Common use of Sums received by Obligors Clause in Contracts

Sums received by Obligors. If any of the Obligors receives or recovers any sum from an Obligor which, under the terms of any of the Finance Documents, should have been paid to the Security and Intercreditor Agent, that Obligor will: (A) hold an amount of that receipt or recovery equal to the Relevant Liabilities (or if less, the amount received or recovered) on trust for the Security and Intercreditor Agent and promptly pay that amount to the Security and Intercreditor Agent for application in accordance with Clause 10 (APPLICATION OF PROCEEDS). (B) promptly pay an amount equal to the amount (if any) by which the receipt or recovery exceeds the Relevant Liabilities to the Security and Intercreditor Agent for application in accordance with Clause 10 (APPLICATION OF PROCEEDS).

Sums received by Obligors. If any of the Obligors receives or recovers any sum from an Obligor a Subordinated Guarantor which, under the terms of any of the Finance Documents, should have been paid to the Security Agent or to the Security and Intercreditor AgentAgent (as applicable), that Obligor will: (A) hold an amount of that receipt or recovery equal to the Relevant Liabilities (or if less, the amount received or recovered) on trust for the Security and Intercreditor Proceeds Agent and promptly pay that amount to the Security and Intercreditor Proceeds Agent for application in accordance with Clause 10 (APPLICATION OF PROCEEDS).the terms of this Agreement; and (B) promptly pay an amount equal to the amount (if any) by which the receipt or recovery exceeds the Relevant Liabilities to the Security and Intercreditor Proceeds Agent for application in accordance with Clause 10 (APPLICATION OF PROCEEDS)the terms of this Agreement.