In the event that, notwithstanding the foregoing, any payment by, or distribution of assets or properties of, any Obligor of any kind or character, whether in cash, property or securities, shall be directly or indirectly received by # the -District Creditors, in excess of the amount which the -District Creditors are entitled to receive pursuant to the foregoing clauses # and/or # in order to make the Pari Passu Debt paid and applied ratably and proportionately amongst and between Aegis and the -District Creditors with respect to all outstanding Pari Passu Debt on the basis of the respective Pari Passu Percentages, the -District Creditors shall promptly deliver such payment to Aegis for application to payment of the remaining unpaid Aegis Debt and until so delivered to Aegis will be held by the -District Creditors in trust as Aegis’ property, or # Aegis, in excess of the amount which Aegis are entitled to receive pursuant to the foregoing clauses # and/or # in order to make the Pari Passu Debt paid and applied ratably and proportionately amongst and between Aegis and the -District Creditors with respect to all outstanding Pari Passu Debt on the basis of the respective Pari Passu Percentages, Aegis shall promptly deliver such payment to the -District Creditors for application to payment of the remaining unpaid -District Debt and until so delivered to the -District Creditors will be held by Aegis in trust as the -District Creditors’ property, the intent of this clause (c) being to give effect to the provisions of the [foregoing clauses (a) and (b)])].
Any payment by, or any distribution of assets or properties of, any Obligor of any kind or character, whether in cash, property or securities, # to which the -District Creditors would be entitled except for the terms and provisions of this Agreement shall be paid or delivered by the Person making such payment or distribution, whether a trustee in bankruptcy, a receiver or liquidating trustee or otherwise, directly to Aegis and to the -District Creditors to the extent necessary to make the all payments and recoveries Pari Passu Debt paid and applied ratably and proportionately amongst and between Aegis and the -District Creditors with respect to all outstanding Pari Passu Debt on the basis of the respective Pari Passu Percentages of Aegis and the -District [[Organization F:Organization]] or # to which Aegis would be entitled except for the terms and provisions of this Agreement shall be paid or delivered by the Person making such payment or distribution, whether a trustee in bankruptcy, a receiver or liquidating trustee or otherwise, directly to Aegis and to the -District Creditors to the extent necessary to make the Pari Passu Debt paid and applied ratably and proportionately amongst and between Aegis and the -District Creditors with respect to all outstanding Pari Passu Debt on the basis of the respective Pari Passu Percentages of Aegis and the -District Creditors.
All payments and recoveries payable on account of principal and interest on the Pari Passu Debt shall be paid and applied ratably and proportionately amongst and between Aegis and the -District Creditors with respect to all outstanding Pari Passu Debt on the basis of the respective Pari Passu Percentages of Aegis and the -District Creditors. For the avoidance of doubt, notwithstanding anything to the contrary contained herein, in any Proceeding, all proceeds of the Collateral (other than the ILOC and any proceeds thereof, which is are reserved solely for Aegis) shall be paid and applied ratably and proportionately amongst and between Aegis and the -District Creditors with respect to all outstanding Pari Passu Debt on the basis of the respective Pari Passu Percentages of Aegis and the -District Creditors.
upon the occurrence and during the continuation of any Event of Default, all of the Pari Passu Debt shall rank equally without preference or priority of any kind over one another, and all payments and recoveries payable on account of principal and interest on the Pari Passu Debt, including without limitation any proceeds of Collateral (other than the ILOC and any proceeds thereof, which are reserved solely for Aegis), shall be paid and applied ratably and proportionately to Aegis and the -District Creditors with respect to all outstanding Pari Passu Debt on the basis of the respective Pari Passu Percentages of Aegis and the -District Creditors;
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