Common use of When a Distribution Must Be Paid Over Clause in Contracts

When a Distribution Must Be Paid Over. If a distribution is made to Securityholders that because of the provisions of Article 10 should not have been made to them, the Securityholders who receive the distribution shall hold it in trust for holders of Senior Indebtedness and pay it over to them as their interests may appear.

When a Distribution Must Be Paid Over. If a payment or distribution is made to Securityholders or the Trustee as Paying Agent that because of the provisions of Article 10 should not have been made to them, the Securityholders or other such Person who receive receives the payment or distribution shall hold it in trust for holders of Senior Indebtedness and pay it over to them as their interests may appear.