Authorization to Deduct Amounts in Lock Box. (1) Notwithstanding anything contained in this Agreement to the contrary, any time that any charges, fees, amounts or other Obligations are due and owing by any Credit Parties to Lender under this Agreement or any other Loan Document, Lender shall have the right, and is hereby authorized, to deduct such charges, fees, amounts or other Obligations directly from the Lock Box Account and from all receipts from time to time deposited therein.
Appears in 9 contracts
Samples: Senior Secured Revolving Credit Facility Agreement (Hispanica International Delights of America, Inc.), Senior Secured Revolving Credit Facility Agreement (Artec Global Media, Inc.), Senior Secured Revolving Credit Facility Agreement (Staffing Group, Ltd.)
Authorization to Deduct Amounts in Lock Box. (1) Notwithstanding anything contained in this Agreement to the contrary, any time that any charges, fees, amounts or other Obligations are due and owing by any Credit Parties to Lender under this Agreement or any other Loan Document, Lender shall have the right, and is hereby authorized, to deduct such charges, fees, amounts or other Obligations directly from the Lock Box Account and from all receipts Receipts from time to time deposited therein.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Facility Agreement (Intelligent Highway Solutions, Inc.)
