Collection of Accounts and Other Proceeds. The Companies, at their expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Companies’ business subject to the terms hereof. The Companies agree to direct their account debtors to send payments on all Accounts directly to a lockbox associated with a Depository Account, and to include on all of the Companies’ invoices the address of such a lockbox as the sole address for remittance of payment. Notwithstanding the foregoing, should any Company ever receive any payment on an Account or other Proceeds of the sale of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, such Company agrees to hold such proceeds in trust for the Agent, for the benefit of the Agent and the Lenders, separate from such Company’s other property and funds, and to deposit such proceeds directly into a Depository Account on the Business Day received.
Collection of Accounts and Other Proceeds. The Borrowers, at their expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Borrowers’ business subject to the terms hereof. Each Borrower shall execute with each applicable depository institution a Deposit Account Control Agreement and such other agreements related to each bank account of Borrowers (except as set forth below) as the Administrative Agent may require. Each Borrower shall, within sixty (60) days after the Closing Date, execute with each applicable depository institution a Deposit Account Restriction Agreement and such other agreements related to each bank account of Borrowers for which collections of Accounts from a Governmental Account Debtor are held as Administrative Agent may require. Upon receipt of any payment on an Account or other proceeds of the sale of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, each Borrower shall deposit such proceeds directly into a bank account of such Borrower which is subject to a Deposit Account Control Agreement or Deposit Account Restriction Agreement, as applicable within three (3) Business Days.
Collection of Accounts and Other Proceeds. The Companies, at their expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Companies’ business subject to the terms hereof. The Companies agree to direct their account debtors to send payments on all Accounts directly to the Agent Lockbox or other lockbox associated with a Depository Account, and to include on all of the Companies’ invoices the address of the Agent Lockbox or such other lockbox, as the sole address for remittance of payment. Notwithstanding the foregoing, subject to Section 3.2(b) below, should any Company ever receive any payment on an Account or other Proceeds of the sale or other disposition of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, such Company agrees to hold such proceeds in trust for the Agent, for the benefit of the Lenders, separate from such Company’s other property and funds, and to deposit such proceeds directly into a Depository Account as promptly as practicable following receipt, but in no event later than the next Business Day; provided, however, with respect to credit card receipts due from American Express, until the Agent requires that all sums due to the Companies from American Express be deposited directly to a Depository Account or the Agent’s Bank Account pursuant to Section 3.2(g) of this Financing Agreement, the Companies shall deposit such credit card receipts directly into a Depository Account no later than the end of the week in which such payment is received or as more frequently as the Agent shall require.
Collection of Accounts and Other Proceeds. The Borrowers, at their expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Borrowers’ business subject to the terms hereof. The Borrowers shall deposit payments on all Accounts directly to one or more Controlled Accounts. Notwithstanding the foregoing, should any Borrower ever receive any payment on an Account or other proceeds of the sale of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, such Borrower agrees to hold such proceeds separate from such Borrower’s other property and funds, and to deposit such proceeds directly into the bank account(s) maintained pursuant to this subsection within three (3) Business Days.
Collection of Accounts and Other Proceeds. The Borrowers, at their expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Borrowers’ business subject to the terms hereof. The Borrowers agree to direct all of their account debtors to send payments on all Accounts directly to one or more Blocked Accounts. Notwithstanding the foregoing, should any Borrower ever receive any payment on an Account or other proceeds of the sale of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, such Borrower agrees to hold such proceeds in trust for the benefit of the Administrative Agent and separate from such Borrower’s other property and funds, and to deposit such proceeds directly into a Blocked Account within three (3)
Collection of Accounts and Other Proceeds. The Company, at its expense, will enforce and collect payments and other amounts owing on all of its Accounts in the ordinary course of the Company’s business subject to the terms hereof. The Company agrees to direct all of its account debtors to send payments on all of its Accounts directly to a lockbox associated with a Depository Account, and to include on all of the Company’s invoices the address of such a lockbox as the sole address for remittance of payment. Notwithstanding the foregoing, should the Company or any other Credit Party ever receive any payment on an Account or other Proceeds of the sale of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, such Credit Party agrees to hold such proceeds in trust for the Agent, for the benefit of the Lenders (and Contrarian, subject to the terms of the Contrarian Intercreditor Agreement), separate from such Credit Party’s other property and funds, and to deposit such proceeds directly into a Depository Account within one (1) Business Day after receipt.
Collection of Accounts and Other Proceeds. The Borrowers, at their expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Borrowers’ business subject to the terms hereof. The Borrowers shall deposit and agree to direct all of their account debtors to deposit payments on all Accounts directly to one or more Controlled Accounts. Notwithstanding the foregoing, should any Borrower ever receive any payment on an Account or other proceeds of the sale of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, such Borrower agrees to hold such proceeds separate from such Borrower’s other property and funds, and to deposit such proceeds directly into the bank account(s) maintained pursuant to this subsection within [***] Business Days.
Collection of Accounts and Other Proceeds. The Company, at its expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Company's business subject to the terms hereof. The Company agrees to direct its account debtors and any credit card processors to send payments on all Accounts directly to a lockbox associated with a Depository Account or the Depository Account directly, as the case may be, and to include on all of the Company's invoices the address of such a lockbox as the sole address for remittance of payment. Notwithstanding the foregoing, should the Company ever receive any payment on an Account or other Proceeds of the sale of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, the Company agrees to hold such proceeds in trust for CIT, separate from the Company's other property and funds, and to deposit such proceeds directly into a Depository Account not more than two (2) Business Days after receipt.
Collection of Accounts and Other Proceeds. The Company, at its expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Company's business subject to the terms hereof. The Company agrees to direct (and cause the relevant Originator to direct) the account debtors to send payments on all Accounts (i) prior to the establishment of the Depository Accounts, directly to an Existing Depository Account (or lockbox related thereto) and (ii) thereafter, directly to a lockbox associated with a Depository Account, and to include (or cause the relevant Originator to include) on all invoices relating to any Accounts the address of such a lockbox as the sole address for remittance of payment. Notwithstanding the foregoing, should the Company or the Originators ever receive any payment on an Account or other Proceeds of the sale of Collateral, including checks, cash, receipts from credit card sales and receipts, notes or other instruments or property with respect to any Collateral, the Company agrees (and agrees to cause the applicable Originator) to hold such Proceeds in trust for the Agent, for the benefit of the Lenders, separate from the Company's or Originators' other property and funds, and to deposit such Proceeds directly into a Depository Account within one (1) Business Day.
Collection of Accounts and Other Proceeds. The Company, at its expense, will enforce and collect payments and other amounts owing on all Accounts in the ordinary course of the Company’s business subject to the terms hereof. Commencing on or before the tenth (10th) day following the Closing Date, the Company agrees to direct its account debtors to send payments on all Accounts to the Company and, to promptly deposit such payments and other cash Proceeds of Collateral in a Depository Account. Until so deposited, the Company agrees to hold such cash Proceeds of Collateral in trust for CIT, separate from the Company’s other property and funds.
