Accounts Notification/Collection Clause Samples
Accounts Notification/Collection. Bank may notify any Person owing Borrower money of Bank’s security interest in the funds and verify and/or collect the amount of the Account.
Accounts Notification/Collection. In the event that an Event of Default occurs and is continuing, Bank may notify any Person owing Borrower money of Bank's security interest in the funds and verify and/or collect the amount of the Account. After the occurrence of an Event of Default, any amounts received by Borrower shall be held in trust by Borrower for Bank, and, if requested by Bank, Borrower shall immediately deliver such receipts to Bank in the form received from the account debtor, with proper endorsements for deposit.
Accounts Notification/Collection. Bank may notify any Person owing Borrower money of Bank’s security interest in the funds and verify and/or collect the amount of the Account, provided, however, prior to the occurrence and continuance of an Event of Default, Bank will notify Borrower prior to making any direct contact with Borrower’s Account Debtors.
Accounts Notification/Collection. At all times that Borrower is not Borrowing Base Eligible or an Event of Default has occurred and is continuing, Bank may notify any Account Debtor of Bank’s security interest in the Borrower’s Accounts and verify.
Accounts Notification/Collection. At any time when a Streamline Period is not in effect (or, if a Streamline Period is in effect, at any time when Advances are outstanding or have been requested pursuant to Section 2.1.1(a)(i)), Bank may notify any Person owing Borrower money of Bank’s security interest in the funds and verify and/or collect the amount of the Account or Purchase Order.
Accounts Notification/Collection. In the event that either: (i) an Event of Default pursuant to Section 8.1 occurs and is continuing, (ii) an Event of Default pursuant to Section 8.5 occurs and is continuing, or (iii) the Bank accelerates any portion of the Obligations, Bank may notify any Person owing Borrower money of Bank’s security interest in the funds and verify and/or collect the amount of the Account. After the occurrence of an Event of Default, any amounts received by Borrower shall be held in trust by Borrower for Bank, and, if requested by Bank, Borrower shall immediately deliver such receipts to Bank in the form received from the account debtor, with proper endorsements for deposit.
Accounts Notification/Collection. Bank may notify any Account Debtor of Bank’s Liens in the Borrower’s Accounts and verify and/or collect them.
Accounts Notification/Collection. Upon the occurrence and during the continuation of an Event of Default, Lender may notify any Person owing Borrower money of Lender’s security interest in the funds and verify and/or collect the amount of such Account.
Accounts Notification/Collection. Lender may notify any Person owing Borrower money of Lender’s security interest in the funds and verify and/or collect the amount of the Account.
Accounts Notification/Collection. At any time after the occurrence of an Event of Default, Bank may notify any Person owing Borrower money of Bank’s security interest in the funds and verify and/or collect the amount of the Account.