Common use of TURNOVER OF PAYMENTS AND DISTRIBUTIONS Clause in Contracts

TURNOVER OF PAYMENTS AND DISTRIBUTIONS. The Holders of Guaranteed Obligations (including Post-Petition Interest and Expense Claims) shall be entitled to receive, for application to the payment thereof, all payments and distributions of any kind or character, whether in cash, property or securities or otherwise (including any such payment or distribution which may be payable or deliverable by reason of the payment of any other debt or liability of the Borrower or any Subsidiary of the Borrower or any Guarantor being subordinated to the payment of the Subordinated Liabilities), which may be payable or deliverable in respect of the Subordinated Liabilities in any such case or proceeding.

TURNOVER OF PAYMENTS AND DISTRIBUTIONS. The Holders of Guaranteed Obligations (including Post-Petition Interest and Expense Claims) shall be entitled to receive, for application to the payment thereof, all payments and distributions of any kind or character, whether in cash, property or securities or otherwise (including any such payment or distribution which may be payable or deliverable by reason of the payment of any other debt or liability of the Borrower or any Borrower Subsidiary of the Borrower or any Guarantor being subordinated to the payment of the Subordinated Liabilities), which may be payable or deliverable in respect of the Subordinated Liabilities in any such case or proceeding.

TURNOVER OF PAYMENTS AND DISTRIBUTIONS. The Holders of Guaranteed Obligations (including Post-Petition Interest and Expense Claims) and other Beneficiaries shall be entitled to receive, for application to the payment thereof, all payments and distributions of any kind or character, whether in cash, property or securities or otherwise (including any such payment or distribution which may be payable or deliverable by reason of the payment of any other debt or liability of the Borrower any Loan Party or any other Subsidiary of the Borrower or any the Guarantor being subordinated to the payment of the Subordinated Liabilities), which may be payable or deliverable in respect of the Subordinated Liabilities in any such case or proceeding.