Common use of Constructive Trust Clause in Contracts

Constructive Trust. Landlord covenants that all sums paid by Tenant to Landlord and intended for payment by Landlord to a third party (such as, by way of example, taxes and certain elements of CAM Charges) are given to Landlord in trust and shall be applied only for such third-party payments, as and when due or to reimburse Landlord for payment of same.

Constructive Trust. Landlord covenants that all sums paid ------------------ by Tenant to Landlord and intended for payment by Landlord to a third party (such as, by way of example, taxes e.g. Real Estate Taxes and certain elements of CAM Charges) are given to Landlord in trust and shall be applied only for such third-party payments, as and when due or to reimburse Landlord for payment of samedue.