Common use of Collection and Maintenance of Collateral Clause in Contracts

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuingcontinuing or Laurus believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify Company's and each Company’s Eligible Subsidiary's Accounts from time to time, but not more often than once every three (3) months, months unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus' account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of Company or any CompanyEligible Subsidiary, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) and/or any such Eligible Subsidiary upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each of Company and each Eligible Subsidiary hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuingcontinuing or Laurus believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesNote, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after upon Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus' account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any CompanyAccounts, it shall (i) apply all such proceeds, as required, proceeds to amounts repay the then outstanding under Loans to the Notes, extent they exceed the Minimum Borrowing Amount and (ii) then shall remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) ), if any, to Company Agent (for by the benefit of the applicable Companies) upon request (but no more often than twice a week)next succeeding Business Day. Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) use commercially reasonable efforts to remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice automatically on a week)daily basis. Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify Company’s and each CompanyEligible Subsidiary’s Accounts from time to time, but not more often than once every three (3) months, months unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus’ account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of Company or any CompanyEligible Subsidiary, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) and/or any such Eligible Subsidiary upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each of Company and each Eligible Subsidiary hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three six (36) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after of Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesNote, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three four (34) months, months (unless an Event of Default has occurred and is continuing, ) utilizing an audit control company or any other agent of Laurus; provided that, so long as no Event of Default has occurred and is continuing, such verification shall be substantially similar to the verification performed by Laurus’ agent prior to the Closing Date. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of that Laurus receives such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall on the same Business Day as receipt (i) apply such proceeds, as required, proceeds to principal amounts outstanding under the NotesRevolving Note, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice three times a week). Any interest earned on the funds not so requested shall be for the benefit of the Companies. Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus Lender may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of LaurusLender. (b) Proceeds of Accounts received by Laurus Lender will be deemed received on the Business Day after Laurus’ Lender’s receipt of such proceeds in good funds in dollars of the United States of America to an account designated by LaurusLender. Any amount received by Laurus Lender after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus Lender receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesNote, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus Lender hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, LaurusLender, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus Lender shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus Lender a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) 9.1 Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) 9.2 Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) 9.3 As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each the Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, or Laurus believes that such verification is necessary to preserve or protect the Collateral utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any the Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to the Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each the Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify Company’s and each CompanyEligible Subsidiary’s Accounts from time to time, but not more often than once every three (3) months, months unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus’ account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of Company or any CompanyEligible Subsidiary, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesRevolving Note, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) and/or any such Eligible Subsidiary upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each of Company and each Eligible Subsidiary hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus Calliope may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuingcontinuing or Calliope believes in the exercise of its commercially reasonable discretion that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. (b) Calliope. Proceeds of Accounts received by Laurus Calliope will be deemed received on the Business Day after Laurus’ Calliope's receipt of such proceeds in good funds in dollars of the United States of America to an account designated by LaurusCalliope. Any amount received by Laurus Calliope after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) . As Laurus Calliope receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus Calliope hereunder) to the Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a per week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, LaurusCalliope, at its option, may (ax) apply such proceeds to the Obligations in such order as Laurus Calliope shall elect, (by) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus Calliope a security interest in such cash collateral amounts as security for the Obligations and/or (cz) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three four (34) months, unless an Event of Default has occurred and is continuingcontinuing or Laurus believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. Unless an Event of Default has occurred, Companies shall only be required to reimburse Laurus for no more than $30,000 in audit costs in the aggregate during each fiscal year. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesRevolving Note, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus The Agent may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurusthe Agent or the Lenders. (b) Proceeds of Accounts received by Laurus the Agent will be deemed received on the Business Day after Laurus’ the Agent’s receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurusthe Agent. Any amount received by Laurus the Agent after 12:00 noon 1:00 pm (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus the Agent receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus Creditor Parties hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurusthe Agent, at its option, may (ax) apply such proceeds to the Obligations in such order as Laurus the Agent shall elect, (by) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus the Agent for the ratable benefit of the Creditor Parties a security interest in such cash collateral amounts as security for the Obligations and/or (cz) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuingcontinuing or Laurus believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesSecured Revolving Note, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week)promptly. Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus Calliope may verify each CompanyParent’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuingSecurity Agreement continuing or Calliope believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of LaurusCalliope. (b) Proceeds of Accounts received by Laurus Calliope will be deemed received on the Business Day after Laurus’ Calliope’s receipt of such proceeds in good funds in dollars of the United States of America to an account designated by LaurusCalliope. Any amount received by Laurus Calliope after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus Calliope receives the proceeds of Accounts of any CompanyParent, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus Calliope hereunder) to Company Agent (for the benefit of the applicable CompaniesParent) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, LaurusCalliope, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus Calliope shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company Parent hereby grants to Laurus Calliope a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each the Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. So long as no Default or Event of Default shall have occurred and be continuing and/or Laurus does not believe such verifications are necessary to preserve or protect the Collateral or its rights and remedies under this Agreement and applicable law, Laurus shall not verify the Company's Accounts more than four (4) times during any calendar year and not more than two (2) times during any consecutive six (6) month period. (b) Proceeds Laurus will credit (conditional upon final collection) all proceeds of Accounts received to the Company's account five (5) Business Days after receipt by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus' account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any CompanyAccounts, it shall (i) apply such proceedsproceeds to (A) Revolving Credit Advances including Overadvances made by Laurus, as requiredif any, (B) the interest and fees earned by Laurus with respect to amounts outstanding under the Notessuch Accounts, and (iiC) remit all such remaining proceeds (net of interestany amounts otherwise due Laurus including, fees without limitation, pursuant to Sections 2, 5(b), 21 and other amounts 25 hereof which have theretofore not been paid, and if no Revolving Credit Advances are then due and owing outstanding, pay to Laurus hereunder) to the Company Agent (for in weekly intervals the benefit of the applicable Companies) upon request (but no more often than twice a week)aggregate amount so collected. Notwithstanding the foregoing, following Following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) Laurus shall have the right to apply such all proceeds of Accounts to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus The Agent may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurusthe Agent or the Lenders. (b) Proceeds of Accounts received by Laurus the Agent will be deemed received on the Business Day after Laurus’ the Agent’s receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurusthe Agent. Any amount received by Laurus the Agent after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus the Agent receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus Creditor Parties hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurusthe Agent, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus the Agent shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus the Agent for the ratable benefit of the Creditor Parties a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus Calliope may verify each Company’s Accounts from time to time, but not more often than once every three (3) monthstimes during the first three (3) fiscal quarters of any fiscal year, unless an Event of Default has occurred and is continuingcontinuing or Calliope believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of LaurusCalliope. (b) Proceeds of Accounts received by Laurus Calliope will be deemed received on the Business Day after Laurus’ Calliope’s receipt of such proceeds in good funds in dollars of the United States of America to an account designated by LaurusCalliope. Any amount received by Laurus Calliope after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus Calliope receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesSecured Revolving Note, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus Calliope hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, LaurusCalliope, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus Calliope shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify Company's and each Company’s Eligible Subsidiary's Accounts from time to time, but not more often than once every three (3) months, months unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of Company or any CompanyEligible Subsidiary, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) and/or any such Eligible Subsidiary upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each of Company and each Eligible Subsidiary hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no . 07/08/2005 11 more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuingcontinuing or Laurus believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding and then due under the Revolving Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s and Stockeryale Canada’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any CompanyCompany and/or Stockeryale Canada, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesNote, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuingcontinuing or Laurus reasonably believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. Absent a continuing Event of Default, if requested by Companies, a representative of the Companies may participate in such verification. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Upon five (5) Business Days prior written notice (provided, if an Event of Default has occurred and is continuing no such prior notice shall be required), Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuingcontinuing or Laurus believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesNote, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week)request. Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after upon Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus’ account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any CompanyAccounts, it shall (i) apply all such proceeds, as required, proceeds to amounts repay the then outstanding under Loans to the Notes, extent they exceed the Minimum Borrowing Amount and (ii) then shall remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) ), if any, to Company Agent (for by the benefit of the applicable Companies) upon request (but no more often than twice a week). next succeeding Business Day .. Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after same day of Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon p.m. (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a weekonce each Business Day). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three six (36) months, unless an Event of Default has occurred and is continuingcontinuing or Laurus believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon 3:00 p.m. (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each the Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. So long as no Default or Event of Default shall have occurred and be continuing and/or Laurus does not believe such verifications are necessary to preserve or protect the Collateral or its rights and remedies under this Agreement and applicable law, Laurus shall not verify the Company's Accounts more than four (4) times during any calendar year and not more than two (2) times during any consecutive six (6) month period. (b) Proceeds Laurus will credit (conditional upon final collection) all proceeds of Accounts received to the Company's account three (3) Business Days after receipt by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus' account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any CompanyAccounts, it shall (i) apply such proceedsproceeds to (A) Revolving Credit Advances including Overadvances made by Laurus, as requiredif any, (B) the interest and fees earned by Laurus with respect to amounts outstanding under the Notessuch Accounts, and (iiC) remit all such remaining proceeds (net of interestany amounts otherwise due Laurus including, fees without limitation, pursuant to Sections 2, 5(b) and other amounts 22 hereof which have theretofore not been paid, and if no Revolving Credit Advances are then due and owing outstanding, pay to Laurus hereunder) to the Company Agent (for in weekly intervals the benefit of the applicable Companies) upon request (but no more often than twice a week)aggregate amount so collected. Notwithstanding the foregoing, following Following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) Laurus shall have the right to apply such all proceeds of Accounts to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each the Company’s 's and the Eligible Subsidiaries' Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Companythe Company and the Eligible Subsidiaries, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesSecured Revolving Note, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to the Company Agent (for the benefit of the applicable CompaniesCompany) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each the Company’s and Guarantor Subsidiary’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds Laurus will credit (conditional upon final collection) all proceeds of Accounts received by Laurus will be deemed received on to the Company’s account one (1) Business Day after Laurus’ receipt by Laurus of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus’ account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any CompanyAccounts, it shall (i) apply such proceedsproceeds to (A) Revolving Credit Advances including Overadvances made by Laurus, as requiredif any, (B) the interest and fees earned by Laurus with respect to amounts outstanding under the Notessuch Accounts, and (iiC) remit all such remaining proceeds any undisputed amounts otherwise due Laurus pursuant to Sections 2, 5(b), 20 and 24 hereof which have theretofore not been paid, and if no Revolving Credit Advances are then outstanding, pay to the Company within two (net 2) business days the aggregate amount (in excess of interest, fees and other amounts then due and owing to Laurus hereunder$7,500) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week)so collected. Notwithstanding the foregoing, following Following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) Laurus shall have the right to apply such all proceeds of Accounts to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may may, at its expense, verify each Company’s Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesNote, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, months unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus' account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any CompanyAccounts, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify Company's and each Company’s Eligible Subsidiary's Accounts from time to time, but not more often than once every three (3) months, months unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus' account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of Company or any CompanyEligible Subsidiary, it shall (i) apply such proceeds, as required, to amounts the outstanding under the NotesObligations, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) and/or any such any such Eligible Subsidiary upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each of Company and each Eligible Subsidiary hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoingforegoing until the Obligations are fully paid.

Collection and Maintenance of Collateral. (a) Laurus may verify Company’s and each CompanyEligible Subsidiary’s Accounts from time to time, but not more often than once every three (3) months, months unless an Event of Default has occurred and is continuingcontinuing or Laurus believes that such verification is necessary to preserve or protect the Collateral, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus’ account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of Company or any CompanyEligible Subsidiary, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) and/or any such Eligible Subsidiary upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each of Company and each Eligible Subsidiary hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s 's Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the same Business Day after Laurus’ receipt of on which Laurus receives such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each Company’s Accounts from time to time, but not more often than once every three six (36) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any Company, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no more often than twice once a weekday). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify Company's and each Company’s Eligible Subsidiary's Accounts from time to time, but not more often than once every three (3) months, months unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus' account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of Company or any CompanyEligible Subsidiary, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesRevolving Note, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) and/or any such Eligible Subsidiary upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each of Company and each Eligible Subsidiary hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may verify each the Company’s Accounts 's and the Eligible Subsidiaries' Mortgage Loans from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus. (b) Proceeds of Accounts Payment pursuant to the Mortgage Loans received by Laurus will be deemed received on the Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by Laurus. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts such Mortgage Loans of any Companythe Company and the Eligible Subsidiaries, it shall (i) apply such proceeds, as required, to amounts outstanding under the NotesSecured Revolving Note, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to the Company Agent (for the benefit of the applicable CompaniesCompany) upon request (but no more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.

Collection and Maintenance of Collateral. (a) Laurus may at any time verify each Company’s Companies' Accounts from time to time, but not more often than once every three (3) months, unless an Event of Default has occurred and is continuing, utilizing an audit control company or any other agent of Laurus; provided, -------- however, so long as no Event of Default shall have occurred and be continuing, ------- Laurus shall not charge Companies for more than two such verifications during any calendar year. (b) Proceeds of Accounts received by Laurus will be deemed received on the fifth (5th) Business Day after Laurus’ ' receipt of such proceeds in good funds in dollars of the United States of America to an account designated by in Laurus' account. Any amount received by Laurus after 12:00 noon (New York time) on any Business Day shall be deemed received on the next Business Day. (c) As Laurus receives the proceeds of Accounts of any CompanyAccounts, it shall (i) apply such proceeds, as required, to amounts outstanding under the Notes, and (ii) remit all such remaining proceeds (net of interest, fees and other amounts then due and owing to Laurus hereunder) to Company Agent (for the benefit of the applicable Companies) upon request (but no not more often than twice a week). Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, Laurus, at its option, may (a) apply such proceeds to the Obligations in such order as Laurus shall elect, (b) hold all such proceeds as cash collateral for the Obligations and each such Company hereby grants to Laurus a security interest in such cash collateral amounts as security for the Obligations and/or (c) do any combination of the foregoing.