Common use of Collateral Collections Clause in Contracts

Collateral Collections. After an Event of Default shall have occurred, subject to the first priority rights of the Prior Secured Party under the Existing Credit Agreements, Lender shall have the right at any and all times to enforce Borrower’s rights against account borrowers and other parties obligated on Collateral, including, but not limited to, the right to: (a) notify and/or require Borrower to notify any or all account borrowers and other parties obligated on Collateral to make payments directly to Lender or in care of a post office lock box under the sole control of Lender established at Borrower’s expense subject to Lender’s customary arrangements and charges therefor, and to take any or all action with respect to Collateral as Lender shall determine in its sole discretion, including, without limitation, the right to demand, collect, xxx for, and receive any money or property at any time due, payable, or receivable on account thereof, compromise and settle with any person liable thereon, and extend the time of payment or otherwise change the terms thereof, without incurring liability or responsibility to Borrower; (b) require Borrower to segregate and hold in trust for Lender and, on the day of Borrower’s receipt thereof, transmit to Lender in the exact form received by Borrower (except for such assignments and endorsements as may be required by Lender), all cash, checks, drafts, money orders, and other items of payment constituting Collateral or proceeds of Collateral; and/or (c) establish and maintain at a financial institution designated by Lender a “Repayment Account” that shall be under the exclusive control of and subject to the sole order of Lender and that shall be subject to the imposition of such customary charges as are imposed from time to time upon such accounts by the financial institution at which such account is maintained, for the deposit of cash, checks, drafts, money orders, and other items of payments constituting Collateral or proceeds of Collateral from which Lender may, in its sole discretion, at any time and from time to time, withdraw all or any part. Lender’s collection and enforcement of Collateral against account borrowers and other persons obligated thereon shall be deemed to be commercially reasonable if Lender exercises the care and follows the procedures that a commercially reasonable lender generally applies to the collection of obligations owed to it. All cash and non- cash proceeds of the Collateral may be applied by Lender upon Lender’s actual receipt of cash proceeds against such of the Obligations, matured or unmatured, as Lender shall determine in Lender’s sole discretion.

Collateral Collections. After If an Event of Default shall have occurred, subject to the first priority rights of the Prior Secured Party under the Existing Credit Agreementsoccurred and is continuing, Lender shall have the right at any and all times to enforce Borrower’s rights against account borrowers debtors and other parties obligated on Collateral, including, but not limited to, the right to: (a) notify and/or require Borrower to notify any or all account borrowers debtors and other parties obligated on Collateral to make payments directly to Lender or in care of a post office lock box under the sole control of Lender established at Borrower’s expense subject to Lender’s customary arrangements and charges therefortherefore, and to take any or all action with respect to Collateral as Lender shall determine in its sole discretion, including, without limitation, the right to demand, collect, xxx for, for and receive any money or property at any time due, payable, payable or receivable on account thereof, compromise and settle with any person Person liable thereon, and extend the time of payment or otherwise change the terms thereof, without incurring liability or responsibility to Borrower; (b) require Borrower to segregate and hold in trust for Lender and, on the day of Borrower’s receipt thereof, transmit to Lender in the exact form received by Borrower (except for such assignments and endorsements as may be required by Lender), all cash, checks, drafts, money orders, orders and other items of payment constituting Collateral or proceeds of Collateral; and/or (c) establish and maintain at a financial institution designated by Lender a “Repayment Account,” that which shall be under the exclusive control of and subject to the sole order of Lender and that which shall be subject to the imposition of such customary charges as are imposed by Lender from time to time upon such accounts by the financial institution at which such account is maintainedaccounts, for the deposit of cash, checks, drafts, money orders, orders and other items of payments constituting Collateral or proceeds of Collateral from which Lender may, in its sole discretion, at any time and from time to time, withdraw all or any part. Lender’s collection and enforcement of Collateral against account borrowers debtors and other persons Persons obligated thereon shall be deemed to be STINGRAY PRESSURE PUMPING, LLC PAGE 11 LOAN AND SECURITY AGREEMENT commercially reasonable if Lender exercises the care and follows the procedures that a commercially reasonable lender Lender generally applies to the collection of obligations Obligations owed to itLender. All cash and non- non-cash proceeds of the Collateral may be applied by Lender upon Lender’s actual receipt of cash proceeds against such of the Obligations, matured or unmatured, as Lender shall determine in Lender’s sole discretion.

Collateral Collections. After an Event of Default shall have occurred, subject to the first priority rights of the Prior Secured Party under the Existing Credit Agreements, Lender shall have the right at any and all times to enforce Borrower’s rights against account borrowers debtors and other parties obligated on Collateral, including, but not limited to, the right to: (a) notify and/or require Borrower to notify any or all account borrowers debtors and other parties obligated on Collateral to make payments directly to Lender or in care of a post office lock box under the sole control of Lender established at Borrower’s expense subject to Lender’s customary arrangements and charges therefortherefore, and to take any or all action with respect to Collateral as Lender shall determine in its sole discretion, including, without limitation, the right to demand, collect, xxx for, for and receive any money or property at any time due, payable, payable or receivable on account thereof, compromise and settle with any person Person liable thereon, and extend the time of payment or otherwise change the terms thereof, without incurring liability or responsibility to Borrower; (b) require Borrower to segregate and hold in trust for Lender and, on the day of Borrower’s receipt thereof, transmit to Lender in the exact form received by Borrower (except for such assignments and endorsements as may be required by Lender), all cash, checks, drafts, money orders, orders and other items of payment constituting Collateral or proceeds of Collateral; and/or (c) establish and maintain at a financial institution designated by Lender a “Repayment Account,” that which shall be under the exclusive control of and subject to the sole order of Lender and that which shall be subject to the imposition of such customary charges as are imposed by Lender from time to time upon such accounts by the financial institution at which such account is maintainedaccounts, for the deposit of cash, checks, drafts, money orders, orders and other items of payments constituting Collateral or proceeds of Collateral from which Lender may, in its sole discretion, at any time and from time to time, withdraw all or any part. Lender’s collection and enforcement of Collateral against account borrowers debtors and other persons Persons obligated thereon shall be deemed to be commercially reasonable if Lender exercises the care and follows the procedures that a commercially reasonable lender Lender generally applies to the collection of obligations Obligations owed to itLender. All cash and non- non-cash proceeds of the Collateral may be applied by Lender upon Lender’s actual receipt of cash proceeds against such of the Obligations, matured or unmatured, as Lender shall determine in Lender’s sole discretion.

Collateral Collections. After Upon an Event of Default shall have occurred, subject to the first priority rights of the Prior Secured Party under the Existing Credit AgreementsDefault, Lender shall have the right at any and all times to enforce BorrowerObligor’s rights against account borrowers debtors and other parties obligated on Collateral, including, but not limited to, the right to: (a) notify and/or require Borrower Obligor to notify any or all account borrowers debtors and other parties obligated on Collateral to make payments directly to Lender or in care of a post office lock box under the sole control of Lender established at BorrowerObligor’s expense subject to Lender’s customary arrangements and charges therefor, and to take any or all action with respect to Collateral as Lender shall determine in its sole discretion, including, without limitation, the right to demand, collect, xxx for, sxx for and receive any money or property at any time due, payable, payable or receivable on account thereof, compromise and settle with any person liable thereon, and extend the time of payment or otherwise change the terms thereof, without incurring liability or responsibility to BorrowerObligor; (b) require Borrower Obligor to segregate and hold in trust for Lender and, on the day of BorrowerObligor’s receipt thereof, transmit to Lender in the exact form received by Borrower Obligor (except for such assignments and endorsements as may be required by Lender), all cash, checks, drafts, money orders, orders and other items of payment constituting Collateral or proceeds of Collateral; and/or (c) establish and maintain at a financial institution designated by Lender a “Repayment Account,” that which shall be under the exclusive control of and subject to the sole order of Lender and that which shall be subject to the imposition of such customary charges as are imposed by Lender from time to time upon such accounts by the financial institution at which such account is maintainedaccounts, for the deposit of cash, checks, drafts, money orders, orders and other items of payments constituting Collateral or proceeds of Collateral from which Lender may, in its sole discretion, at any time and from time to time, withdraw all or any part. Lender’s collection and enforcement of Collateral against account borrowers debtors and other persons obligated thereon shall be deemed to be commercially reasonable if Lender exercises the care and follows the procedures that a commercially reasonable lender Lender generally applies to the collection of obligations owed to itLender. All cash and non- non-cash proceeds of the Collateral may be applied by Lender upon Lender’s actual receipt of cash proceeds against such of the Obligations, matured or unmatured, as Lender shall determine in Lender’s sole discretion.

Collateral Collections. After an Event of Default shall have occurred, subject to the first priority rights of the Prior Secured Party under the Existing Credit Agreements, Lender Bank shall have the right at any and all times to enforce Borrower’s rights against account borrowers and other parties obligated on Collateral, including, but not limited to, the right totimes: (a) following the occurrence and during the continuance of an Event of Default, to notify and/or require Borrower Borrowers to notify any or all account borrowers debtors and other parties obligated obligors on Collateral Receivables to make payments thereon directly to Lender Bank or in care of a post office lock box under the sole control of Lender Bank established at Borrower’s Borrowers' expense subject to Lender’s Bank's customary arrangements and charges therefor, and to take any or all action with respect to Collateral Receivables as Lender Bank shall determine in its sole discretion, including, without limitation, the right to demand, collect, xxx for, for and receive any money or property at any time due, payable, payable or receivable on account thereof, compromise and settle with any person liable thereon, and extend the time of payment or otherwise change the terms thereof, without incurring liability or responsibility to Borrowerany Borrower or any guarantor therefor; (b) following the occurrence and during the continuance of a Default or an Event of Default, to require each Borrower to segregate and hold in trust for Lender Bank and, on the day of Borrower’s 's receipt thereof, transmit to Lender Bank in the exact form received by such Borrower (except for such assignments and endorsements as may be required by LenderBank), all cash, checks, drafts, money orders, orders and other items of payment constituting Collateral or proceeds of CollateralCollateral for application, upon collection when applicable, against such of the Obligations, whether matured or unmatured, as Bank shall determine in its sole discretion; and/or (c) following the occurrence and during the continuance of a Default or an Event of Default, to establish and maintain at Bank a financial institution designated by Lender a “"Repayment Account” that ," which shall be under the exclusive control of and subject to the sole order of Lender Bank and that which shall be subject to the imposition of such customary charges as are imposed by Bank from time to time upon such accounts by the financial institution at which such account is maintainedaccounts, for the deposit deposit, as a tender of payment of the Obligations, of cash, checks, drafts, money orders, orders and other items of payments payment constituting Collateral or proceeds of Collateral coming into Bank's possession pursuant to the terms of this Agreement and from which Lender Bank may, in its sole discretion, at any time and from time to time, withdraw all or any part. Lender’s collection and enforcement of Collateral against account borrowers and other persons obligated thereon shall be deemed to be commercially reasonable if Lender exercises the care and follows the procedures that a commercially reasonable lender generally applies to the collection of obligations owed to it. All cash and non- cash proceeds part of the Collateral may be applied by Lender upon Lender’s actual receipt of cash proceeds balance for application against such of the Obligations, whether matured or unmatured, as Lender Bank shall determine in Lender’s its sole discretion.

Collateral Collections. After an Event of Default shall have occurred, subject to the first priority rights of the Prior Secured Party under the Existing Credit Agreements, Lender Creditor shall have the right at any and all times to enforce BorrowerDebtor’s rights against account borrowers debtors and other parties obligated on Collateral, including, but not limited to, the right to: (a) notify and/or require Borrower Debtor to notify any or all account borrowers debtors and other parties obligated on Collateral to make payments directly to Lender Creditor or in care of a post office lock box under the sole control of Lender Creditor established at BorrowerDebtor’s expense subject to LenderCreditor’s customary arrangements and charges therefor, and to take any or all action with respect to Collateral as Lender Creditor shall determine in its sole discretion, including, without limitation, the right to demand, collect, xxx for, for and receive any money or property at any time due, payable, payable or receivable on account thereof, compromise and settle with any person liable thereon, and extend the time of payment or otherwise change the terms thereof, without incurring liability or responsibility to BorrowerDebtor; (b) require Borrower Debtor to segregate and hold in trust for Lender Creditor and, on the day of BorrowerDebtor’s receipt thereof, transmit to Lender Creditor in the exact form received by Borrower Debtor (except for such assignments and endorsements as may be required by LenderCreditor), all cash, checks, drafts, money orders, orders and other items of payment constituting Collateral or proceeds of Collateral; and/or (c) establish and maintain at a financial institution designated by Lender Creditor a “Repayment Account,” that which shall be under the exclusive control of and subject to the sole order of Lender Creditor and that which shall be subject to the imposition of such customary charges as are imposed by Creditor from time to time upon such accounts by the financial institution at which such account is maintainedaccounts, for the deposit of cash, checks, drafts, money orders, orders and other items of payments constituting Collateral or proceeds of Collateral from which Lender Creditor may, in its sole discretion, at any time and from time to time, withdraw all or any part. LenderCreditor’s collection and enforcement of Collateral against account borrowers debtors and other persons obligated thereon shall be deemed to be commercially reasonable if Lender Creditor exercises the care and follows the procedures that a commercially reasonable lender Creditor generally applies to the collection of obligations owed to itCreditor. All cash and non- non-cash proceeds of the Collateral may be applied by Lender Creditor upon LenderCreditor’s actual receipt of cash proceeds against such of the Obligations, matured or unmatured, as Lender Creditor shall determine in LenderCreditor’s sole discretion.

Collateral Collections. After At any time following the occurrence of an Event of Default shall have occurredDefault, subject to the first priority rights of the Prior Secured Party under the Existing Credit Agreements, Lender Bank shall have the right at any and all times to enforce Borrower’s rights against account borrowers and other parties obligated on Collateral, including, but not limited to, the right to: (a) notify and/or require Borrower to notify any or all account borrowers debtors and other parties obligated obligors on Collateral Receivables to make payments thereon directly to Lender Bank or in care of a post office lock box under the sole control of Lender Bank established at Borrower’s 's expense subject to Lender’s Bank's customary arrangements and charges therefor, and to take any or all action with respect to Collateral Receivables as Lender Bank shall determine in its sole discretion, including, without limitation, the right to demand, collect, xxx for, for and receive any money or property at any time due, payable, payable or receivable on account thereof, compromise and settle with any person liable thereon, and extend the time of payment or otherwise change the terms thereof, without incurring liability or responsibility to BorrowerBorrower or any guarantor therefor; (b) require Borrower to segregate and hold in trust for Lender Bank and, on the day of Borrower’s 's receipt thereof, transmit to Lender Bank in the exact form received by Borrower (except for such assignments and endorsements as may be required by LenderBank), all cash, checks, drafts, money orders, orders and other items of payment constituting Collateral or proceeds of CollateralCollateral for application, upon collection when applicable, against such of the Obligations, whether matured or unmatured, as Bank shall determine in its sole discretion; and/or (c) establish and maintain at Bank a financial institution designated by Lender a “"Repayment Account” that ," which shall be under the exclusive control of and subject to the sole order of Lender Bank and that which shall be subject to the imposition of such customary charges as are imposed by Bank from time to time upon such accounts by the financial institution at which such account is maintainedaccounts, for the deposit deposit, as a tender of payment of the Obligations, of cash, checks, drafts, money orders, orders and other items of payments payment constituting Collateral or proceeds of Collateral coming into Bank's possession pursuant to the terms of this Agreement and from which Lender Bank may, in its sole discretion, at any time and from time to time, withdraw all or any part. Lender’s collection and enforcement of Collateral against account borrowers and other persons obligated thereon shall be deemed to be commercially reasonable if Lender exercises the care and follows the procedures that a commercially reasonable lender generally applies to the collection of obligations owed to it. All cash and non- cash proceeds part of the Collateral may be applied by Lender upon Lender’s actual receipt of cash proceeds balance for application against such of the Obligations, whether matured or unmatured, as Lender Bank shall determine in Lender’s its sole discretion.