▇▇▇▇▇▇▇▇ and Collections. Publisher hereby grants and assigns to Warner a continuing security interest in and to all sums which may be paid or are payable to Warner by wholesalers or other parties as Gross ▇▇▇▇▇▇▇▇, Final ▇▇▇▇▇▇▇▇ or otherwise in connection with the exercise by Warner of its rights pursuant to this agreement. Although Warner shall not be obligated to segregate any of the aforesaid sums from any of its other funds, or to pay any interest thereon to Publisher (other than as may be awarded to Publisher in the event of non-payment or late payment of such amounts by Warner), Warner shall be considered a trustee, pledgeholder or fiduciary of Publisher as to such collected funds.
Appears in 2 contracts
Sources: Publishing Agreement (Playboy Enterprises Inc), Publishing Agreement (Playboy Enterprises Inc)