Common use of Book debts and receipts Clause in Contracts

Book debts and receipts. The Chargor shall: (a) get in and realise its: (i) securities to the extent held by way of temporary investment; (ii) book and other debts and other moneys, including, but without prejudice to the generality of the foregoing, debts and moneys arising from any Material Contract; and (iii) royalties, fees and income of like nature in relation to any Intellectual Property Right owned by it, in each case, in the ordinary course of its business and pay the proceeds of such getting in and realisation into such Collateral Account(s) as the Security Trustee may from time to time specify and, pending such payment, hold the proceeds of such getting in and realisation upon trust for the Security Trustee; (b) not withdraw all or any moneys (including interest) standing to the credit of any Collateral Account following notice from the Security Trustee during the continuance of an Event of Default; and (c) not assign or otherwise transfer, and not create or permit to exist any Lien (other than a Permitted Lien) over any Collateral Account or any interest therein.