Common use of Turnover of Collateral Clause in Contracts

Turnover of Collateral. If any Creditor acquires custody, control or possession of any Collateral or any proceeds thereof other than pursuant to the terms of this Agreement, such Creditor shall promptly cause such Collateral or the proceeds of such Collateral to be delivered to or put in the custody, possession or control of the Collateral Agent for disposition and distribution in accordance with the provisions of Section 5 of this Agreement. Until such time as such Creditor shall have complied with the provisions of the immediately preceding sentence, such Creditor shall be deemed to hold such Collateral and the proceeds thereof in trust for the parties entitled thereto under this Agreement.

Turnover of Collateral. If any Secured Creditor acquires custody, control or possession of any Collateral or any proceeds thereof other than pursuant to in compliance with the terms of this Agreement, such Secured Creditor shall promptly cause such Collateral or the proceeds of such Collateral thereof to be delivered to or put in the custody, possession or control of the Collateral Agent to be held as Collateral or for disposition and distribution in accordance with the provisions of Section 5 of this Agreement. Until such time as such Secured Creditor shall have complied with the provisions of the immediately preceding sentence, such Secured Creditor shall be deemed to hold such Collateral and the proceeds thereof in trust for the parties Secured Creditors entitled thereto under this Agreement.