Agreement to Hold In Trust. If the Subordinated Lender shall receive any payment on account of the Subordinated Indebtedness in violation of this Agreement, it shall hold such payment in trust for the benefit of the Lenders and, promptly upon discovery or notice of such violation, pay it over to the Lenders for application in payment of the Senior Indebtedness.
Agreement to Hold In Trust. All payments received directly by any Borrower that are required to be deposited into the Project Accounts in accordance with the terms of this Agreement or any other Financing Document shall be held by such Borrower in trust for the Collateral Agent, on behalf and for the benefit of the Senior Secured Parties, shall be segregated from other funds of such Borrower and shall, forthwith upon receipt by such Borrower, be turned over to the Collateral Agent or its designee in the same form as received by such Borrower (duly endorsed by such Borrower to the Collateral Agent or the Accounts Bank, if requested) for deposit and disbursement in accordance with this Agreement.
Agreement to Hold In Trust. If Creditor or Lender shall receive any payment on account of proceeds of sale or other disposition of collateral with respect to which the other holds a superior interest and right pursuant to the terms of this Agreement, then it shall hold such payment in trust for the benefit of the other and promptly upon discovery or notice of such violation of the terms hereof, pay it over to the other for application in payment of Obligations to Lender or Obligations to Creditor, as the case may be. As set forth in Lender’s Documents, on and after the date hereof and until such time as all of the Obligations to Creditor have been indefeasibly paid in full in cash, and performed in favor of Creditor, and Creditor’s Documents have been terminated, Borrower is required to direct all account debtors relating to Creditor’s Senior Collateral to direct payments to Creditor.
Agreement to Hold In Trust. All payments received directly by the Borrower that are required to be deposited into the Project Accounts in accordance with the terms of this Accounts Agreement, the Credit Agreement, or any other Financing Document (including any amount received by the Borrower pursuant to, or in connection with, any Project Document or any sale of Products) shall be held by the Borrower in trust for the Collateral Agent, on behalf and for the benefit of the Senior Secured Parties, shall be segregated from other funds of the Borrower and shall, forthwith upon receipt by the Borrower, be turned over to the Collateral Agent or its designee in the same form as received by the Borrower (duly endorsed by the Borrower to the Collateral Agent or the Accounts Bank, if requested) for deposit and disbursement in accordance with this Accounts Agreement.
Agreement to Hold In Trust. All payments received directly by any Borrower that are required to be deposited into the Project Accounts in accordance with the terms of this Agreement or any other Financing Document shall be held by such Borrower in trust for (x) the Collateral Agent, on behalf and for the benefit of the Senior Secured Parties and (y) the Senior Collateral Agent, on behalf of and for the benefit of the Priority Senior Secured Parties, and shall be segregated from other funds of such Borrower and shall, forthwith upon receipt by such Borrower, be turned over to the Senior Collateral Agent or the Collateral Agent, as applicable or its designee in the same form as received by such Borrower (duly endorsed by such Borrower to the Senior Collateral Agent or the Collateral Agent, as applicable or the Accounts Bank, if requested) for deposit and disbursement in accordance with this Agreement, the Senior Credit Agreement and the Intercreditor Agreement.
Agreement to Hold In Trust. If any holder of Subordinated Indebtedness shall receive any payment on account of the Subordinated Indebtedness or property of any Loan Party in violation of this Agreement, it shall hold such payment or property, as applicable, in trust for the benefit of Senior Lender and, promptly upon discovery or notice of such violation, pay or deliver it over to Senior Lender for application in payment of the Senior Indebtedness or to hold as Collateral for the Senior Indebtedness, as applicable.
Agreement to Hold In Trust. All payments received directly by the Borrower that are required to be deposited into the Project Accounts in accordance with the terms of this Agreement, the Credit Agreement, or any other Financing Document (including any amount received by the Borrower pursuant to, or in connection with, any Project Document or any sale of assets) shall be held by the Borrower in trust for the Lender, shall be segregated from other funds of the Borrower and shall, forthwith upon receipt by the Borrower, be turned over to the Lender or its designee in the same form as received by the Borrower (duly endorsed by the Borrower to the Lender or the Accounts Bank, if requested by the Lender) for deposit and disbursement in accordance with this Agreement.
Agreement to Hold In Trust. In addition to the Property pledged and granted to the Trustee pursuant to Section 2.1 hereof, to secure the payment and performance by the Obligors of the Secured Obligations, and in consideration of the premises and of the covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Trustee does hereby declare that it holds as Trustee for the ratable benefit of the Secured Parties under this Agreement, all of the right, title and interest of the Trustee (other than rights of the Trustee to payment, reimbursement and indemnification for its own account) in, to and under the following:
Agreement to Hold In Trust. If the Subordinated Creditor shall receive any payment or distribution of assets of the Borrower or any Obligor of any kind or character, whether in cash, property or securities, or by set-off or otherwise, on account of the Subordinated Obligations which payment or distribution is required by the terms hereof to be made to Lender or is otherwise in violation of the terms of this Agreement, it shall hold such payment or distribution in trust for the benefit of the Lender and shall immediately pay or transfer the same over to the Lender for application in payment of the Senior Obligations.
Agreement to Hold In Trust. As of the Closing Date, either the Borrower or NAFI will have caused to be executed by all necessary parties the Irrevocable Instruction Letter and this Agreement, which are referred to herein collectively as the "Transaction Payment Documents". To the extent that, notwithstanding the Transaction Payment Documents, the Borrower or NAFI receives any amounts which should, in accordance with the Transaction Payment Documents, have been sent to either the Lender or its designee, the Borrower or NAFI will hold the same in trust for the Lender immediately upon receipt thereof, and forthwith deliver the same to the Lender in the form received, together with the Borrower's or NAFI's (as the case may be) endorsement thereon where necessary to permit collection thereof.
