Common use of Treatment of Contingent Obligations Clause in Contracts

Treatment of Contingent Obligations. Notwithstanding ------------------------------------ the foregoing, distributions under clause SECOND of Section 5.02 shall be made disregarding any Contingent Obligations. If any Contingent Obligations exist at any time that any amounts are to be distributed to the Borrower under clause THIRD of Section 5.02, the Collateral Agent shall deposit such amounts up to an amount equal to such Contingent Obligations in a collateral account established and maintained at its office located at Xxx Xxxxxx XxXxxxxxxxx, 0xx Xxxxx, Xxxxxx, XX 00000-0000 (designated the "Contingent Obligations Collateral --------------------------------- Account") for the benefit of the Secured Parties that have a claim with respect ------- to such Contingent Obligations. The Collateral Agent shall invest such amounts in Permitted Investments until the Representative of such Secured Parties or the applicable Unrepresented Holder, as the case may be, shall notify the Collateral Agent that any or all of the Contingent Obligations with respect to the Secured Parties represented by such Representative or such Unrepresented Holder, as the case may be, have become fixed or liquidated (in which case such amounts up to the amount in the Contingent Obligations Collateral Account shall be delivered to such Representative or Unrepresented Holder, as the case may be, to be applied pursuant to the applicable Secured Instrument) or that such Contingent Obligations have expired or cease to exist (in which case an amount in the Contingent Obligations Collateral Account in excess of the Contingent Obligations outstanding at such time shall be applied in accordance with the provisions of Section 5.02).

Treatment of Contingent Obligations. Notwithstanding ------------------------------------ the foregoing, distributions under clause SECOND of Section 5.02 shall be made disregarding any Contingent Obligations. If any Contingent Obligations exist at any time that any amounts are to be distributed to the Borrower under clause THIRD of Section 5.02, the Collateral Agent shall deposit such amounts up to an amount equal to such Contingent Obligations in a collateral account established and maintained at its office located at Xxx Xxxxxx XxXxxxxxxxx, 0xx Xxxxx, Xxxxxx, XX 00000-0000 (designated the "Contingent ---------- Obligations Collateral --------------------------------- Account") for the benefit of the Secured Parties that ------------------------------ have a claim with respect ------- to such Contingent Obligations. The Collateral Agent shall invest such amounts in Permitted Investments until the Representative of such Secured Parties or the applicable Unrepresented Holder, as the case may be, shall notify the Collateral Agent that any or all of the Contingent Obligations with respect to the Secured Parties represented by such Representative or such Unrepresented Holder, as the case may be, have become fixed or liquidated (in which case such amounts up to the amount in the Contingent Obligations Collateral Account shall be delivered to such Representative or Unrepresented Holder, as the case may be, to be applied pursuant to the applicable Secured Instrument) or that such Contingent Obligations have expired or cease to exist (in which case an amount in the Contingent Obligations Collateral Account in excess of the Contingent Obligations outstanding at such time shall be applied in accordance with the provisions of Section 5.02).

Treatment of Contingent Obligations. Notwithstanding ------------------------------------ the foregoing, distributions under clause SECOND of Section 5.02 shall 15 180 be made disregarding any Contingent Obligations. If the Collateral Agent is notified in writing by any Administrative Agent that any Contingent Obligations exist at any time that any amounts are to be distributed to the Borrower under clause THIRD FIFTH of Section 5.02, the Collateral Agent shall deposit such amounts up to an amount equal to such Contingent Obligations in a collateral account established and maintained at one of its office offices located at Xxx Xxxxxx XxXxxxxxxxxin New York, 0xx Xxxxx, Xxxxxx, XX 00000-0000 NY (designated the "Contingent Obligations Collateral --------------------------------- Account") for the benefit of the Secured Parties that have a claim with respect ------- to such Contingent Obligations. The Collateral Agent shall invest such amounts in Permitted Investments until the Representative of such Secured Parties applicable Administrative Agent or the applicable Unrepresented Holder, as the case may be, shall Administrative Agents notify the Collateral Agent in writing that any or all of the Contingent Obligations with respect to the Secured Parties represented by such Representative Administrative Agent or such Unrepresented HolderAdministrative Agents, as the case may be, have become fixed or liquidated (in which case such amounts up to the amount in the Contingent Obligations Collateral Account shall be delivered to such Representative Administrative Agent or Unrepresented HolderAdministrative Agents, as the case may be, to be applied pursuant to the applicable Secured InstrumentLoan Documents) or that all such Contingent Obligations have expired or cease to exist (in which case an any amount remaining in the Contingent Obligations Collateral Account in excess of the Contingent Obligations outstanding at such time shall be applied in accordance with the provisions of Section 5.02).

Treatment of Contingent Obligations. Notwithstanding ------------------------------------ the foregoing, distributions under clause clauses FIRST and SECOND of Section 5.02 5.02(a) or 5.02(b) shall be made disregarding any Contingent Obligations. If any Contingent Obligations exist at any time that any amounts are to be distributed to the Borrower under clause THIRD of Section 5.025.02(a) or 5.02(b), the Collateral Agent shall deposit such amounts up to an amount equal to such Contingent Obligations in a collateral account established and maintained at its office located at Xxx Xxxxxx XxXxxxxxxxx, 0xx Xxxxx, Xxxxxx, XX 00000-0000 specified in Section 5.01(a) (designated the "Contingent Obligations Collateral --------------------------------- AccountCONTINGENT OBLIGATIONS ACCOUNT") for the benefit of the Secured Parties of the relevant Class that have a claim with respect ------- to such Contingent Obligations. The Collateral Agent shall invest such amounts in Permitted Temporary Cash Investments (at the direction of the Company and at the risk of the Grantors) until the Representative of such Secured Parties or the applicable Unrepresented Holder, as the case may be, shall notify the Collateral Agent that any or all of the Contingent Obligations with respect to the Secured Parties represented by such Representative or to such Unrepresented Holder, as the case may be, have become fixed or liquidated (in which case such amounts up to the amount in the Contingent Obligations Collateral Account shall be delivered to such Representative or Unrepresented Holder, as the case may be, to be applied pursuant to the applicable Secured Instrument) or that such Contingent Obligations have expired or cease to exist (in which case an amount in the Contingent Obligations Collateral Account in excess of the Contingent Obligations outstanding at such time shall (a) if a Notice of Enforcement is in effect, be applied in accordance with the provisions of Section 5.025.02 or (b) if a Notice of Enforcement is not in effect, be released to the Grantor or Grantors entitled thereto).

Treatment of Contingent Obligations. Notwithstanding ------------------------------------ the foregoing, distributions under clause SECOND of Section 5.02 shall be made disregarding any Contingent Obligations. If any Contingent Obligations exist at any time that any amounts are to be distributed to the Borrower under clause THIRD of Section 5.02, the Collateral Agent shall deposit such amounts up to an amount equal to such Contingent Obligations in a collateral account established and maintained at its office located at Xxx Xxxxxx XxXxxxxxxxx, 0xx Xxxxx, Xxxxxx, XX 00000-0000 [ ] (designated the "Contingent Obligations Collateral --------------------------------- Account") for the benefit of the Secured Parties that have a claim with respect ------- to such Contingent Obligations. The Collateral Agent shall invest such amounts in Permitted Investments until the Representative of such Secured Parties or the applicable Unrepresented Holder, as the case may be, shall notify the Collateral Agent that any or all of the Contingent Obligations with respect to the Secured Parties represented by such Representative or such Unrepresented Holder, as the case may be, have become fixed or liquidated (in which case such amounts up to the amount in the Contingent Obligations Collateral Account shall be delivered to such Representative or Unrepresented Holder, as the case may be, to be applied pursuant to the applicable Secured Instrument) or that such Contingent Obligations have expired or cease to exist (in which case an amount in the Contingent Obligations Collateral Account in excess of the Contingent Obligations outstanding at such time shall be applied in accordance with the provisions of Section 5.02).

Treatment of Contingent Obligations. Notwithstanding ------------------------------------ the foregoing, distributions under clause SECOND of Section 5.02 shall be made disregarding any Contingent Obligations. If any Contingent Obligations exist at any time that any amounts are to be distributed to the Borrower under clause THIRD of Section 5.02, the Collateral Agent shall deposit such amounts up to an amount equal to such Contingent Obligations in a collateral account established and maintained at its office located at Xxx Xxxxxx XxXxxxxxxxx, 0xx Xxxxx, Xxxxxx, XX 00000-0000 (designated the "Contingent Obligations Collateral --------------------------------- Account") for the benefit of the Secured Parties that have a claim with respect ------- to such Contingent Obligations. The Collateral Agent shall invest such amounts in Permitted Investments until the Representative of such Secured Parties or the applicable Unrepresented Holder, as the case may be, shall notify the Collateral Agent that any or all of the Contingent Obligations with respect to the Secured Parties represented by such Representative or such Unrepresented Holder, as the case may be, have become fixed or liquidated (in which case such amounts up to the amount in the Contingent Obligations Collateral Account shall be delivered to such Representative or Unrepresented Holder, as the case may be, to be applied pursuant to the applicable Secured Instrument) or that such Contingent Obligations have expired or cease to exist (in which case an amount in the Contingent Obligations Collateral Account in excess of the Contingent Obligations outstanding at such time shall be applied in accordance with the provisions of Section 5.02).