Common use of Payments to the Security Agent Clause in Contracts

Payments to the Security Agent. Notwithstanding any other provision of any Finance Document, at any time after any Security created by or pursuant to any Security Document becomes enforceable, the Security Agent may require: (a) any Obligor to pay all sums due under any Finance Document; or (b) the Agent to pay all sums received or recovered from an Obligor under any Finance Document, in each case as the Security Agent may direct for application in accordance with the terms of the Security Documents. Any payment made by the Security Agent to the Agent or directed by the Security Agent to be made to the Agent for distribution pursuant to this Clause 34 shall discharge the obligations of the Security Agent to make payment of the same.

Payments to the Security Agent. Notwithstanding any other provision of any Finance Document, at any time after any Security created by or pursuant to any Security Document becomes enforceable, the Security Agent may require: : (a) any Obligor to pay all sums due under any Finance Document; or or (b) the Agent to pay all sums received or recovered from an Obligor under any Finance Document, in each case as the Security Agent may direct for application in accordance with the terms of the Security Documents. Any payment made by the Security Agent to the Agent or directed by the Security Agent to be made to the Agent for distribution pursuant to this Clause 34 shall discharge the obligations of the Security Agent to make payment of the same.