Common use of Return of Payments Clause in Contracts

Return of Payments. (a) In the event that, after the Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall return such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 2 contracts

Samples: Consent and Appointment Agreement (Pinnacle Entertainment Inc), Credit Agreement (Pinnacle Entertainment Inc)

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Return of Payments. (a) In the event that, after the Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall promptly return without setoff or counterclaim such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (Syneos Health, Inc.)

Return of Payments. (a) In the event that, after the First Amendment Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall return such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Credit Agreement and Resignation and Appointment Agreement (B&G Foods, Inc.)

Return of Payments. (a) In the event that, after the Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or Lender, the Successor Agent or any Loan Party under the Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall return promptly deliver such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Assignment and Assumption (Cinemark Holdings, Inc.)

Return of Payments. (a) In the event that, after the Effective DateTime, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the any Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall promptly return without setoff or counterclaim such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Lease Agreement (Cit Group Inc)

Return of Payments. (a) In the event that, after the Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall return such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Consent and Appointment Agreement (National CineMedia, Inc.)

Return of Payments. (a) In the event that, after the Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall return forward such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Successor Agent Agreement (Encana Corp)

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Return of Payments. (a) In the event that, after the Amendment No. 1 Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall promptly return without setoff or counterclaim such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (Hilton Grand Vacations Inc.)

Return of Payments. (a) 1. In the event that, after the Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the Credit Agreement or any other Loan Credit Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall return such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Contribution Agreement (Valeant Pharmaceuticals International, Inc.)

Return of Payments. (a) In the event that, after the Second Amendment Effective Date, the Existing Agent receives any principal, interest or other amount owing to any Lender or the Successor Agent under the Credit Agreement or any other Loan Document, the Existing Agent agrees that such payment shall be held in trust for the Successor Agent, and the Existing Agent shall return such payment promptly to the Successor Agent for payment to the Person entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (Shoreline Real Estate Partnership, LLP)

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