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

Right to Receive Distributions on Collateral. During the continuance of any Event of Default, the Pledgee shall, subject to the provisions of the PST Documents, have the right to receive and to retain as Collateral hereunder all dividends, interest and other payments and distributions made upon or with respect to the Collateral, and each Grantor shall take all such action as the Pledgee may deem necessary or appropriate to give effect to such right. All such dividends, interest and other payments and distributions which are received by a Grantor shall be received in trust for the benefit of the Pledgee and the Lenders (but, unless an Event of Default shall have occurred and be continuing, may be used by such Grantor as permitted by the other provisions of this Agreement and the other Loan Documents). If the Pledgee so directs during the continuance of an Event of Default, such dividends, interest and other payments and distributions shall be segregated from other funds of such Grantor and shall, forthwith upon demand by the Pledgee during the continuance of an Event of Default, be paid over to the Pledgee as Collateral in the same form as received (with any necessary endorsement). After all Events of Default have been cured, the Pledgee's right to retain dividends, interest and other payments and distributions under this Section 7 shall cease, and the Pledgee shall pay over to such Grantor any such Collateral retained by it during the continuance of an Event of Default.

Right to Receive Distributions on Collateral. During the continuance of any Event of Default, the Pledgee shall, subject to the provisions of the PST Documents, Agent shall have the right to receive and to retain as Collateral hereunder all dividends, interest and other payments and distributions made upon or with respect to the Collateral, and each Grantor shall take all such action as the Pledgee Agent may deem necessary or appropriate to give effect to such right. All such dividends, interest and other payments and distributions which are received by a Grantor shall be received in trust for the benefit of the Pledgee Agent and the Lenders Banks (but, unless an Event of Default shall have occurred and be continuing, may be used by such Grantor as permitted by the other provisions of this Agreement and the other Loan Documents). If the Pledgee Agent so directs during the continuance of an Event of Default, such dividends, interest and other payments and distributions shall be segregated from other funds of such Grantor and shall, forthwith upon demand by the Pledgee Agent during the continuance of an Event of Default, be paid over to the Pledgee Agent as Collateral in the same form as received (with any necessary endorsement). After all Events of Default have been cured, the PledgeeAgent's right to retain dividends, interest and other payments and distributions under this Section 7 shall cease, and the Pledgee Agent shall pay over to such Grantor any such Collateral retained by it during the continuance of an Event of Default.

Right to Receive Distributions on Collateral. During The Agent shall have the right to receive and, upon the occurrence and during the continuance of any Event of Default, the Pledgee shall, subject to the provisions of the PST Documents, have the right to receive and to retain as Collateral hereunder all dividends, interest and other payments and distributions made upon or with respect to the Collateral, Collateral and each Grantor the Debtor shall take all such action as the Pledgee Agent may deem necessary or appropriate to give effect to such right. All such dividends, interest and other payments and distributions which are received by a Grantor the Debtor shall be received in trust for the benefit of the Pledgee Agent and the Lenders (butBanks and, unless an Event of Default shall have occurred and be continuing, may be used by such Grantor as permitted by if the other provisions of this Agreement and the other Loan Documents). If the Pledgee Agent so directs during the continuance of an Event of Default, such dividends, interest and other payments and distributions shall be segregated from other funds of such Grantor the Debtor and shall, forthwith upon demand by the Pledgee Agent during the continuance of an Event of Default, be paid over to the Pledgee Agent as Collateral in the same form as received (with any necessary endorsement). After all Events of Default have been cured, the PledgeeAgent's right to retain dividends, interest and other payments and distributions under this Section 7 shall cease, cease and the Pledgee Agent shall pay over to such Grantor the Debtor any such Collateral retained by it during the continuance of an any Event of Default.

Right to Receive Distributions on Collateral. During the continuance of any Event of Default, the Pledgee shall, subject to the provisions of the PST Documents, shall have the right to receive and to retain as Collateral hereunder all dividends, interest and other payments and distributions made upon or with respect to the Collateral, and each Grantor shall take all such action as the Pledgee may deem necessary or appropriate to give effect to such right. All such dividends, interest and other payments and distributions which are received by a Grantor shall be received in trust for the benefit of the Pledgee and the Lenders (but, unless an Event of Default shall have occurred and be continuing, may be used by such Grantor as permitted by the other provisions of this Agreement and the other Loan Documents). If the Pledgee so directs during the continuance of an Event of Default, such dividends, interest and other payments and distributions shall be segregated from other funds of such Grantor and shall, forthwith upon demand by the Pledgee during the continuance of an Event of Default, be paid over to the Pledgee as Collateral in the same form as received (with any necessary endorsement). After all Events of Default have been cured, the Pledgee's right to retain dividends, interest and other payments and distributions under this Section 7 shall cease, and the Pledgee shall pay over to such Grantor any such Collateral retained by it during the continuance of an Event of Default.