to the Borrower such Grantor any such Collateral retained by it during the continuance of a Default. It is understood that prior to the occurrence of a Default, all dividends and other payments and distributions made upon or with respect to the Collateral shall be distributable to the Grantors.

Right to Receive Distributions on Collateral. During the continuance of any Default the The Collateral Agent shall have the right to receive and and, during the continuance of any Default, to retain as Collateral hereunder all dividends and other payments and distributions made upon or with respect to the Collateral and the Borrower Lien Grantor shall take all such action as the Collateral Agent may deem necessary or appropriate to give effect to such right. All such dividends and other payments and distributions which are received by the Borrower Lien Grantor shall be received in trust for the benefit of the Collateral Agent and the Secured Parties Lender and, if the Collateral Agent so directs during the continuance of a Default, shall be segregated from other funds of the Borrower Lien Grantor and shall, forthwith upon demand by the Collateral Agent during the continuance of a Default, be paid over to the Collateral Agent as Collateral in the same form as received (with any necessary endorsement). After all Defaults have been cured, the Collateral Agent's ’s right to retain dividends dividends, interest and other payments and distributions under this Section 7 shall cease and the Collateral Agent shall pay over to the Borrower Lien Grantor any such Collateral retained by it during the continuance of a Default.

Right to Receive Distributions on Collateral. During the continuance of any Default the The Agent shall have the right to receive and and, during the continuance of any Default, to retain as Collateral hereunder all dividends dividends, interest and other payments and distributions made upon or with respect to the Collateral and the Borrower Pledgors shall take all such action as the Agent may deem necessary or appropriate to give effect to such right. All such dividends dividends, interest and other payments and distributions which are received by the Borrower any Pledgor shall be received in trust for the benefit of the Agent and the Secured Parties and, if the Agent so directs during the continuance of a Default, shall be segregated from other funds of the Borrower such Pledgor and shall, forthwith upon demand by the Agent during the continuance of a Default, be paid over to the Agent as Collateral in the same form as received (with any necessary endorsement). After all Defaults have been cured, the Agent's right to retain dividends dividends, interest and other payments and distributions under this Section 7 shall cease and the Agent shall pay over to the Borrower appropriate Pledgor any such Collateral retained by it during the continuance of a Default.

Right to Receive Distributions on Collateral. During Subject to the rights of the holders of the Senior Secured Obligations, during the continuance of any Default the Agent shall have the right to receive and to retain as Collateral hereunder all dividends and other payments and distributions made upon or with respect to the Collateral and the Borrower shall take all such action as the Agent may deem necessary or appropriate to give effect to such right. All such dividends and other payments and distributions which are received by the Borrower shall be received in trust for the benefit of the Agent and the Secured Parties Banks and, if the Agent so directs during the continuance of a Default, shall be segregated from other funds of the Borrower and shall, forthwith upon demand by the Agent during the continuance of a Default, be paid over to the Agent as Collateral in the same form as received (with any necessary endorsement). After all Defaults have been cured, the Agent's right to retain dividends and other payments and distributions under this Section 7 shall cease and the Agent shall pay over to the Borrower any such Collateral retained by it during the continuance of a Default.