ACCOUNT COLLECTION SERVICES. Certain Account Debtors may require or prefer that all of Seller's receivables be paid to the same address and/or party, or Seller and Buyer may agree that all receivables with respect to certain Account Debtors be paid to one party. In such event Buyer and Seller may agree that Buyer shall collect all receivables whether owned by Seller or Buyer and (provided that there does not then exist an Event of Default or event that with notice, lapse or time or otherwise would constitute an Event of Default, and subject to Buyer's rights in the Collateral) Buyer agrees to remit to Seller the amount of the receivables collections it receives with respect to receivables other than Purchased Receivables. It is understood and agreed by Seller that this Section does not impose any affirmative duty on Buyer to do any act other than to turn over such amounts. All such receivables and collections are Collateral and in the event of Seller's default hereunder, Buyer shall have no duty to remit collections of Collateral and may apply such collections to the obligations hereunder and Buyer shall have the rights of a secured party under the California Uniform Commercial Code.
ACCOUNT COLLECTION SERVICES. All Borrower's receivables are to be paid to the same address/or party and Borrower and Bank must agree on such address. If Bank collects all receivables and there is not an Event of Default or an event that with notice or lapse of time will be an Event of Default, within three (3) days of receipt of those collections, Bank will give Borrower the receivables collections it receives for receivables other than Financed Receivables and/or amount in excess of the amount for which Bank has made an Advance to Borrower, less any amount due to Bank, such as the Finance Charge, the Facility Fee, other fees and expenses, or otherwise. This Section 3.7 does not impose any affirmative duty on Bank to do any act other than to turn over amounts. All receivables and collections are Collateral and if an Event of Default occurs, Bank need not remit collections of Collateral and may apply them to the Obligations.
ACCOUNT COLLECTION SERVICES. All Borrower’s Accounts are to be paid to the same address/or party and Borrower and Bank must agree on such address. If Bank collects all Accounts and there is not an Event of Default or an event that with notice or lapse of time will be an Event of Default, within three (3) days of receipt of those collections, Bank will give Borrower the Accounts collections it receives for Accounts other than Financed Receivables and/or amount in excess of the amount for which Bank has made an Advance to Borrower, less any amount due to Bank, such as the Finance Charge, the Loan Fee, payments due to Bank, other fees and expenses, or otherwise; provided, however, Bank may hold such excess amount with respect to Financed Receivables as a reserve until the end of the applicable Reconciliation Period if Bank, in its reasonable discretion, determines that other Financed Receivable(s) may no longer qualify as an Eligible Account at any time prior to the end of the subject Reconciliation Period. This Section does not impose any affirmative duty on Bank to do any act other than to turn over amounts received by Bank. All Accounts and collections are Collateral and if an Event of Default occurs, Bank need not remit collections of Collateral and may apply them to the Obligations.
ACCOUNT COLLECTION SERVICES. Certain Account Debtors may require or prefer that all of the Company’s receivables be paid to the same address and/or party, or the Company and the Provider may agree that all receivables with respect to certain Account Debtors be paid to one party. In such event the Provider and the Company may agree that the Provider shall collect all receivables whether owned by the Company or the Provider and (provided that there does not then exist an Event of Default or event that with notice, lapse or time or otherwise would constitute an Event of Default, and subject to the Provider’s rights in the Collateral) the Provider agrees to remit to the Company the amount of the receivables collections it receives with respect to receivables other than Pledged Receivables. It is understood and agreed by the Company that this Section does not impose any affirmative duty on the Provider to do any act other than to turn over such amounts. All such receivables and collections are Collateral and in the event of the Company’s default hereunder, the Provider shall have no duty to remit collections of Collateral and may apply such collections to the obligations hereunder and the Provider shall have the rights of a secured party under the New York Uniform Commercial Code.
ACCOUNT COLLECTION SERVICES. All Borrowers' receivables are to be paid to the same address/or party and Borrower and Bank must agree on such address. If Bank collects all receivables and there is not an Event of Default or an event that with notice or lapse of time will be an Event of Default, within five (5) days of receipt of those collections, Bank will give Borrower, the receivables collections it receives for receivables other than Financed Receivables and/or amount in excess of the amount for which Bank has made an Advance to Borrower, less any amount due to Bank, such as the Finance Charge, Collateral Handling Fee and expenses or otherwise. This Section does not impose any affirmative duty on Bank to do any act other than to turn over amounts. All receivables and collections are Collateral and if an Event of Default occurs, Bank need not remit collections of Collateral and may apply them to the Obligations.
ACCOUNT COLLECTION SERVICES. Since certain Account Debtors require or prefer that all of SELLER'S accounts receivables be paid to the same address and/or party. PURCHASER and SELLER agree that PURCHASER shall collect all such accounts receivables whether owned by SELLER or PURCHASER, and PURCHASER agrees to remit the amount of the accounts receivables it receives and does not own, subject to PURCHASER'S rights as a secured party, to SELLER after deducting a handling fee of N/A% of such amounts received. It is understood and agreed by SELLER that this Paragraph does not impose any affirmative duty on PURCHASER to do any act other than to turn over such amounts.
ACCOUNT COLLECTION SERVICES. Certain Account Debtors may require or prefer that all of Buyer’s receivables be paid to the same address and/or party, or Seller and Buyer may agree that all receivables with respect to certain Account Debtors be paid to one party. In such event Buyer and Seller may agree that Seller shall collect all receivables whether owned by Seller or Buyer and Seller agrees to remit to Buyer the amount of the receivables collections it receives with respect to the receivables.
ACCOUNT COLLECTION SERVICES. Borrower shall establish a lockbox with Bank, pursuant to a blocked account agreement in such form as the Bank may specify. All invoices with respect to all Accounts and all other receivables shall direct that payment thereof to be made to said lockbox account, and any and all proceeds of Accounts and all other receivables which may be received by Borrower shall be deposited by seller into such lockbox account. The sums received in such lockbox account relating to Accounts shall be applied as provided in this Agreement. The sums received in lockbox relating to receivables other than Accounts shall be applied to any outstanding obligations in such order as the Bank shall determine, and any excess will be deposited by Bank in Borrower's operating account at Bank. Borrower agrees that it will not commingle payments and proceeds of Accounts or any other receivables with any of Borrower's other funds or property, but will hold such payments and proceeds separate and apart from such other funds and property and in a express trust for Bank. Nothing in this Section limits the restrictions on transfers of Collateral set forth elsewhere in this agreement
ACCOUNT COLLECTION SERVICES. All Borrowers' receivables are to be paid to the same address/or party and Borrower and Bank must agree on such address. If Bank collects all receivables and there is not an Event of Default or an event that with notice or lapse of time will be an Event of Default, within 3 days of receipt of those collections, Bank will give Borrower, the receivables collections it receives for receivables other than Financed Receivables and/or amount in excess of the amount for which Bank has made an Advance to Borrower, less any amount due to Bank, such as the Finance Charge, Collateral Handling Fee, Collateral
ACCOUNT COLLECTION SERVICES. All Borrowers' receivables are to be paid to the same address/or party and Borrower and Bank must agree on such address. If Bank collects all receivables and there is not an Event of Default or an event that with notice or lapse of time will be an Event of Default, within FIVE (5) days of receipt of those collections, Bank will give Borrower, the receivables collections it receives for receivables other than Financed Receivables and/or amount in excess of the amount for which Bank has made an Advance to Borrower, less any amount due to Bank, such as the Finance Charge, Collateral Handling Fee and expenses or otherwise. This Section does not impose any affirmative duty on Bank to do any act other than to turn over
