Common use of Proceeds to be Turned Over To Collateral Agent Clause in Contracts

Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, cash equivalents, checks and other near-cash items shall be held by such Grantor in trust for the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request by the Collateral Agent, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such Grantor in trust for the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.2.

Appears in 4 contracts

Samples: Pledge and Security Agreement (Alpha Metallurgical Resources, Inc.), Asset Based Revolving Credit Agreement (Contura Energy, Inc.), Asset Based Revolving Credit Agreement (Contura Energy, Inc.)

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Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, cash equivalents, checks and other near-near cash items shall be held by such Grantor in trust for the Collateral Agent and the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request receipt by the Collateral Agentsuch Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed indorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such Grantor in trust for the Collateral Agent and the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.26.4.

Appears in 4 contracts

Samples: Intercreditor Agreement (First Wind Holdings Inc.), First Lien Guarantee and Security Agreement (First Wind Holdings Inc.), Credit Agreement (First Wind Holdings Inc.)

Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, cash equivalents, checks and other near-cash items shall be held by such Grantor in trust for the Collateral Agent and the other Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request receipt by the Collateral Agentsuch Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed indorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such Grantor in trust for the Collateral Agent and the other Secured Parties) shall continue to be held as collateral security for all the Secured Obligations and shall not constitute payment thereof until applied as provided in Section 5.25.3.

Appears in 2 contracts

Samples: Collateral Agreement (SPX Corp), Reimbursement Agreement (SPX Corp)

Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur All Proceeds (including all income and be continuing, all Proceeds payments) received by any the Grantor consisting of cash, cash equivalentschecks, checks notes, drafts, and other near-cash items of payment shall be held by such the Grantor in trust for the Secured PartiesCollateral Agent and the Lenders, segregated from other funds of such the Grantor, and shall, forthwith upon request if required by the Collateral Agent, forthwith upon receipt by the Grantor, be turned over to the Collateral Agent in the exact form received by such the Grantor (duly endorsed by such the Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be ) and held by the Collateral Agent in a Collateral Account maintained under its sole dominion by or on behalf of, and controlwith control by, the Collateral Agent. All Proceeds (including income and payments) while held by the Collateral Agent in a Collateral Account (or by such the Grantor in trust for the Secured PartiesCollateral Agent and the Lenders) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.2.

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Metris Companies Inc), Pledge Agreement (Metris Companies Inc)

Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, cash equivalents, checks and other near-near- cash items shall be held by such Grantor in trust for the Collateral Agent and the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request receipt by the Collateral Agentsuch Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed indorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such Grantor in trust for the Collateral Agent and the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.25.3.

Appears in 1 contract

Samples: Pledge and Collateral Agency Agreement (Interactive Brokers Group, Inc.)

Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any the Grantor consisting of cash, cash equivalents, checks and other near-cash items shall be held by such the Grantor in trust for the Secured Parties, segregated from other funds of such the Grantor, and shall, forthwith upon request receipt by the Collateral AgentGrantor, be turned over to the Collateral Agent in the exact form received by such the Grantor (duly endorsed by such the Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such the Grantor in trust for the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.25.3.

Appears in 1 contract

Samples: Security Agreement (Cheniere Energy Inc)

Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, cash equivalents, checks and other near-cash items Instruments shall be held by such Grantor in trust for the Collateral Agent and the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request receipt by the Collateral Agentsuch Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed indorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account collateral account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account collateral account (or by such Grantor in trust for the Collateral Agent and the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.25.03.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Hawaiian Telcom Holdco, Inc.)

Proceeds to be Turned Over To Collateral Agent. If In addition to the rights of the Collateral Agent specified in Section 5.1 with respect to payments of Receivables, if an Event of Default shall occur have occurred and be continuingcontinuing and the Collateral Agent shall so notify the Grantor in question all collections on such Receivables shall forthwith (and in any event within two (2) Business Days), all Proceeds received by any Grantor consisting of cash, cash equivalents, checks and other near-cash items shall be held upon receipt by such Grantor in trust for the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request by the Collateral Agent, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds Proceeds, while held by the Collateral Agent in a Collateral Account (or by such Grantor in trust for the benefit of the Secured Parties) ), shall continue to be held as collateral security Collateral for all the Secured Obligations and shall not constitute payment thereof until applied as provided in Section 5.25.5.

Appears in 1 contract

Samples: Security Agreement (Adma Biologics, Inc.)

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Proceeds to be Turned Over To Collateral Agent. If In addition to the rights of the Collateral Agent and the other Secured Parties specified in Section 6.1 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, cash equivalents, checks and other near-cash items shall be held by such Grantor in trust for the Collateral Agent and the other Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request receipt by the Collateral Agentsuch Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed indorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such Grantor in trust for the Collateral Agent and the other Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.26.5.

Appears in 1 contract

Samples: Pledge and Security Agreement (NBC Acquisition Corp)

Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, cash equivalents, checks and other near-cash items shall be held by such Grantor in trust for the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request by the Collateral Agent, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such Grantor in trust for the Secured Parties) shall continue to be held as collateral security for all the Secured Obligations and shall not constitute payment thereof until applied as provided in Section 5.2.

Appears in 1 contract

Samples: Control Agreement (Contura Energy, Inc.)

Proceeds to be Turned Over To Collateral Agent. If an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, cash equivalentsCash Equivalents, checks and other near-cash items shall be held by such Grantor in trust for the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon request receipt by the Collateral Agentsuch Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder or under the Indenture shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent in a Collateral Account (or by such Grantor in trust for the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in under the Indenture or under Section 5.25.2 hereof.

Appears in 1 contract

Samples: Security Agreement (Elizabeth Arden Inc)

Proceeds to be Turned Over To Collateral Agent. If In addition to the rights of the Secured Parties specified in Section 6.1 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Cash Proceeds received by any the Grantor consisting of cash, cash equivalents, checks and other near-cash items shall be held by such the Grantor in trust for the Secured Parties, segregated from other funds of such the Grantor, and shall, forthwith upon request by receipt by. the Collateral AgentGrantor, be turned over to the Collateral Agent in the exact form received by such the Grantor (duly endorsed indorsed by such the Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its sole dominion and controlcontrol (within the meaning of Section 9-105 or Section 9-106 of the New York UCC). All Proceeds while held by the Collateral Agent in such a Collateral Account (or by such the Grantor in trust for the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.26.5.

Appears in 1 contract

Samples: Patent Security Agreement (Virgin Mobile USA, Inc.)

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