TREATMENT OF FUNDS. To the extent Agent receives any funds either from the Debtors directly on account of the Indebtedness or as proceeds of Collateral, Agent shall retain such funds in trust for the benefit of the Creditors and shall immediately remit the same to the Creditors in proportion to the principal amount of Debentures then held by the Creditors.
Appears in 2 contracts
Samples: Security Agreement (Creatd, Inc.), Security Agreement (Anpath Group, Inc.)
TREATMENT OF FUNDS. To the extent Agent receives any funds either from the Debtors directly on account of the Indebtedness or as proceeds of Collateral, Agent shall retain such funds in trust for the benefit of the Creditors and shall immediately remit the same to the Creditors in proportion to the principal amount of Debentures Notes then held by the Creditors.
Appears in 1 contract
TREATMENT OF FUNDS. To the extent Agent receives any funds either from the Debtors directly on account of the Indebtedness Secured Obligations or as proceeds of Collateral, Agent shall retain such funds in trust for the benefit of the Creditors and shall immediately remit the same to the Creditors in proportion to the principal amount of Debentures then held by the Creditors.
Appears in 1 contract
Samples: Pledge and Security Agreement (Nauticus Robotics, Inc.)
