Common use of Accounts Collection Clause in Contracts

Accounts Collection. After the occurrence of an Event of Default, Lender may, through Agent, notify any Person owing funds to any Borrower of Lender's security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 4 contracts

Samples: Loan and Security Agreement (Netratings Inc), Loan and Security Agreement (Netratings Inc), Loan and Security Agreement (Netratings Inc)

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Accounts Collection. After At any time after the occurrence and during the continuation of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any Borrower of Lender's ’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's ’s trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 3 contracts

Samples: Loan and Security Agreement (Roka BioScience, Inc.), Loan and Security Agreement (Roka BioScience, Inc.), Term Loan and Security Agreement (Irvine Sensors Corp/De/)

Accounts Collection. After At any time after the occurrence and during the continuation of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any a Borrower of Lender's ’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's ’s trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Samples: Loan and Security Agreement (Rocky Mountain Chocolate Factory Inc), Loan and Security Agreement (U-Swirl, Inc.)

Accounts Collection. After In addition to the foregoing, at any time after the occurrence of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any Borrower of Lender's ’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's ’s trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Samples: Convertible Loan and Security Agreement (Vuzix Corp), Convertible Loan and Security Agreement (Vuzix Corp)

Accounts Collection. After At any time after the occurrence and during the continuation of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any Borrower a Credit Party of Lender's ’s security interest in such funds and verify the amount of such Account. Each The Borrower shall collect all amounts owing to such Borrower the Credit Parties for Lender, receive in trust all payments as Lender's ’s trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Samples: Credit Agreement (Aly Energy Services, Inc.), Credit Agreement (Aly Energy Services, Inc.)

Accounts Collection. After At any time during the occurrence existence of an Event of Default, (a) Lender may, through Agent, may notify any Person owing funds to any Borrower of Lender's ’s security interest in such funds and verify the amount of such Account. Each Account and (b) Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's trustee, ’s trustee and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Samples: Loan and Security Agreement (Starbase Corp), Loan and Security Agreement (Borland Software Corp)

Accounts Collection. After At any time after the occurrence and during the continuation of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any Borrower a Borrowers of Lender's ’s security interest in such funds and verify the amount of such Account. Each Borrower Borrowers shall collect all amounts owing to such Borrower Borrowers for Lender, receive in trust all payments as Lender's ’s trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Credit Agreement (Trupanion Inc.)

Accounts Collection. After At any time after the occurrence of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any Borrower of Lender's ’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's ’s trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Focus Enhancements Inc)

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Accounts Collection. After At any time after the occurrence and during the continuance of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any a Borrower of Lender's ’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's ’s trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Pac-West Telecomm Inc)

Accounts Collection. After the occurrence of When an Event of DefaultDefault occurs and continues, each Lender may, through Agent, may notify any Person owing funds to any Borrower money of such Lender's security interest in such the funds and verify the amount of such the Account. Each Borrower shall must collect all amounts owing to such Borrower for Lender, receive payments in trust all payments as Lender's trusteefor Lenders and, and if requested by Lenders, immediately deliver such the payments to Lender Lenders in their original the form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Green Power Energy Holdings Corp)

Accounts Collection. After At any time after the occurrence and during the continuation of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any Borrower of Lender's ’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's ’s trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Enservco Corp)

Accounts Collection. After In addition to the foregoing, at any time after the occurrence of an Event of Default, Lender may, through Agent, may notify any Person owing funds to any Borrower of Lender's security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Lender, receive in trust all payments as Lender's trustee, and immediately deliver such payments to Lender in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Convertible Loan and Security Agreement (Lc Capital Master Fund LTD)

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