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

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

Right to Receive Distributions on Collateral. Upon the occurrence and during the continuance of any Event of DefaultNon Payment Event, the Secured Party Parties shall have the right to be paid and receive and to retain as Collateral hereunder hereunder, all dividends, interest and other payments and distributions made upon or with respect to the Collateral Collateral, and the Pledgor shall take all such action as the Secured Party Parties may deem necessary or appropriate to give effect to such right. Upon the occurrence and during the continuance of any Event of Default, all All such dividends, interest and other payments and distributions which are received by the Pledgor during the continuance of a Non Payment Event shall be received in trust as Collateral for the benefit of the Secured Party Parties and, if the Secured Party Parties so directsdirect during the continuance of a Non Payment Event, shall be segregated from other funds of the Pledgor and shall, forthwith upon demand by the Secured Party Parties during the continuance of an Event of Defaulta Non Payment Event, be paid over to the Secured Party Parties as Collateral in the same form as received (with any necessary endorsement), and the Secured Parties shall deliver a written acknowledgement of receipt of all interest and other payments and distributions received. After all Non Payment Events of Default that shall have occurred have been curedcured or waived, the Secured Party's right Parties’ rights to receive and retain dividends, interest and other payments and distributions under this Section 7 with respect to such Non Payment Events shall cease and each of the Secured Party Parties shall pay over to the Pledgor any such Collateral retained by the Secured Party it during the continuance of an Event of Defaulta Non Payment Event.

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