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These excerpts taken from the MRVL 8-K filed Nov 14, 2006. . Right to Receive Distribution on Collateral. If an Event of Default shall have
occurred and be continuing and the Administrative Agent shall have notified the
Lien Grantors of its intent to exercise its rights under the Security
Documents, the Administrative Agent shall have the right to receive and to
retain as Collateral hereunder all Cash Distributions and each Lien Grantor
shall take all such action as the Administrative Agent may deem necessary or
appropriate to give effect to such right.
All such Cash Distributions which are received by a Lien Grantor during
the continuance of an Event of Default shall be received in trust for the
benefit of the Administrative Agent and the Lenders and, if the Administrative
Agent so directs during the continuance of an Event of Default, shall be
segregated from other funds of such Lien Grantor and shall, forthwith upon
demand by the Administrative Agent during the continuance of an Event of
Default, be paid over to the Administrative Agent as Collateral in the same
form as received (with any necessary endorsement). After all Events of
12 Default have been cured, the Administrative Agent’s right to retain Cash Distributions under this Section 8 shall cease and the Administrative Agent shall pay over to the appropriate Lien Grantor any such Collateral retained by it during the continuance of an Event of Default. Section 9 . Right to Receive Distribution on Collateral.
If an Event of Default shall have
occurred and be continuing and the Administrative Agent shall have notified the
Lien Grantors of its intent to exercise its rights under the Security
Documents, the Administrative Agent shall have the right to receive and to
retain as Collateral hereunder all Cash Distributions and each Lien Grantor
shall take all such action as the Administrative Agent may deem necessary or
appropriate to give effect to such right.
All such Cash Distributions which are received by a Lien Grantor during
the continuance of an Event of Default shall be
13 received in trust for the benefit of the Administrative Agent and the Lenders and, if the Administrative Agent so directs during the continuance of an Event of Default, shall be segregated from other funds of such Lien Grantor and shall, forthwith upon demand by the Administrative Agent during the continuance of an Event of Default, be paid over to the Administrative Agent as Collateral in the same form as received (with any necessary endorsement). After all Events of Default have been cured, the Administrative Agent’s right to retain Cash Distributions under this Section 8 shall cease and the Administrative Agent shall pay over to the appropriate Lien Grantor any such Collateral retained by it during the continuance of an Event of Default. Section 9 | EXCERPTS ON THIS PAGE:
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