Grantor’s Covenant Sample Clauses

Grantor’s Covenant. If, upon receipt of the notice specified in Clause 7.1 (Enforcement) and before the Security Trustee exercises any of its rights in Clause 7.1 (Enforcement), either Grantor receives monies from any party in respect of the Assigned Property, such Grantor shall promptly pay to or to the order of the Security Trustee all such monies received in accordance with the provisions of this Agreement and the Credit Agreement. For the avoidance of doubt, each Grantor shall hold all such monies on trust for the Security Trustee (who shall receive such monies as it directs) until the payment of such monies is effected.