Common use of TRUST OF MONEYS Clause in Contracts

TRUST OF MONEYS. 3.1 Notwithstanding the sales effected by this Agreement (or by any Scottish Declaration of Trust made pursuant hereto), if at, or at any other time after, the relevant Assignment Date (but prior to any repurchase in accordance with Clause 6) the Seller holds, or there is held to its order, or it receives, or there is received to its order any property, interests, rights or benefits and/or the proceeds thereof hereby agreed to be sold, the Seller undertakes to each of the LLP and the Security Trustee that, subject to Clause 4, it will promptly remit, assign and/or transfer the same to the LLP or, if appropriate, the Security Trustee or as either of them shall direct and until it does so or to the extent that the Seller is unable to effect such remittance, assignment, assignation or transfer, it will hold such property, interests, rights or benefits and/or the proceeds thereof upon trust for the LLP.