Trust Provision. Any payments received by the Debtor at any time after the occurrence and during the continuance of an Event of Default, whether before or after notification to Account Debtors, shall be held by the Debtor in trust for the Secured Party in the same medium in which received, shall not be commingled with any assets of the Debtor and shall be immediately paid over to the Secured Party in the same form as received (with any necessary endorsement) to be applied in the same manner as payments received directly by the Secured Party.
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Sources: Security Agreement (West Marine Inc)
Trust Provision. Any payments received by the Debtor at any time after the occurrence and during the continuance of an Event of Default, whether before or after notification to Account Debtors, shall be held by the Debtor in trust for the Secured Party in the same medium in which received, shall not be commingled with any assets of the Debtor and shall shall, at the request of the Secured Party, be immediately paid turned over to the Secured Party in not later than the same form as received (with any necessary endorsement) to be applied in next business day following the same manner as payments received directly by the Secured Partyday of their receipt.
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