Common use of ASSIGNEE DEPOSIT ACCOUNT Clause in Contracts

ASSIGNEE DEPOSIT ACCOUNT. Upon demand by U. S. Bank after the occurrence and during the continuation of an Event of Default, Borrower will transmit and deliver to U. S. Bank, in the form received, immediately after receipt, all cash, checks, drafts, Chattel Paper, Instruments, or other writings for the payment of money including Investment Property (properly endorsed, where required, so that the items may be collected by U. S. Bank) that may be received by Borrower at any time. All items or amounts that are delivered by Borrower to U. S. Bank, or collected by U. S. Bank from the Account Debtors, shall be deposited to the credit of a Deposit Account ("Assignee Deposit Account") of Borrower with U. S. Bank, as security for the payment of the Secured Obligations. Borrower shall have no right to withdraw any funds deposited in the Assignee Deposit Account. U. S. Bank may, from time to time in its discretion, and shall, upon the request of Borrower made not more than twice in any week, apply all or any of the balance, representing collected funds, in the Assignee Deposit Account, to payment of the Secured Obligations, whether or not then due, in such order of application, not inconsistent with the terms of the Credit Agreement and this Agreement, as U. S. Bank may determine; and U. S. Bank may, from time to time in its discretion, release all or any of such balance to Borrower.

ASSIGNEE DEPOSIT ACCOUNT. Upon demand by U. S. Bank after the occurrence and during the continuation of an Event of DefaultDefault and following demand by Lender, Borrower will transmit and deliver to U. S. BankLender, in the form received, immediately after receipt, all cash, checks, drafts, Chattel Paper, Instruments, Instruments or other writings for the payment of money including Investment Property (properly endorsed, where required, so that the items may be collected by U. S. Bank) Lender), if any, that may be received by Borrower at any time. All items or amounts that are delivered by Borrower to U. S. BankLender, or collected by U. S. Bank Lender from the Account Debtors, shall be deposited at Lender’s sole discretion, (i) into an account of Lender and controlled by Lender (“Lender Account”); or (ii) to the credit of a Deposit Account ("“Assignee Deposit Account"”) of the Borrower with U. S. Bankcontrolled by Lender, either as security for the payment of the Secured Obligations. Borrower shall have no right to withdraw any funds deposited in the an Assignee Deposit Account or a Lender Account. U. S. Bank Lender may, from time to time in its discretion, and shall, upon the request of Borrower made not more than twice in any week, apply all or any of the balance, representing collected funds, in the any Lender Account or Assignee Deposit Account, to payment of the Secured Obligations, Execution Form 13 CFFC / Coronus Energy Security Agreement whether or not then due, in such order of application, not inconsistent with the terms of the Credit Agreement Note and this Agreement, as U. S. Bank Lender may determine; and U. S. Bank Lender may, from time to time in its discretion, release all or any of such balance to Borrower.

ASSIGNEE DEPOSIT ACCOUNT. Upon demand by U. S. Bank after the occurrence and during the continuation of an Event of DefaultBank, Borrower Sungold will transmit and deliver to U. S. Bank, in the form received, immediately after receipt, all cash, checks, drafts, Chattel Paper, Instruments, or other writings for the payment of money money, including Investment 12 Property (properly endorsed, where required, so that the items may be collected by U. S. Bank) that may be received by Borrower Sungold at any time. All items or amounts that are delivered by Borrower Sungold to U. S. Bank, or collected by U. S. Bank from the Account Debtors, shall be deposited to the credit of a Deposit Account ("Assignee Deposit Account") of Borrower Sungold with U. S. Bank, as security for the payment of the Secured Obligations. Borrower Sungold shall have no right to withdraw any funds deposited in the Assignee Deposit Account. U. S. Bank may, from time to time in its discretion, and shall, upon the request of Borrower Sungold made not more than twice in any week, apply all or any of the balance, representing collected funds, in the Assignee Deposit Account, to payment of the Secured Obligations, whether or not then due, in such order of application, not inconsistent with the terms of the Credit Agreement and this Agreement, as U. S. Bank may determine; and U. S. Bank may, from time to time in its discretion, release all or any of such balance to BorrowerSungold.

ASSIGNEE DEPOSIT ACCOUNT. Upon demand by U. S. Bank Bank, after the an occurrence and during the continuation of an any Event of Default, Borrower will transmit and deliver to U. S. Bank, in the form received, immediately after receipt, all cash, checks, drafts, Chattel Paper, Instruments, or other writings for the payment of money including Investment Property (properly endorsed, where required, so that the items may be collected by U. S. Bank) that may be received by Borrower at any timetime to the extent required by the Credit Agreement. All items or amounts that are delivered by Borrower to U. S. Bank, or collected by U. S. Bank from the Account Debtors, shall be deposited to the credit of a Deposit Account ("Assignee Deposit Account") of Borrower with U. S. Bank, as security for the payment of the Secured Obligations. Borrower shall have no right to withdraw any funds deposited in the Assignee Deposit Account. U. S. Bank may, from time to time in its discretiondiscretion after an occurrence of any Event of Default, and shall, upon the request of Borrower made not more than twice in any week, apply all or any of the balance, representing collected funds, in the Assignee Deposit Account, to payment of the Secured Obligations, whether or not then due, in such order of application, not inconsistent with the terms of the Credit Agreement and this Agreement, as U. S. Bank may determine; and U. S. Bank may, from time to time in its discretion, release all or any of such balance to Borrower.