Common use of Turnover of Cash Collateral After Payment Clause in Contracts

Turnover of Cash Collateral After Payment. Upon the Discharge of the Loan Agreement Secured Obligations, the Lender shall deliver to the Collateral Agent or execute such documents as the Collateral Agent may reasonably request to cause the Collateral Agent to have control over any Cash Collateral or Control Collateral still in Lender's possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent to the Indenture Secured Obligations. Proceeds of any exercise by the Lender or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Collateral or Proceeds, shall be (a) until the Discharge of the Loan Agreement Secured Obligations, retained by the Lender or promptly turned over by the Collateral Agent, the Trustee, or any Noteholder, as the case may be, to the Lender in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Agreement Secured Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent or promptly turned over by the Lender to the Collateral Agent in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations outstanding to the Lender under the Lender Loan Documents in excess of the Maximum Priority Debt Amount after the payment in full in cash of all Indenture Secured Obligations, shall be retained by the Lender or promptly turned over by the Collateral Agent to the Lender in the same form as received, with any necessary endorsements.

Appears in 2 contracts

Samples: Intercreditor Agreement (Empire Resorts Inc), Subordination Agreement (Mortons Restaurant Group Inc)

AutoNDA by SimpleDocs

Turnover of Cash Collateral After Payment. Upon the Discharge of the Loan Agreement Secured Obligations, the Lender shall Agent shall, if any Indenture Secured Obligations are outstanding, deliver to the Collateral Agent Trustee or execute such documents as the Collateral Agent Trustee may reasonably request to cause the Collateral Agent Trustee to have control over any Cash Collateral or Control Collateral still in Lender's Agent’s possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent Trustee to the Indenture Secured Obligations. Proceeds of any exercise by the Lender Agent or the Collateral AgentTrustee, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Collateral or Proceeds, shall be (a) until the Discharge of the Loan Agreement Secured Obligations, retained by the Lender Agent or promptly turned over by the Collateral Agent, the Trustee, Trustee or any Noteholder, as the case may be, to the Lender Agent in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Agreement Secured Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent Trustee or promptly turned over by the Lender Agent to the Collateral Agent Trustee in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations outstanding to the Lender Agent under the Lender Loan Documents in excess of the Maximum Priority Debt Amount after the payment in full in cash of all Indenture Secured Obligations, shall be retained by the Lender Agent or promptly turned over by the Collateral Agent Trustee to the Lender Agent in the same form as received, with any necessary endorsements.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (Majestic Holdco, LLC)

Turnover of Cash Collateral After Payment. All Control Collateral shall be delivered to the Agent or its designee and all Cash Collateral shall be under the control of the Agent. Upon the Discharge of the Loan Agreement Secured Obligations, the Lender Agent shall deliver to the Collateral Agent or execute such documents as the Collateral Agent may reasonably request to cause the Collateral Agent to have control over any Cash Collateral or Control Collateral still in Lender's Agent’s possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent to the Indenture Secured Obligations. The Remedies Proceeds of from any exercise by the Lender Agent or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Collateral or Proceeds, shall be (a) until the Discharge of the Loan Agreement Secured Obligations, retained by the Lender Agent or promptly turned over by the Collateral Agent, the Trustee, or any Noteholder, as the case may be, to the Lender Agent in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Agreement Secured Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent or promptly turned over by the Lender Agent or any Lender, as the case may be, to the Collateral Agent in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations outstanding to the Lender Agent under the Lender Loan Documents in excess of the Maximum Lender Priority Debt Amount after the payment in full in cash of all the obligations under the Indenture and the termination of the Indenture Secured Obligations, shall be retained by the Lender Agent or promptly turned over by the Collateral Agent to the Lender Agent in the same form as received, with any necessary endorsements.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (GNLV Corp)

Turnover of Cash Collateral After Payment. Upon the Discharge of the Loan Credit Agreement Secured Obligations, the Lender Senior Agent shall deliver to the Collateral Agent or execute such documents as the Collateral Agent may reasonably request to cause the Collateral Agent to have control over any Cash Collateral or Control Collateral still in Lender's Senior Agent’s or its designee’s possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent to the Indenture Secured Obligations. Proceeds of any exercise by the Lender Senior Agent or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Collateral or Proceeds, shall be (a) until the Discharge of the Loan Credit Agreement Secured Obligations, retained by the Lender Senior Agent or promptly turned over by the Collateral Agent, the Trustee, or any Noteholder, as the case may be, to the Lender Senior Agent in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Credit Agreement Secured Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent or promptly turned over by the Lender Senior Agent to the Collateral Agent in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations outstanding to the Lender Senior Agent under the Lender Senior Loan Documents in excess of the Maximum Priority Debt Amount after the payment in full in cash of all Indenture Secured Obligations, shall be retained by the Lender Senior Agent or promptly turned over by the Collateral Agent to the Lender Senior Agent in the same form as received, with any necessary endorsements.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (Boston Gear LLC)

Turnover of Cash Collateral After Payment. Upon the Discharge of the Loan Agreement Secured Obligations, the Lender Agent shall deliver to the Collateral Agent Trustee or execute such documents as the Collateral Agent Trustee may reasonably request to cause the Collateral Agent Trustee to have control over any Cash Collateral or Control Collateral still in LenderAgent's possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent Trustee to the Indenture Secured Obligations. Proceeds of any exercise by the Lender Agent or the Collateral AgentTrustee, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Collateral or Proceeds, shall be (a) until the Discharge of the Loan Agreement Secured Obligations, retained by the Lender Agent or promptly turned over by the Collateral Agent, the Trustee, Trustee or any Noteholder, as the case may be, to the Lender Agent in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Agreement Secured Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent Trustee or promptly turned over by the Lender Agent to the Collateral Agent Trustee in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations outstanding to the Lender Agent under the Lender Loan Documents in excess of the Maximum Priority Debt Amount after the payment in full in cash of all Indenture Secured Obligations, shall be retained by the Lender Agent or promptly turned over by the Collateral Agent Trustee to the Lender Agent in the same form as received, with any necessary endorsements.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (Majestic Star Casino LLC)

Turnover of Cash Collateral After Payment. Upon the Discharge of the Loan Agreement Secured Obligations, the Lender shall deliver to the Collateral Agent or execute such documents as the Collateral Agent may reasonably request to cause the Collateral Agent to have control over any Cash Collateral or Control Collateral still in Lender's possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent to the Indenture Secured ObligationsObligations in the manner prescribed by the Indenture. Proceeds of from any exercise by the Lender or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Collateral or Proceeds, shall be (a) until the Discharge of the Loan Agreement Secured Obligations, retained by the Lender or promptly turned over by the Collateral Agent, the Trustee, or any Noteholder, as the case may be, to the Lender in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Agreement Secured Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent or promptly turned over by the Lender to the Collateral Agent in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations Loan Agreement Secured Obligations outstanding to the Lender under the Lender Loan Documents in excess of the Maximum Lender Priority Debt Amount after the payment in full in cash of all Indenture Secured Obligations, it shall be retained by the Lender or promptly turned over by the Collateral Agent to the Lender in the same form as received, with any necessary endorsements.

Appears in 1 contract

Samples: Subordination Agreement (Phibro Animal Health Corp)

AutoNDA by SimpleDocs

Turnover of Cash Collateral After Payment. Upon the Discharge of the Loan Agreement Secured Obligations, the Lender Agent shall deliver to the Collateral Agent or execute such documents as the Collateral Agent may reasonably request to cause the Collateral Agent to have control over any Cash Collateral or Control Collateral still in Lender's Agent’s possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent to the Indenture Secured Obligations. In the event that the Indenture Secured Obligations are paid in full and the Loan Agreement Secured Obligations have not been, the Collateral Agent shall deliver to the Agent or execute such documents as the Agent may reasonably request to cause the Agent to have control over any Cash Collateral or Control Collateral still in Collateral Agent’s possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Agent to the Loan Agreement Secured Obligations. Proceeds of any exercise by the Lender Agent or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Lender Priority Collateral or ProceedsProceeds thereof, shall be (a) until the Discharge of the Loan Agreement Secured Obligations, retained by the Lender Agent or promptly turned over by the Collateral Agent, the Trustee, or any Noteholder, as the case may be, to the Lender Agent in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Agreement Secured Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent or promptly turned over by the Lender Agent to the Collateral Agent in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations Loan Agreement Priority Obligations outstanding to the Lender Agent or the Lenders under the Lender Loan Documents in excess of the Maximum Priority Debt Amount after the payment in full in cash of all Indenture Secured Obligations, shall be retained by the Lender Agent or promptly turned over by the Collateral Agent to the Lender Agent in the same form as received, with any necessary endorsements. Proceeds of any exercise by the Agent or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Indenture Priority Collateral or Proceeds thereof, shall be (a) until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent or promptly turned over by the Agent to the Collateral Agent in the same form as received, with any necessary endorsements for application to the repayment of the Indenture Secured Obligations, and (b) thereafter, retained by the Agent or promptly turned over by the Collateral Agent to the Agent in the same form as received, with any necessary endorsements for application to the repayment of the Loan Agreement Secured Obligations.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (155 East Tropicana, LLC)

Turnover of Cash Collateral After Payment. Upon the Discharge of the Loan Agreement Secured Priority Obligations, the Lender Agent shall deliver to the Collateral Agent or execute such documents as the Collateral Agent may reasonably request to cause the Collateral Agent to have control over any Cash Collateral or Control Collateral still in Lender's Agent’s possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent to the Indenture Secured Obligations. Proceeds of any exercise by the Lender Agent or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Collateral or Proceeds, shall be (a) until the Discharge of the Loan Agreement Secured Priority Obligations, retained by the Lender Agent or promptly turned over by the Collateral Agent, the Trustee, or any Noteholder, as the case may be, to the Lender Agent in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Agreement Secured Priority Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent or promptly turned over by the Lender Agent to the Collateral Agent in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations outstanding to the Lender Agent under the Lender Loan Documents in excess of the Maximum Priority Debt Amount after the payment in full in cash of all Indenture Secured Obligations, shall be retained by the Lender Agent or promptly turned over by the Collateral Agent to the Lender Agent in the same form as received, with any necessary endorsements.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (Oasis Interval Ownership, LLC)

Turnover of Cash Collateral After Payment. Upon the Discharge of the Loan Credit Agreement Secured Obligations, the Lender Senior Agent shall deliver to the Collateral Agent or execute such documents as the Collateral Agent may reasonably request to cause the Collateral Agent to have control over any Cash Collateral or Control Collateral still in LenderSenior Agent's or its designee's possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied by the Collateral Agent to the Indenture Secured Obligations. Upon the Discharge of the XX Xxxx'x Credit Agreement Secured Obligations, the XX Xxxx'x Agent shall deliver to the Senior Agent or execute such documents as the Senior Agent may reasonably request to cause the Senior Agent to have control over any Cash Collateral or Control Collateral still in XX Xxxx'x Agent's or its designee's possession, custody or control in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct, to be applied in accordance with the terms hereof. Proceeds of any exercise by the Lender Senior Agent or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any Collateral (other than XX Xxxx'x Collateral until the Discharge of XX Xxxx'x Credit Agreement Secured Obligations) or Proceeds, shall be (a) until the Discharge of the Loan Credit Agreement Secured Obligations, retained by the Lender Senior Agent or promptly turned over by the Collateral Agent, the Trustee, or any Noteholder, as the case may be, to the Lender Senior Agent in the same form as received, with any necessary endorsements, (b) after the Discharge of the Loan Credit Agreement Secured Obligations and until all Indenture Secured Obligations have been paid in full in cash, retained by the Collateral Agent or promptly turned over by the Lender Senior Agent to the Collateral Agent in the same form as received, with any necessary endorsements, and (c) if there are any amounts still due or any obligations outstanding to the Lender Senior Agent under the Lender Senior Loan Documents in excess of the Maximum Priority Debt Amount after the payment in full in cash of all Indenture Secured Obligations, shall be retained by the Lender Senior Agent or promptly turned over by the Collateral Agent to the Lender Senior Agent in the same form as received, with any necessary endorsements. Until the Discharge of XX Xxxx'x Credit Agreement Secured Obligations, proceeds of any exercise by the XX Xxxx'x Agent, Senior Agent or the Collateral Agent, as applicable, of any of their respective secured creditor rights or remedies under any of the Loan Documents, under applicable law, or otherwise with respect to any XX Xxxx'x Collateral or Proceeds thereof, shall be (a) retained by the XX Xxxx'x Agent or promptly turned over by the Senior Agent, Senior Lenders, Collateral Agent, the Trustee, or any Noteholder, as the case may be, to the XX Xxxx'x Agent in the same form as received, with any necessary endorsements.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (TB Wood's INC)

Time is Money Join Law Insider Premium to draft better contracts faster.