Common use of Application of Payments and Collections Clause in Contracts

Application of Payments and Collections. Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or hereafter received by Lender from or on behalf of Borrower, and agrees that Lender shall have the continuing right to apply and reapply any and all such payments and collections received at any time hereafter against the Obligations, in such manner as Lender may deem advisable.

Appears in 2 contracts

Samples: Term Loan Agreement (Home Federal Holdings CORP), Loan Agreement (Home Federal Holdings CORP)

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Application of Payments and Collections. (A) Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or times hereafter received by Lender from or on behalf of Borrower, and agrees Borrower does hereby irrevocably agree that Lender shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time or times hereafter by Lender against the Obligations, in such manner as Lender may deem advisable, notwithstanding any entry by Lender upon any of its books and records.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Kimmins Corp/De)

Application of Payments and Collections. Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or hereafter received by Lender from or on behalf of Borrower, and Borrower irrevocably agrees that Lender shall will have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time hereafter against the ObligationsLiabilities, in such manner as Lender may deem advisable, notwithstanding any entry by Lender upon any of its books and records.

Appears in 1 contract

Samples: Loan and Security Agreement (Focus Affiliates Inc)

Application of Payments and Collections. Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or hereafter received by Lender from or on behalf of Borrower, and Borrower agrees that Lender shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time hereafter against the Obligations, Liabilities in such manner as Lender may deem advisable.appropriate, notwithstanding any entry by Lender upon any of its books and

Appears in 1 contract

Samples: Loan and Security Agreement (Tro Learning Inc)

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Application of Payments and Collections. The Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or hereafter received by the Lender from or on behalf of Borrower, the Borrower and agrees that the Lender shall have the continuing right to apply and reapply any and all such payments and collections received at any time hereafter against the Obligations, in such manner as the Lender may deem advisable.

Appears in 1 contract

Samples: Loan Agreement (DPW Holdings, Inc.)

Application of Payments and Collections. Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or hereafter received by Lender from or on behalf of Borrower, and Borrower agrees that Lender shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time hereafter against the Obligations, in such manner as Lender may deem advisable.collec-

Appears in 1 contract

Samples: Loan and Security Agreement (Conquest Industries Inc)

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