Common use of Tracing of and Priorities in Proceeds Clause in Contracts

Tracing of and Priorities in Proceeds. The Revolving Collateral Agent, for itself and on behalf of the other Revolving Claimholders, and the Term Collateral Agent, for itself and on behalf of the other Term Claimholders, further agree that until the earlier of an issuance of any Enforcement Notice by such Claimholder or a bankruptcy or insolvency constituting a Term Default or a bankruptcy or insolvency constituting a Revolving Default, as applicable, then exists, any proceeds of Collateral, whether or not deposited under control agreements, which are used by any Grantor to acquire other property which is Collateral shall not (solely as between the Claimholders) be treated as Proceeds of Collateral for purposes of determining the relative Lien priorities in the Collateral which was so acquired.

Tracing of and Priorities in Proceeds. The Revolving Collateral Agent, for itself and on behalf of the other Revolving Claimholders, and the Term Notes Collateral Agent, for itself and on behalf of the other Term Notes Claimholders, further agree that until the earlier of an issuance of any Enforcement Notice by such Claimholder or a bankruptcy or insolvency constituting a Term Notes Default or a bankruptcy or insolvency constituting a Revolving Default, as applicable, then exists, any proceeds of Collateral, whether or not deposited under control agreements, which are used by any Grantor to acquire other property which is Collateral shall not (solely as between the Claimholders) be treated as Proceeds of Collateral for purposes of determining the relative Lien priorities in the Collateral which was so acquired.

Tracing of and Priorities in Proceeds. The Revolving Collateral Agent, for itself and on behalf of the other Revolving Claimholders, and the Term Collateral Loan Agent, for itself and on behalf of the other Term Loan Claimholders, further agree that until the earlier of prior to an issuance of any Enforcement Notice by such Claimholder or (unless a bankruptcy or insolvency constituting a Term Revolving Default or a bankruptcy or insolvency constituting a Revolving Default, as applicable, Term Loan Default then exists), any proceeds of CollateralCollateral obtained in accordance with the terms of the Revolving Loan Documents and the Term Loan Documents, whether or not deposited under control agreements, which are used by any Grantor to acquire other property which is Collateral shall not (solely as between the Claimholders) be treated as Proceeds of Collateral for purposes of determining the relative Lien priorities in the Collateral which was so acquired.