Common use of Turnover of Payments Clause in Contracts

Turnover of Payments. In the event that any Purchaser receives a payment from the Company in violation of the terms of this Article 8, such Purchaser (a) shall hold such money in trust for the benefit of the holders of Senior Debt, and (b) shall, upon request of the holders of Senior Debt, forthwith remit an amount equal to such payment to such holders, or the payment in the exact form received (but with any necessary endorsement to such holders without recourse). After any Purchaser has received notice that a payment has been made to such Purchaser in violation of the terms of this Article 8, such Purchaser shall segregate such payment from (and shall not commingle such payment with any of) the other funds of such Purchaser.

Turnover of Payments. In the event that any the Purchaser receives a payment from the Company in violation of the terms of this Article 89, such the Purchaser (a) shall hold such money in trust for the benefit of the holders of Senior Debt, and (b) shall, upon request of the holders of Senior Debt, forthwith remit an amount equal to such payment to such holders, or the payment in the exact form received (but with any necessary endorsement to such holders without recourse). After any the Purchaser has received notice that a payment has been made to such the Purchaser in violation of the terms of this Article 89, such the Purchaser shall segregate such payment from (and shall not commingle such payment with any of) the other funds of such the Purchaser.

Turnover of Payments. In the event that any the Purchaser receives a payment from the Company in violation of the terms of this Article 8, such the Purchaser (a) shall hold such money in trust for the benefit of the holders of Senior Debt, and (b) shall, upon request of the holders of Senior Debt, forthwith remit an amount equal to such payment to such holders, or the payment in the exact form received (but with any necessary endorsement to such holders without recourse). After any the Purchaser has received notice that a payment has been made to such the Purchaser in violation of the terms of this Article 8, such the Purchaser shall segregate such payment from (and shall not commingle such payment with any of) the other funds of such the Purchaser.