Common use of Collection of Accounts, General Intangibles and Negotiable Collateral Clause in Contracts

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s designee may (a) notify Account Debtors of Borrower that Borrower’s Accounts, chattel paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Borrower agrees that it will hold in trust for Lender, as Lender’s trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver such Collections to Lender or a Cash Management Bank in their original form as received by Borrower or its Subsidiaries.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s designee may (a) notify Account Debtors of Borrower that Borrower’s the Accounts, chattel paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s the Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Borrower agrees that it will hold in trust for Lender, as Lender’s trustee, any of its or its Subsidiaries’ Collections collections that it receives and immediately will deliver such Collections said collections to Lender or a Cash Management Bank in their original form as received by Borrower or its SubsidiariesBorrower.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s 's designee may (a) notify Account Debtors of Borrower that Borrower’s 's Accounts, chattel paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s 's Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Borrower agrees that it will hold in trust for Lender, as Lender’s 's trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver such Collections to Lender or a Cash Management Bank in their original form as received by Borrower or its SubsidiariesBorrower.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s 's designee may (a) notify Account Debtors of Borrower that Borrower’s 's Accounts, chattel paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s 's Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Borrower agrees that it will hold in trust for Lender, as Lender’s 's trustee, any of its or its Subsidiaries’ ' Collections that it receives and immediately will deliver such Collections to Lender or a Cash Management Bank in their original form as received by Borrower or its Subsidiaries.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s designee may (a) notify Account Debtors of Borrower Borrowers that Borrower’s Borrowers’ Accounts, chattel paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s Borrowers’ Accounts, chattel paper, or General Intangibles directly and charge the reasonable collection costs and expenses to the Loan Account. Each Borrower agrees that it will hold in trust for Lender, as Lender’s trustee, any of its or its Domestic Subsidiaries’ Collections that it receives and immediately will deliver such Collections to Lender or a Cash Management Bank in their original form as received by such Borrower or its Domestic Subsidiaries.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s 's designee may (a) notify Account Debtors of Borrower Borrowers that Borrower’s Borrowers' Accounts, chattel paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s Borrowers' Accounts, chattel paper, or General Intangibles directly and charge the reasonable collection costs and expenses to the Loan Account. Each Borrower agrees that it will hold in trust for Lender, as Lender’s 's trustee, any of its or its Domestic Subsidiaries’ ' Collections that it receives and immediately will deliver such Collections to Lender or a Cash Management Bank in their original form as received by such Borrower or its Domestic Subsidiaries.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of when an Event of DefaultDefault has occurred and is continuing, Lender or Lender’s 's designee may (a) notify customers or Account Debtors of Borrower Borrowers that Borrower’s the Accounts, chattel paperGeneral Intangibles, or General Intangibles Negotiable Collateral have been assigned to Lender or that Lender has a security interest therein, or and (b) collect Borrower’s the Accounts, chattel paperGeneral Intangibles, or General Intangibles and Negotiable Collateral directly and charge the collection costs and expenses to the Loan Account. Each Borrower agrees that it will hold in trust for Lender, as Lender’s 's trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver such said Collections to Lender or a Cash Management Bank in their original form as received by Borrower or its SubsidiariesBorrowers.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s 's designee may (a) notify Account Debtors of Borrower Borrowers that Borrower’s Borrowers' Accounts, chattel paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s Borrowers' Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Borrower agrees that it will hold in trust for Lender, as Lender’s 's trustee, any of its or its Subsidiaries’ ' Collections that it receives and immediately will deliver such Collections to Lender or a Cash Management Bank in their original form as received by such Borrower or its Subsidiaries.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender Default Agent or Lender’s Agent's designee may (a) notify Account Debtors of Borrower Borrowers that Borrower’s the Accounts, chattel paperpaper composing Collateral, or General Intangibles composing Collateral have been assigned to Lender Agent or that Lender Agent has a security interest therein, or (b) collect Borrower’s the Accounts, chattel paperpaper composing Collateral, or General Intangibles composing Collateral directly and charge the collection costs and expenses to the Loan Account. Each Borrower agrees that it will hold in trust for Lenderthe Lender Group, as Lender’s the Lender Group's trustee, any of its or its Subsidiaries’ Collections that it receives other than Collections in respect of Excluded Assets and immediately will deliver such said Collections to Lender Agent or a Cash Management Bank in their original form as received by Borrower or its Subsidiariesthe applicable Borrower.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s designee may (a) notify Account Debtors of Borrower that Borrower’s the Accounts, chattel paperChattel Paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s the Accounts, chattel paperChattel Paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Borrower agrees that it will shall hold in trust for the Lender, as the Lender’s trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver such said Collections to Lender or a Cash Management Bank in their original form as received by Borrower or its SubsidiariesBorrower.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Lender or Lender’s 's designee may (a) notify Account Debtors of Borrower that Borrower’s 's Accounts, chattel paper, or General Intangibles have been assigned to Lender or that Lender has a security interest therein, or (b) collect Borrower’s 's Accounts, chattel paper, or General Intangibles directly and charge the reasonable collection costs and expenses to the Loan Account. Borrower agrees that it will hold in trust for Lender, as Lender’s 's trustee, any of its or its Subsidiaries’ the Guarantors' Collections that it receives and immediately promptly will deliver such Collections to Lender or a Cash Management Bank in their original form as received by Borrower or its Subsidiariessuch Guarantor.