Common use of Payments Held for the Benefit of Rockpoint Preferred Holders Clause in Contracts

Payments Held for the Benefit of Rockpoint Preferred Holders. Notwithstanding anything to the contrary contained in this Agreement, in the event that Responsible Party should receive any funds, payments, claims and/or distributions which are prohibited by this Agreement, Responsible Party agrees to hold for the benefit of the Rockpoint Preferred Holders an amount equal to the amount of all funds, payments, claims and/or distributions so received, and agrees that it shall have absolutely no dominion over the amount of such funds, payments, claims and/or distributions so received except to pay such funds, payments, claims and/or distributions promptly to the Rockpoint Preferred Holders, and Responsible Party covenants promptly to pay the same to the Rockpoint Preferred Holders.

Payments Held for the Benefit of Rockpoint Preferred Holders. Notwithstanding anything to the contrary contained in this Agreement, in the event that a Responsible Party should receive any funds, payments, claims and/or distributions which are prohibited by this Agreement, such Responsible Party agrees to hold for the benefit of the Rockpoint Preferred Holders an amount equal to the amount of all funds, payments, claims and/or distributions so received, and agrees that it shall have absolutely no dominion over the amount of such funds, payments, claims and/or distributions so received except to pay such funds, payments, claims and/or distributions promptly to the Rockpoint Preferred Holders, and such Responsible Party covenants promptly to pay the same to the Rockpoint Preferred Holders.