Collection and Maintenance of Collateral and Records Sample Clauses

Collection and Maintenance of Collateral and Records. Lender may at any time verify Borrower's or any Subsidiary Guarantors' Receivables utilizing an audit control company or any other agent of Lender provided that prior to an Event of Default, Lender shall do so only at reasonable intervals. Lender or Lender's designee may notify Customers, at any time at Lender's sole discretion, of Lender's security interest in Receivables, collect them directly and charge the collection costs and expenses to Borrower's or such Subsidiary Guarantor's account, but, unless and until Lender does so or gives Borrower and each Subsidiary Guarantor other instructions, Borrower and each Subsidiary Guarantor shall instruct all of their Customers to make payments on account of Receivables to an account under Lender's dominion and control at such bank as Lender may designate, as provided by the terms of Section 24. To the extent Borrower or any Subsidiary Guarantor receives any payments on account of Receivables, it shall hold such payments for Lender's benefit in trust as Lender's trustee and immediately deliver them to Lender in their original form with all necessary endorsements or, as directed by Lender, deposit such payments as directed by Lender pursuant to Section 23 hereof. Lender will credit (conditional upon final collection) all payments to the Borrower's account on the Settlement Date; provided that Lender shall apply all amounts so credited first to Obligations then outstanding (other than in respect of LIBO Rate Loans) and then to amounts outstanding in respect of LIBO Rate Loans; provided further that if the amount credited to Borrower's account as of the close of business on the Business Day immediately preceding such Settlement Date is in excess of an amount equal to the sum of (i) the total Obligations outstanding (after giving effect to any requests for Revolving Credit Advances or Letters of Credit to be made or issued on such Settlement Date), plus (ii) all unpaid liabilities owing to lessors, royalty holders, working interest holders, the State of Texas and other Persons who would be entitled to assert a UCC 0-000 Xxxx xx the proceeds of Borrower's or any Subsidiary Guarantor's previously collected Receivables on such Settlement Date, then the Lender, if requested by the Borrower, will make such excess available to the Borrower on such Settlement Date or the next Business Day following such Settlement Date, and, provided, further, that so long as no Incipient Event of Default or Event of Default shall have occu...
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Collection and Maintenance of Collateral and Records. Company shall keep and maintain, at its own cost and expense, satisfactory and complete records of the Collateral including, without limitation, a record of any and all payments received and any and all credits granted with respect to the Collateral and all other dealings with the Collateral. Secured Party may at any time verify Company’s Receivables utilizing an audit control company or any other agent of Secured Party. Secured Party or Secured Party’s designee may notify Customers at any time following the occurrence and during the continuance of an Event of Default, at Secured Party’s reasonable discretion, of Secured Party’s security interest in Receivables (contracts, instruments, or chattel paper as the case may be), collect them directly from the Customers or parties to contracts, instruments and chattel paper and charge the collection costs and expenses to the applicable Company’s account, but, unless and until Secured Party does so or gives Company other instructions, Company shall collect all Receivables for Secured Party, receive all payments thereon for Secured Party’s benefit in trust as Secured Party’s trustee and immediately deliver them to Secured Party in their original form with all necessary endorsements or, as directed by Secured Party, deposit such payments as directed by Secured Party. Company shall provide Secured Party, as requested by Secured Party, such schedules, documents and/or information regarding the Collateral as Secured Party may require.
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Collection and Maintenance of Collateral and Records. The Collateral Agent may at any time verify the Receivables utilizing an audit control company or any other agent of the Collateral Agent. The Collateral Agent or the Collateral Agent's designee may notify Customers, at any time after a Default or Event of Default, at the Collateral Agent's sole discretion, of the Collateral Agent's security interest in Receivables, collect them directly and charge the collection costs and expenses to Greka AM, but, if requested by the Collateral Agent, the Credit Parties shall instruct all of their Customers to make payments on account of Receivables to an account under the Collateral Agent's dominion and control at such bank as the Collateral Agent may designate. To the extent any Credit Party receives any payments on account of Receivables, it shall hold such payments for the Collateral Agent's benefit in trust as the Collateral Agent's trustee and immediately deliver them to the Collateral Agent in their original form with all necessary endorsements or, as directed by the Collateral Agent, deposit such payments as directed by the Collateral Agent. All of the Credit Parties' invoices shall bear the terms stated on the applicable customer order. The Credit Parties shall provide the Collateral Agent, as requested by the Collateral Agent, such other schedules, documents and/or information regarding the Collateral as the Collateral Agent may reasonably require.
Sample 1
Collection and Maintenance of Collateral and Records. You may at any time verify our Receivables utilizing an audit control company or any other agent. You or your designee may notify Customers, at any time at your sole discretion, of your security interest in Receivables, collect them directly and charge the collection costs and expenses to our account, but, unless and until you do so or give us other instructions, we shall instruct all of our Customers to make payments on account of Receivables to an account under your dominion and control at such bank as you may designate, as provided by the terms of Section 2.2. To the extent we receive any payments on account of Receivables, we shall hold such payments for your benefit in trust as your trustee and immediately deliver them to you in their original form with all necessary endorsements or, as directed by you, deposit such payments as directed by you. You will credit (conditional upon final collection) all such payments to our account on the Payment Date. Promptly after the creation of any Receivables, we shall provide you with schedules describing all Receivables created or acquired by us and shall execute and deliver confirmatory written assignments of such Receivables to you, but our failure to execute and deliver such schedules or written confirmatory assignments of such Receivables shall not affect or limit your security interest or other rights in and to the Receivables. We shall furnish, at your request, copies of contracts, invoices or the equivalent, and any original shipping and delivery receipts for all merchandise sold or services rendered and such other documents and information as you may require. All of our invoices shall bear the terms stated on the applicable customer order, and no change from the original terms of such customer order shall be made without your prior written consent. We shall provide you on a monthly (within ten (10) days after the end of each month), or more frequent basis, as requested by you, a summary report of our current inventory, certified as true and accurate by our President or Chief Financial Officer, as well as an aged trial balance of our existing accounts payable. We shall provide you, as requested by you, such other schedules, documents and/or information regarding the Collateral as you may require. Without limiting the foregoing, we shall provide to you a
Sample 1

Related to Collection and Maintenance of Collateral and Records

  • Maintenance of Collateral Borrower will maintain the Collateral in good working condition, and Borrower will not use the Collateral for any unlawful purpose. Borrower will immediately advise Silicon in writing of any material loss or damage to the Collateral.

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • Maintenance of Accounts and Records Tenant shall keep true records and books of account of Tenant in which full, true and correct entries will be made of dealings and transactions in relation to the business and affairs of Tenant in accordance with GAAP. Tenant shall apply accounting principles in the preparation of the financial statements of Tenant which, in the judgment of and the opinion of its independent public accountants, are in accordance with GAAP, where applicable, except for changes approved by such independent public accountants. Tenant shall provide to Landlord either in a footnote to the financial statements delivered under Section 17.2 which relate to the period in which such change occurs, or in separate schedules to such financial statements, information sufficient to show the effect of any such changes on such financial statements.

  • MAINTENANCE AND INSPECTION OF COLLATERAL Grantor shall maintain all tangible Collateral in good condition and repair. Grantor will not commit or permit damage to or destruction of the Collateral or any part of the Collateral. Lender and its designated representatives and agents shall have the right at all reasonable times to examine, inspect, and audit the Collateral wherever located. Grantor shall immediately notify Lender of all cases involving the return, rejection, repossession, loss or damage of or to any Collateral; of any request for credit or adjustment or of any other dispute arising with respect to the Collateral; and generally of all happenings and events affecting the Collateral or the value or the amount of the Collateral.

  • Maintenance of Book and Records The Borrower will, and will cause its Restricted Subsidiaries to, maintain proper books of record and account containing entries of all material financial transactions and matters involving the assets and business of the Borrower and its Restricted Subsidiaries that are full, true and correct in all material respects and permit the preparation of consolidated financial statements in accordance with GAAP.

  • Operation and Maintenance of Properties The Borrower, at its own expense, will, and will cause each Subsidiary to:

  • Maintenance of Books The Company agrees to maintain, at its aforesaid office or agency, books for the registration and the registration of transfer of the Warrants.

  • PRESERVATION, MANAGEMENT AND MAINTENANCE OF MORTGAGED PROPERTY (a) Borrower shall not commit waste or permit impairment or deterioration of the Mortgaged Property.

  • Maintenance of Books and Records Ultimus shall maintain and keep current the accounts, books, records and other documents relating to the Trust’s financial and portfolio transactions as may be required by the rules and regulations of the Securities and Exchange Commission (the “SEC”) adopted under Section 31(a) of the 1940 Act. Ultimus shall cause the subject records of the Trust to be maintained and preserved pursuant to the requirements of the 1940 Act.

  • Insurance of Collateral Borrower shall maintain and pay for insurance upon all Collateral wherever located and with respect to the business of Borrower and each of its Subsidiaries, covering casualty, hazard, public liability, workers' compensation and such other risks in such amounts and with such insurance companies as are reasonably satisfactory to Agent. Borrower shall deliver certified copies of such policies to Agent as promptly as practicable, with satisfactory lender's loss payable endorsements, naming Agent as a loss payee, assignee or additional insured, as appropriate, as its interest may appear, and showing only such other loss payees, assignees and additional insureds as are satisfactory to Agent. Each policy of insurance or endorsement shall contain a clause requiring the insurer to give not less than 10 days' prior written notice to Agent in the event of cancellation of the policy for nonpayment of premium and not less than 30 days' prior written notice to Agent in the event of cancellation of the policy for any other reason whatsoever and a clause specifying that the interest of Agent shall not be impaired or invalidated by any act or neglect of Borrower, any of its Subsidiaries or the owner of the Property or by the occupation of the premises for purposes more hazardous than are permitted by said policy. Borrower agrees to deliver to Agent, promptly as rendered, true copies of all reports made in any reporting forms to insurance companies. Unless Borrower provides Agent with evidence of the insurance coverage required by this Agreement, Agent may purchase insurance at Borrower's expense to protect Agent's interests in the Properties of Borrower and its Subsidiaries. This insurance may, but need not, protect the interests of Borrower and its Subsidiaries. The coverage that Agent purchases may not pay any claim that Borrower or any Subsidiary makes or any claim that is made against Borrower or any such Subsidiary in connection with said Property. Borrower may later cancel any insurance purchased by Agent, but only after providing Agent with evidence that Borrower and its Subsidiaries have obtained insurance as required by this Agreement. If Agent purchases insurance, Borrower will be responsible for the costs of that insurance, including interest and any other charges Agent may impose in connection with the placement of insurance, until the effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to the Obligations. The costs of the insurance may be more than the cost of insurance that Borrower and its Subsidiaries may be able to obtain on their own.

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