Common use of Distributions from Collection Accounts Clause in Contracts

Distributions from Collection Accounts. Notwithstanding the provisions of the foregoing Section 5.4(a), so long as no Specified Event of Default has occurred and is continuing, Seller shall have the right to withdraw, distribute or otherwise transfer any funds held or received in or paid into each Collection Account to other accounts maintained by Seller or its Affiliates, including by way of an automatic daily transfer implemented by the Depositary. If a Specified Event of Default has occurred and is continuing, then (i) all such rights of Seller with respect to such Collection Accounts shall be suspended and (ii) following Agent’s delivery of a Shifting Control Notice with respect to any Collection Account pursuant to the terms of the applicable Control Agreement, Agent shall be entitled to distribute (or instruct the Depositary to distribute) funds held in such Collection Account in accordance with, and subject to the terms of, the Security Agreement (including Section 2.04 thereof) until all amounts then due and payable by Seller under the Transaction Agreements have been paid in full.