Sharing of Proceeds. If, despite the provisions of this Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of payments on account of the Secured Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or recovery in trust for the benefit of all Secured Parties for distribution in accordance with Section 11.1.
Appears in 4 contracts
Samples: Security Agreement (Ryerson International Material Management Services, Inc.), Security Agreement (J.M. Tull Metals Company, Inc.), First Lien Security Agreement (iPCS, INC)
Sharing of Proceeds. If, despite the provisions of this Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of payments on account of the Secured Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or other recovery in trust for the benefit of all Secured Parties the parties entitled thereto and promptly pay over or deliver such payment or other recovery to the Collateral Agent for distribution application by the Collateral Agent in accordance with Section 11.1this Agreement.
Appears in 3 contracts
Samples: Intercreditor and Collateral Agency Agreement (Trex Co Inc), Intercreditor and Collateral Agency Agreement (Trex Co Inc), Note Purchase Agreement (Chalone Wine Group LTD)
Sharing of Proceeds. If, despite the provisions of this Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of payments on account of the Secured Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or other recovery in trust for the benefit of all Secured Parties hereunder for distribution in accordance with Section 11.1(S)6.10(a).
Appears in 2 contracts
Samples: Intercreditor and Collateral Agency Agreement (Xm Satellite Radio Inc), Intercreditor and Collateral Agency Agreement (Xm Satellite Radio Inc)
Sharing of Proceeds. If, despite the provisions of this Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of payments on account of the Secured Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or other recovery in trust for the benefit of all Secured Parties hereunder for distribution in accordance with Section 11.16.10(a).
Appears in 2 contracts
Samples: Intercreditor and Collateral Agency Agreement (Xm Satellite Radio Inc), Intercreditor and Collateral Agency Agreement (Xm Satellite Radio Inc)
Sharing of Proceeds. If, despite the provisions of this Security Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of payments on account of the Secured Obligations to which it is then entitled in accordance with this Agreement, such Secured Party shall hold such payment or recovery in trust for the benefit of all Secured Parties for distribution in accordance with Section 11.18.1.
Appears in 1 contract
Samples: Second Lien Notes Pledge and Security Agreement (Reddy Ice Holdings Inc)
Sharing of Proceeds. If, despite the provisions of this Security Agreement, any Secured Party shall receive any payment or other recovery in excess of its portion of payments on account of the Secured Obligations to which it is then entitled in accordance with this Security Agreement, such Secured Party shall hold such payment or other recovery in trust for the benefit of all Secured Parties the parties entitled thereto and promptly pay over or deliver such payment or other recovery to the Collateral Agent for distribution application by the Collateral Agent in accordance with Section 11.1this Security Agreement.
Appears in 1 contract
Samples: Security Agreement (Trex Co Inc)
