Common use of Authorization of Receipt of Funds by the Trustee Under the Security Documents Clause in Contracts

Authorization of Receipt of Funds by the Trustee Under the Security Documents. Subject to the provisions of the Intercreditor Agreement, the Notes Collateral Agent is authorized to receive any funds for the benefit of the Trustee and the Holders distributed under the Security Documents, and to make further distributions of such funds to the Trustee and the Trustee is authorized to receive any funds for the benefit of itself and the Holders and to make further distributions of such funds according to the provisions of this Indenture.

Authorization of Receipt of Funds by the Trustee Under the Security Documents. Subject to the provisions of the First Lien Intercreditor Agreement, the Notes Collateral Agent is authorized to receive any funds for the benefit of the Trustee and the Holders distributed under the Security Documents, and to make further distributions of such funds to the Trustee and the Trustee is authorized to receive any funds for the benefit of itself and the Holders and to make further distributions of such funds according to the provisions of this Indenture.

Authorization of Receipt of Funds by the Trustee Under the Security Documents. Subject to the provisions of the Intercreditor Agreement, proceeds in respect of Collateral received by the Notes Collateral Agent shall be passed on to the Paying Agent. The Paying Agent is authorized to receive any funds from the Collateral Agent for the benefit of the Trustee and the Holders distributed under the Security Documents, and to make further distributions of such funds to the Trustee and the Trustee is authorized to receive any funds for the benefit of itself and the Holders and to make further distributions of such funds according to the provisions of this Indenture.