Common use of COLLECTION AND ADMINISTRATION Clause in Contracts

COLLECTION AND ADMINISTRATION. 5.1. Until our authority to do so is curtailed or terminated at any time by you, we shall, at our expense and on your behalf, collect, as your property and in trust for you, all remittances and all amounts unpaid on Accounts, and we shall not commingle such collections with our own funds. We shall on the day received remit all such collections to you in the form received duly endorsed by us for deposit with you, unless you shall direct us otherwise. All amounts collected on Accounts when received by you shall be credited to our loan account, after adding three (3) business days for collection, clearance and transfer of remittances, except for federal funds wire transfers, as to which two (2) business days shall be added, conditional upon final payment to you. 5.2. You or your representatives shall at all times have free access to and right of inspection of the Collateral and have full access to and the right to examine and make copies of our Records, to confirm and verify all Accounts, to perform general audits and to do whatever else you deem necessary to protect your interests. You may at any time remove from our premises or require us or any accountants and auditors employed by us to deliver any Records and you may, without cost or expense to you, use such of our personnel, supplies, computer equipment and space at our places of business as may be reasonably necessary for the handling of collections. 5.3. We shall immediately upon obtaining knowledge thereof report to you all reclaimed, repossessed or returned goods, Account Debtor claims and any other matter affecting the value, enforceability or collectibility of Accounts. At your request, any goods reclaimed or repossessed by or returned to us will be set aside, marked with your name and held by us for your account and subject to your security interest. All claims and disputes relating to Accounts are to be promptly adjusted within a reasonable time, at our own cost and expense. You may, at your option, settle, adjust or compromise claims and disputes relating to Accounts which are not adjusted by us within a reasonable time.

COLLECTION AND ADMINISTRATION. 5.1. Until our authority to do so is curtailed or terminated at any time by you, we shall, at our expense and on your behalf, collect, as your property and in trust for you, all remittances and all amounts unpaid on Accounts, and we shall not commingle such collections with our own funds. We shall on the day received remit all such collections to you in the form received duly endorsed by us for deposit with you, unless you shall direct us otherwise. All amounts collected on Accounts when received by you shall be credited to our loan account, after adding three five (35) business days for collection, clearance and transfer of remittances, except for federal funds wire transfers, as to which two (2) business days shall be added, * conditional upon final payment to you.you ** 5.2. You or your representatives shall at all times * have free access to and right of inspection of the Collateral and have full access to and the right to examine and make copies of our Records, to confirm and verify all Accounts, to perform general audits and to do whatever else you deem ** necessary to protect your interests. You may at any time remove from our premises or require us or any accountants and auditors employed by us to deliver any Records and you may, without cost or expense to you, use such of our personnel, supplies, computer equipment and space at our places of business as may be reasonably necessary for the handling of collections. 5.3. We shall immediately upon obtaining knowledge thereof report to you all reclaimed, repossessed or returned goods, Account Debtor claims and any other matter affecting the value, enforceability or collectibility of Accounts. * At your request, ** any goods reclaimed or repossessed by or returned to us will be set aside, marked with your name and held by us for your account and subject to your security interest. All claims and disputes relating to Accounts are to be promptly adjusted within a reasonable time, at our own cost and expense. You may, ** at your option, settle, adjust or compromise claims and disputes relating to Accounts which are not adjusted by us within a reasonable time. 5.4. We shall, in the manner requested by you from time to time, direct that all proceeds of Accounts, letters of credit, bankers' acceptances and other proceeds of Collateral shall be payable to a lock box or post office box designated by you and under your control and/or deposited into a blocked account under your control and/or deposited into an account maintained in your name and under your control and in connection therewith shall execute such lock box, blocked account or other agreement as you in your sole discretion shall specify.

COLLECTION AND ADMINISTRATION. 5.1. Until our authority to do so is curtailed or terminated at any time tune by you, we shall, at our expense and on your behalf, collect, as your property and in trust for you, all remittances and all amounts unpaid on Accounts, and we shall not commingle such collections with our own funds. We shall on the day received remit all such collections to you in the form received duly endorsed by us for deposit with you, unless you shall direct us otherwise. All amounts collected on Accounts when received by you shall be credited to our loan account, after adding three five (35) business days for collection, clearance and transfer of remittances, except for federal funds wire transfers, as to which two (2) business days shall be added, conditional upon final payment to you. 5.2. You or your representatives shall at all times have free access to and right of inspection of the Collateral and have full access to and the right to examine and make copies of our Records, to confirm and verify all Accounts, to perform general audits and to do whatever else you deem necessary to protect your interests. You may at any time remove from our premises or require us or any accountants and auditors employed by us to so deliver any Records and you may, without cost or expense to you, use such of our personnel, supplies, computer equipment and space at our places of business as may be reasonably necessary for the handling of collections. 5.3. We shall immediately upon obtaining knowledge thereof report to you all reclaimed, repossessed or returned resumed goods, Account Debtor claims and any other matter affecting the value, enforceability or collectibility of Accounts. At your request, request any goods reclaimed or repossessed by or returned to us will be set aside, marked with your name and held by us for your account and subject to your security interest. All claims and disputes relating to Accounts are to be promptly adjusted within a reasonable time, at our own cost and expense. You may, at your option, settle, adjust or compromise claims and disputes relating to Accounts which are not adjusted by us within a reasonable time. 5.4. We shall, in the manner requested by you from time to time, direct that all proceeds of Accounts, letters of credit, bankers' acceptances and other proceeds of Collateral shall be payable to a lock box or post office box designated by you and under your control and/or deposited into a blocked account under your control and/or deposited into an account maintained in your name and under your control and in connection therewith shall execute such lock box, blocked account or other agreement as you in your sole discretion shall specify.

COLLECTION AND ADMINISTRATION. 5.1. 5.1 Until our authority to do so is curtailed or terminated at any time by younotice from the Agent (which the Agent may give at any time in its sole and absolute discretion), we shall, at our expense and on your behalf, collect, as your property and in trust for you, all remittances and all amounts unpaid on Accounts, and we shall not commingle such collections with our own funds. We shall on the day received remit all such collections to you in the form received duly endorsed by us for deposit with you, unless you shall direct us otherwise. we 5.2 All amounts collected on Accounts when received by you Records shall be credited to our loan accountkept in appropriate containers in safe places, after adding three (3) business days for collectionbearing suitable legends identifying them as being under the Agent's dominion and control. The Agent, clearance RNB and transfer of remittancesNatWest, except for federal funds wire transfersor their representatives, as to which two (2) business days shall be added, conditional upon final payment to you. 5.2. You or your representatives shall at all times have free access to and right of inspection of the Collateral and have full access to and the right to examine and make copies of our Records, to confirm and verify all Accounts, to perform general audits and to do whatever else any of you deem necessary to protect any of your interests. You The Agent may at any time remove from our premises or require us or any accountants and auditors employed by us to deliver to the Agent, RNB or NatWest any Records and you the Agent may, without cost or expense to youthe Agent, RNB or NatWest, use such of our personnel, supplies, computer equipment and space at our places of business as may be reasonably necessary for the handling of collections. 5.3. 5.3 We shall immediately promptly upon obtaining knowledge thereof report to you the Agent all reclaimed, repossessed or returned goods, Account Debtor claims and any other matter affecting the value, enforceability or collectibility of Accounts. At your the Agent's request, any goods reclaimed or repossessed by or returned to us will be set aside, marked with your the Agent's name and held by us for your the Agent's account and subject to your security interest. All claims and disputes relating to Accounts are to be promptly adjusted within a reasonable time, at our own cost and expense. You The Agent may, at your option, settle, adjust or compromise claims and disputes relating to Accounts which are not adjusted by us within a reasonable time. 5.4 We shall, in the manner requested by the Agent from time to time, direct that all proceeds of Accounts, letters of credit, bankers' acceptances and other proceeds of Collateral shall be paid to a lock box or post office box designated by the Agent and under the Agent's control and/or deposited into a blocked account under the Agent's control and/or deposited into an account maintained in the Agent's name and under the Agent's control and in connection therewith shall execute such lock box, blocked account or other agreement as the Agent in its sole and absolute discretion shall specify.

COLLECTION AND ADMINISTRATION. 5.1. Until our authority to do so is curtailed or terminated at any time by you, we shall, at our expense and on your behalf, collect, as your property and in trust for you, all remittances and all amounts unpaid on Accounts, and we shall not commingle such collections with deposit same in our own fundsaccount. We Upon our default and demand by you we shall on the day received remit all such collections to you in the form received duly endorsed by us for deposit with you, unless you shall direct us otherwise. All amounts collected on Accounts when received by you shall be credited to our loan account, after adding three (3) business days for collection, clearance and transfer of remittances, except for federal funds wire transfers, as to which two (2) business days shall be added, conditional upon final payment to youaccount immediately. 5.2. You or your representatives shall at all times have free access to and right of inspection of the Collateral and have full access to and the right to examine and make copies of our Records, to confirm and verify all Accounts, to perform general audits and to do whatever else you deem necessary to protect your interests. You may at any time remove from our premises or require us or any accountants and auditors employed by us to deliver any Records and you may, without cost or expense to you, use such of our personnel, supplies, computer equipment and space at our places of business as may be reasonably necessary for the handling of collections. In connection with your periodic audits of our books and records, we agree to pay you a per diem of $750.- (maximum of $4,500.- per year). 5.3. We shall immediately upon obtaining knowledge thereof report to you all reclaimed, repossessed or returned goods, Account Debtor claims and any other matter affecting the value, enforceability or collectibility of Accounts. At your request, any goods reclaimed or repossessed by or returned to us will be set aside, marked with your name and held by us for your account and subject to your security interest. All claims and disputes relating to Accounts are to be promptly adjusted within a reasonable time, at our own cost and expense. You may, at your option, settle, adjust or compromise claims and disputes relating to Accounts which are not adjusted by us within a reasonable time.

COLLECTION AND ADMINISTRATION. 5.1. Until our authority to do so is curtailed or terminated at any time by you, we shall, at our expense and on your behalf, collect, as your property and in trust for you, all remittances and all amounts unpaid on Accounts, and we shall not commingle such collections with our own funds. We shall on the day received remit all such collections to you in the form received duly endorsed by us for deposit with you, unless you shall direct us otherwise. All amounts collected on Accounts when received by you in your account designated for such purpose shall be credited to our loan account, after adding three two (32) business days for federal funds, wire transfers and after adding two (2) business days for collection, clearance and transfer of any other form of remittances, except for federal funds wire transfers, as to which two (2) business days shall be added, conditional upon final payment to you. 5.2. You or your representatives shall at all times have free access to and right of inspection of the Collateral and have full access to and the right to examine and make copies of our Records, to confirm and verify all Accounts, to perform general audits and to do whatever else you deem necessary to protect your interests. You may at any time remove from our premises or require us or any accountants and auditors employed by us to deliver any Records and you may, without cost or expense to you, use such of our personnel, supplies, computer equipment and space at our places of business as may be reasonably necessary for the handling of collections. 5.3. We shall immediately upon obtaining knowledge thereof report to you all reclaimed, repossessed or returned goods, Account Debtor claims and any other matter affecting the value, enforceability or collectibility of Accounts. At your requestAccounts in excess of $25,000 and as to such matters for any amount, we shall report same to you monthly prior to the occurrence of an Event of Default and immediately upon obtaining knowledge thereof at any goods reclaimed time on or repossessed by or returned to us will be set aside, marked with your name and held by us for your account and subject to your security interestafter the occurrence of an Event of Default. All claims and disputes relating to Accounts are to be promptly adjusted within a reasonable time, at our own cost and expense. You may, at your option, at any time on or after the occurrence and during the continuance of an Event of Default, settle, adjust or compromise claims and disputes relating to Accounts which are not adjusted by us within a reasonable time. 5.4. We shall, in the manner requested by you from time to time, direct that all proceeds of Accounts, letters of credit, bankers' acceptances and other proceeds of Collateral shall be payable to a lock box or post office designated by you and under your control and/or deposited into a blocked account under your control and/or deposited into an account maintained in your name and under your control and in connection therewith shall execute such lock box, blocked account or other agreement as you in your sole discretion shall specify.

COLLECTION AND ADMINISTRATION. 5.1. 5.1 Until our authority to do so is curtailed or terminated at any time by you, we shall, at our expense and on your behalf, collect, as your property and in trust for you, all remittances and all amounts unpaid on Accounts, and we shall not commingle such collections with our own funds. We shall on the day received remit all such collections to you in the form received duly endorsed by us for deposit with you, unless you shall direct us otherwise. All amounts collected on Accounts when received by you shall be credited to our loan account, after adding three five (35) business days for collection, clearance and transfer of remittances, except for federal funds wire transfersfunds, as to which two (2) business days shall be added, conditional upon final payment to you. 5.2. 5.2 You or your representatives shall shall, during normal business hours and after reasonable notice prior to the occurrence of an Event of Default and at all times any time and from time to time after the occurrence of an Event of Default, have free access to and right of inspection of the Collateral and have full access to and the right to examine and make copies of our Records, to confirm and verify all Accounts, to perform general audits and to do whatever else you deem necessary to protect your interests. You may at any time remove from our premises or require us or any accountants and auditors employed by us to deliver any Records and you may, without cost or expense to you, use such of our personnel, supplies, computer equipment and space at our places of business as may be reasonably necessary for the handling of collections. 5.3. 5.3 We shall immediately upon obtaining knowledge thereof report to you all reclaimed, repossessed or returned goods, Account Debtor claims and any other matter affecting the value, enforceability or collectibility of Accounts. At your request, any goods reclaimed or repossessed by or returned to us will be set aside, marked with your name and held by us for your account and subject to your security interest. All claims and disputes relating to Accounts are to be promptly adjusted within a reasonable time, at our own cost and expense. You may, at your option, settle, adjust or compromise claims and disputes relating to Accounts which are not adjusted by us within a reasonable time. 5.4 We shall, in the manner requested by you from time to time, direct that all proceeds of Accounts, letters of credit, bankers' acceptances and other proceeds of Collateral shall be payable to a lock box or post office box designated by you and under your control and/or deposited into a blocked account under your control and/or deposited into an account maintained in your name and under your control and in connection therewith shall execute such lock box, blocked account or other agreement as you in your sole discretion shall specify.