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.
Appears in 11 contracts
Samples: Loan and Security Agreement (Color Kinetics Inc), Loan Modification Agreement (Skillsoft Public Limited Co), Loan and Security Agreement (Skillsoft Public Limited Co)
Accounts Notification/Collection. In the event that an Event of Default occurs and is continuing, Bank may notify any Person owing Borrower Debtor money of Bank's ’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 Debtor shall be held in trust by Borrower Debtor for Bank, and, if requested by Bank, Borrower Debtor shall immediately deliver such receipts to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 2 contracts
Samples: Security Agreement (Reval Holdings Inc), Security Agreement (GlobalOptions Group, Inc.)
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 and during the continuance 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.
Appears in 2 contracts
Samples: Loan Modification Agreement (Constant Contact, Inc.), Loan Modification Agreement (Constant Contact, Inc.)
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 ’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.
Appears in 2 contracts
Samples: Loan and Security Agreement (Aprimo, INC), Loan and Security Agreement (Infinera Corp)
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 and during the continuance of an Event of DefaultDefault and notice to the Borrower, 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.
Appears in 1 contract
Samples: Loan and Security Agreement (Momenta Pharmaceuticals Inc)
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 During the occurrence continuance 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.
Appears in 1 contract
Samples: Loan and Security Agreement (Onesource Information Services Inc)
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 promptly deliver such receipts to Bank in the form received from the account debtor, with proper endorsements for deposit.
Appears in 1 contract
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 ’s security interest in the funds and verify and/or collect the amount of the Account. After the occurrence and during the continuance 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.
Appears in 1 contract
Samples: Loan and Security Agreement (American Science & Engineering Inc)
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 and during the continuance of an any 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.
Appears in 1 contract
