Accounts and Payments in Respect of General Intangibles. (a) If required by the Administrative Agent at any time during the continuance of an Event of Default, any payment of Accounts or payment in respect of General Intangibles, when collected by any Grantor, shall be forthwith (and, in any event, within five Business Days) deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the Administrative Agent if required, in a Cash Collateral Account, subject to withdrawal by the Administrative Agent as provided in Section 5.4 (
Appears in 2 contracts
Samples: Security Agreement (Dominion Homes Inc), Security Agreement (Dominion Homes Inc)
Accounts and Payments in Respect of General Intangibles. (a) If required by the Administrative Agent at any time during the continuance of an Event of Default, any payment of Accounts or payment in respect of General Intangibles, when collected by any Grantor, shall be forthwith (and, in any event, within five two Business Days) deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the Administrative Agent if required, in a Cash Collateral Account, subject to withdrawal by the Administrative Agent as provided in Section 5.4 (
Appears in 1 contract
Samples: Pledge and Security Agreement (Hli Operating Co Inc)
Accounts and Payments in Respect of General Intangibles. (a) If required by the Administrative Agent at any time during the continuance of an Event of Default, any payment of Accounts or payment in respect of General Intangibles, when collected by any Grantor, shall be forthwith (and, in any event, within five two Business Days) deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the Administrative Agent if required, in an Approved Deposit Account or a Cash Collateral Account, subject to withdrawal by the Administrative Agent as provided in Section 5.4 (
Appears in 1 contract
Samples: Pledge and Security Agreement (Johnsondiversey Holdings Inc)
