Common use of Excluded Payments Clause in Contracts

Excluded Payments. All payments received by the Mortgagee which are Excluded Payments are not part of the Collateral and shall promptly be paid over by the Mortgagee to the Mortgagor or other Person owed such amounts.

Appears in 2 contracts

Sources: Mortgage and Security Agreement (Allegiant Travel CO), Credit Agreement (Allegiant Travel CO)