Wrongful Collections. Should any payment on account of, or any -------------------- collateral for any part of, the Subordinated O&M Fees be received by Junior Claimant in violation of this Agreement, such payment or collateral shall be delivered forthwith to Collateral Agent on behalf of the Senior Claimants by the recipient for application to Senior Claims, in the form received. Collateral Agent is irrevocably authorized to supply any required endorsement or assignment which may have been omitted. Until so delivered, any such payment or collateral shall be held by the recipient in trust for the Senior Claimants and shall not be commingled with other funds or property of the recipient.
Appears in 6 contracts
Samples: Subordination Agreement (Coso Power Developers), Subordination Agreement (Coso Power Developers), Subordination Agreement (Coso Power Developers)
Wrongful Collections. Should any payment on account of, or any -------------------- collateral for any part of, the Subordinated O&M Management Fees be received by Junior Claimant in violation of this Agreement, such payment or collateral shall be delivered forthwith to Collateral Agent on behalf of the Senior Claimants by the recipient for application to Senior Claims, in the form received. Collateral Agent is irrevocably authorized to supply any required endorsement or assignment which may have been omitted. Until so delivered, any such payment or collateral shall be held by the recipient in trust for the Senior Claimants and shall not be commingled with other funds or property of the recipient.
Appears in 3 contracts
Samples: Management Fee Subordination Agreement (Coso Power Developers), Management Fee Subordination Agreement (Coso Power Developers), Management Fee Subordination Agreement (Coso Power Developers)
Wrongful Collections. Should any payment on account of, or any -------------------- collateral for any part of, the Subordinated O&M Fees Costs be received by Junior Claimant in violation of this Agreement, such payment or collateral shall be delivered forthwith to Collateral Administrative Agent on behalf of the Senior Claimants by the recipient for application to Senior Claims, in the form received. Collateral Administrative Agent is irrevocably authorized to supply any required endorsement or assignment which may have been omitted. Until so delivered, any such payment or collateral shall be held by the recipient in trust for the Senior Claimants and shall not be commingled with other funds or property of the recipient.
Appears in 2 contracts
Samples: Subordination Agreement (Calpine Corp), Security Agreement (Calpine Corp)
Wrongful Collections. Should any payment on account of, or any -------------------- collateral for any part of, the Subordinated O&M Fees Amounts be received by Junior Claimant in violation of this Agreement, such payment or collateral shall be delivered by Junior Claimant forthwith to Collateral Agent Administrative Agent, on behalf of the Senior Claimants by the recipient Claimants, for application to Senior Claims, in the form received. Collateral Administrative Agent is irrevocably authorized to supply any required endorsement or assignment which may have been omitted. Until so delivered, any such payment or collateral shall be held by the recipient Junior Claimant in trust for the Senior Claimants and shall not be commingled with other funds or property of the recipientJunior Claimant.
Appears in 1 contract
