Common use of Compensation Payments Clause in Contracts

Compensation Payments. If any moneys become payable to a Chargor during the subsistence of the Debenture by way of compensation under the provisions of Section 25 of the Law of Property ▇▇▇ ▇▇▇▇ or under the Landlord and Tenant Acts 1927 to 1954 or otherwise, such moneys shall, on or after the occurrence of an Enforcement Event, unless the Collateral Agent otherwise agrees in writing (but so that the Collateral Agent shall not be obliged so to agree), be held, applied, paid or released by the Collateral Agent in accordance with the Indenture; and: (a) the Collateral Agent shall be entitled and is hereby irrevocably authorised by a Chargor and appointed the Chargor attorney to give a good receipt on behalf of the Company for such moneys; and (b) if any such moneys shall actually be received by a Chargor, a Chargor shall hold such moneys upon trust for the Collateral Agent pending payment to the Collateral Agent.