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, Agent or Agent’s designee may (a) notify Account Debtors of the Obligors that the Obligors’ Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor 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, Agent or Agent’s designee may (a) notify Account Debtors of the Obligors Borrowers that the ObligorsBorrowers’ Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the ObligorsBorrowers’ Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor 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, Agent or Agent’s designee may (a) notify Account Debtors of the Obligors Loan Parties that the Obligors’ Accounts, chattel paper, or General Intangibles constituting Collateral have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Accounts, chattel paper, or General Intangibles constituting Collateral directly and charge the collection costs and expenses to the Loan Account. Each Obligor Loan Parties agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, such deliver said Collections to Agent or a Cash Management Bank in their original form as received by such Obligor or its Subsidiariesthe applicable Loan Party.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Agent or Agent’s 's designee may (a) notify Account Debtors of the Obligors Borrowers and Guarantors that the Obligors’ Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower and Guarantor agrees that it will hold in trust for the Lender Group, as the Lender Group’s 's trustee, any of its Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, such deliver said Collections to Agent or a Cash Management Bank in their original form as received by such Obligor the applicable Borrower or its SubsidiariesGuarantor.

Collection of Accounts, General Intangibles and Negotiable Collateral. At Subject to the DIP Orders, at any time after the occurrence and during the continuation of an Event of Default, Agent or Agent’s designee may (a) notify Account Debtors of the Obligors Borrower that the Obligors’ Xxxxxxxx’s Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Borrower’s Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Xxxxxxxx agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor 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, Agent or Agent’s designee may (a) notify Account Debtors of the Obligors Borrower that the Obligors’ Borrower’s Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Borrower’s Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its or its Subsidiaries’ 137020431v13 Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor Borrower or its Subsidiaries.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation continuance of an Event of Default, Agent or Agent’s its designee may (a) notify customers or Account Debtors of the Obligors each Borrower that the Obligors’ Accounts, chattel paperGeneral Intangibles, or General Intangibles Negotiable Collateral have been assigned to Agent or that Agent for the benefit of the Lender Group has a security interest therein, or and (b) collect the Obligors’ Accounts, chattel paperGeneral Intangibles, or General Intangibles and Negotiable Collateral directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s Agent's trustee, any of its Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, such deliver said Collections to Agent or a Cash Management Bank in their original form as received by such Obligor 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, Agent or Agent’s designee may (a) notify Account Debtors of the Obligors Borrower that the Obligors’ Borrower’s Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Borrower’s Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor 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, Agent or Agent’s 's designee may (a) notify Account Debtors of the Obligors Loan Parties that the Obligors’ Accounts, chattel paper, or General Intangibles constituting Collateral have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Accounts, chattel paper, or General Intangibles constituting Collateral directly and charge the collection costs and expenses to the Loan Account. Each Obligor Loan Parties agrees that it will hold in trust for the Lender Group, as the Lender Group’s 's trustee, any of its Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, such deliver said Collections to Agent or a Cash Management Bank in their original form as received by such Obligor or its Subsidiariesthe applicable Loan Party.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Agent or Agent’s 's designee may (a) notify Account Debtors of the Obligors Borrowers that the Obligors’ Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan AccountAccount (or a sub-account thereof, as applicable). Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s 's trustee, any of its Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, such deliver said Collections to Agent or a Cash Management Bank in their original form as received by such Obligor or its Subsidiariesthe applicable Loan Party.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Agent or Agent’s 's designee may (a) notify Account Debtors of the Obligors Borrowers that the Obligors’ Borrowers' Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Borrowers' Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s 's trustee, any of its or any Guarantor's Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor Borrower or its Subsidiariesthe Guarantors.

Collection of Accounts, General Intangibles and Negotiable Collateral. At any time after the occurrence and during the continuation of an Event of Default, Agent or Agent’s designee may (a) notify Account Debtors of the Obligors Borrower that the Obligors’ Borrower’s Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Borrower’s Accounts, chattel paper, or General Intangibles directly and charge the actual out of pocket collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its or its Subsidiaries’ Collections that it receives and immediately promptly will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor Parent 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, Agent or Agent’s 's designee may (a) notify Account Debtors of the Obligors Borrower that the Obligors’ Borrower's Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Borrower's Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s 's trustee, any of its or its Subsidiaries' Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor 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, Agent or Agent’s 's designee may (a) notify Account Debtors of the Obligors Borrowers that the Obligors’ Borrowers' Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Borrowers' Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s 's trustee, any of its or its Subsidiaries' Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor 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, Agent or Agent’s designee may (a) notify Account Debtors of the Obligors Borrowers that the ObligorsBorrowers’ Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the ObligorsBorrowers’ Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its or its Subsidiaries’ Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor Borrower or its Subsidiaries.

Collection of Accounts, General Intangibles and Negotiable Collateral. At Subject to any notice requirements contained in the Orders, at any time after the occurrence and during the continuation of an Event of Default, Default Agent or Agent’s designee may (a) notify Account Debtors of the Obligors Borrowers that the Obligors’ Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s trustee, any of its Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, such deliver said Collections to Agent or a Cash Management Bank in their original form as received by such Obligor 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, Agent or Agent’s 's designee may (a) notify Account Debtors of the Obligors Borrower that the Obligors’ Borrower's Accounts, chattel paper, or General Intangibles have been assigned to Agent or that Agent has a security interest therein, or (b) collect the Obligors’ Borrower's Accounts, chattel paper, or General Intangibles directly and charge the collection costs and expenses to the Loan Account. Each Obligor Borrower agrees that it will hold in trust for the Lender Group, as the Lender Group’s 's trustee, and for Post and the lenders under the Post Loan Documents, as their trustee, any of its or its Subsidiaries' Collections that it receives and immediately will deliver, to the extent required pursuant to Section 2.7, deliver such Collections to Agent or a Cash Management Bank in their original form as received by such Obligor Borrower or its Subsidiaries.