Common use of Turnover of Proceeds Clause in Contracts

Turnover of Proceeds. While any Member Loan is outstanding, the Borrower acknowledges that, to the extent required to pay any Member Loan (including accrued and unpaid interest) in full, in repayment thereof the Company shall be obligated to pay directly to the Noteholder the amount of any distributions payable to the Borrower under the LLC Agreement as set forth herein.

Turnover of Proceeds. While any Member Loan is outstanding, the Borrower acknowledges that, to the extent required to pay any Member Loan (including accrued and unpaid interest) in full, in repayment thereof the Company shall be obligated to pay directly to the Noteholder the amount of any distributions payable to the Borrower under the LLC Agreement as set forth herein. 5.

Turnover of Proceeds. While any Member Loan is outstanding, the Borrower acknowledges that, to the extent required to pay repay any Member Loan (including accrued and unpaid interest) in full, in repayment thereof the Company shall be obligated to pay directly to the Noteholder the amount of any distributions payable to the Borrower under the LLC Agreement as set forth herein.Borrower