Common use of Assignment of Accounts Clause in Contracts

Assignment of Accounts. Borrower hereby assigns to Bank all of Borrower's present and future Accounts, including all proceeds due thereunder, all guaranties and security therefor, and hereby grants to Bank a continuing security interest in all moneys collected as contemplated under Section 8 hereof, as security for any and all obligations of Borrower to Bank, whether now owing or hereunder incurred and whether direct, indirect, absolute or contingent. So long as Borrower is indebted to Bank or Bank is committed to extend credit to Borrower and there shall exist and be continuing and Event of Default, Borrower will execute and deliver to Bank such assignments, including Bank's standard forms of Specific or General Assignment covering individual Accounts, notices, financing statements, and other documents and papers as Bank may required in order to affirm, effectuate or further assure the assignment to Bank of the Collateral or to give any third party, including the account debtors obligated on the Accounts, notice of Bank's interest in the Collateral. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower shall be entitled to use the proceeds of such Accounts in the ordinary course of its business.

Assignment of Accounts. Borrower hereby assigns to Bank all of Borrower's present and future Accounts, including all proceeds due thereunder, all guaranties and security therefor, and hereby grants to Bank a continuing security interest in all moneys collected as contemplated under Section 8 hereof, 7 hereof as security for any and all obligations of Borrower to Bank, whether now owing or hereunder hereafter incurred and whether direct, indirect, absolute or contingent. So long as Borrower is indebted to Bank or Bank is committed to extend credit to Borrower and there shall exist and be continuing and an Event of Default, Borrower will execute and deliver to Bank such assignments, including Bank's standard forms of Specific or General Assignment covering individual Accounts, notices, financing statements, and other documents and papers as Bank may required require in order to affirm, effectuate or further assure the assignment to Bank of the Collateral or to give any third party, including the account debtors obligated on the Accounts, notice of Bank's interest in the Collateral. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower shall be entitled to use the proceeds of such Accounts in the ordinary course of its business.the

Assignment of Accounts. Borrower hereby assigns to Bank all of Borrower's present and future Accounts, including all proceeds due thereunder, all guaranties and security therefor, and hereby grants to Bank a continuing security interest in all moneys collected as contemplated under Section 8 hereof, by SECTION 6 hereof as security for any and all obligations of Borrower to Bank, whether now owing or hereunder hereafter incurred and whether direct, indirect, absolute or contingent. So long as a Borrower is indebted to Bank or Bank is committed to extend credit to Borrower and there shall exist and be continuing and an Event of Default, Borrower will execute and deliver to Bank such assignments, including Bank's standard forms of Specific or General Assignment covering individual Accounts, notices, financing statements, and other documents and papers as Bank may required require in order to affirm, effectuate or further assure the assignment to Bank of the Collateral or to give any third party, including the account debtors obligated on the Accounts, notice of Bank's interest in the Collateral. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower shall be entitled to use the proceeds of such Accounts in the ordinary course of its business.

Assignment of Accounts. Borrower hereby assigns to Bank all of Borrower's present and future Accounts, including all proceeds due thereunder, all guaranties and security therefor, and hereby grants to Bank a continuing security interest in all moneys collected as contemplated under Section 8 hereof, 9 hereof as security for any and all obligations of Borrower to Bank, whether now owing or hereunder hereafter incurred and whether direct, indirect, absolute or contingent. So long as Borrower is indebted to Bank or Bank is committed to extend credit to Borrower and there shall exist and be continuing and an Event of Default, Borrower will execute and deliver to Bank such assignments, including Bank's standard forms of Specific or General Assignment covering individual Accounts, notices, financing statements, and other documents and papers as Bank may required require in order to affirm, effectuate or further assure the assignment to Bank of the Collateral or to give any third party, including the account debtors obligated on the Accounts, notice of Bank's interest in the Collateral. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower shall be entitled to use the proceeds of such Accounts in the ordinary course of its business.