Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing Borrower money of Bank's security interest in the funds and verify the amount of the Account, and (b) Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
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Samples: Loan and Security Agreement (Harmonic Inc), Loan and Security Agreement (Harmonic Inc), Loan and Security Agreement (Alteon Websystems Inc)
Accounts Collection. When an Event of Default occurs and continues, (a) Bank ------------------- may notify any Person owing Borrower money of Bank's security interest in the funds and verify the amount of the Account, and (b) . Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 3 contracts
Samples: Loan Agreement (Aml Communications Inc), Loan Agreement (Lantronix Inc), Loan and Security Agreement (Lantronix Inc)
Accounts Collection. When an Event of Default occurs and only for so long as it continues, (a) Bank may notify any Person owing Borrower money of Bank's ’s security interest in the funds and verify the amount of the Account, and (b) . Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Tivo Inc)
Accounts Collection. When an Event of Default occurs and continues, (a) ------------------- Bank may notify any Person owing Borrower money of Bank's security interest in the funds and verify the amount of the Account, and (b) . Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 2 contracts
Samples: Loan and Security Agreement (LTX Corp), Loan and Security Agreement (Phase2media Inc)
Accounts Collection. When At any time after the occurrence and during the continuation of an Event of Default occurs and continues, Default:
(a) Bank may notify any Person owing funds to Borrower money of Bank's ’s security interest interests and Liens in the such funds and verify the amount of the such Account, and ; and
(b) Borrower must shall collect all payments amounts owing to Borrower for Bank, receive in trust for Bank andall payments as Bank’s trustee, if requested by Bank, and immediately deliver the such payments to Bank in the their original form as received from the account debtor, with proper endorsements for deposit.
Appears in 1 contract
Samples: Loan and Security Agreement (NightHawk Radiology Holdings Inc)
Accounts Collection. When Upon the occurrence and during the continuance of an Event of Default occurs and continuesDefault, (ai) Bank may notify any Person owing funds to Borrower money constituting payment of the Collateral of Bank's security interest in the such funds and verify the amount of the such Account, and (b) Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 1 contract
Samples: Loan and Security Agreement (Mobius Management Systems Inc)
Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing Borrower money of Bank's ’s security interest in the funds and verify the amount of the Account. Upon the occurrence and during the continuance of an Event of Default, and (b) Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
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Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing either Borrower money of Bank's ’s security interest in the funds and verify the amount of the Account. Upon the occurrence and during the continuance of an Event of Default, and (b) Borrower Borrowers must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
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Accounts Collection. When an Event of Default occurs and continues, (a) -------------------- Bank may notify any Person owing Borrower money of Bank's security interest in the funds and verify the amount of the Account, and (b) . Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 1 contract
Samples: Loan and Security Agreement (Bio Imaging Technologies Inc)
Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing Borrower money of Bank's ’s security interest in the funds and verify the amount of the Account. During the existence of an Event of Default, and (b) Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
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Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing Borrower money of Bank's ’s security interest in the funds and verify the amount of the Account, and (b) Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
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Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing Borrower money of Bank's security interest in the funds and verify the amount of the Account, and (b) Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
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Accounts Collection. When an Event of Default occurs and continues, (ai) Bank may notify any Person owing Borrower money of Bank's security interest in the funds and verify the amount of the Account, and (bii) Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 1 contract
Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing Borrower money of Bank's security interest in the funds and verify the amount of the Account. Upon the occurrence and continuation of an Event of Default, and (b) Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
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Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing any Borrower money of Bank's ’s security interest in the funds and verify the amount of the Account, and (b) Borrower . Borrowers must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Allied Motion Technologies Inc)
Accounts Collection. When an Event of Default occurs and continues, (a) Bank may notify any Person owing either Borrower money of Bank's security interest in the funds and verify the amount of the Account, and (b) each Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit.
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