Collection. Each Pledgor shall use commercially reasonable efforts to collect from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 6 contracts
Samples: Security Agreement (Quest Resource Corp), Security Agreement (Quest Resource Corp), Security Agreement (Quest Resource Corp)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 5 contracts
Samples: Security Agreement (Atrium Companies Inc), Credit Agreement (SFBC International Inc), Credit Agreement (Ionics Inc)
Collection. Each Pledgor shall use commercially reasonable reasonably efforts to collect cause to be collected from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 4 contracts
Samples: Security Agreement (LL Services Inc.), Security Agreement (Language Line Costa Rica, LLC), Security Agreement (Atlantic Broadband Management, LLC)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor of each of the AccountsReceivables, as and when due in the ordinary course of business and consistent in accordance with prudent reasonable business practice judgment (including Accounts Receivables that are delinquent, such Accounts Receivables to be collected in accordance with generally accepted commercial collection proceduresprocedures unless such Pledgor shall reasonably determine that such efforts would be of negligible economic value), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such AccountReceivable, except that any Pledgor may, with respect to an Accounta Receivable, allow in the ordinary course of business (ia) a refund or credit due as a result of returned or damaged or defective merchandise and (iib) such extensions of time to pay amounts due in respect of Accounts Receivables and such other modifications of payment terms or settlements in respect of Accounts Receivables as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 2 contracts
Samples: Security Agreement (Merge Healthcare Inc), Security Agreement (Merge Healthcare Inc)
Collection. Each Pledgor Obligor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor account debtor of each of the Accountsaccounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts including, without limitation, accounts that are delinquent, such Accounts accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Accountaccount, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Accountaccount, except that any Pledgor the Obligor may, with respect to an Accountaccount, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts accounts and such other modifications of payment terms or settlements in respect of Accounts accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's the Obligor’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including including, without limitation, attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgorthe Obligor, the Administrative Collateral Agent or any Secured PartyCreditor, shall be paid by the PledgorsObligor.
Appears in 2 contracts
Samples: Credit Agreement (General Cable Corp /De/), Credit Agreement (General Cable Corp /De/)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The reasonable costs and expenses (including attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 2 contracts
Samples: Pledge and Security Agreement (PGT, Inc.), Second Lien Pledge and Security Agreement (PGT, Inc.)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 2 contracts
Samples: Security Agreement (Granite Broadcasting Corp), Security Agreement (SFBC International Inc)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor account debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including including, without limitation, Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including including, without limitation, attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 2 contracts
Samples: Credit Agreement (General Cable Corp /De/), Credit Agreement (General Cable Corp /De/)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor account debtor of each of the AccountsReceivables, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts including, without limitation, Receivables that are delinquent, such Accounts Receivables to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such AccountReceivable, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such AccountReceivable, except that any Pledgor may, with respect to an Accounta Receivable, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts Receivables and such other modifications of payment terms or settlements in respect of Accounts Receivables as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including including, without limitation, reasonable attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts to collect from the Account Debtor of each of the Accounts, as and when due in the ordinary ordi- nary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts to collect cause to be ---------- collected from the Account Debtor account debtor of each of the AccountsReceivables, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts including, without limitation, Receivables that are delinquent, such Accounts Receivables to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such AccountReceivable, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such AccountReceivable, except that any Pledgor may, with respect to an Accounta Receivable, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts Receivables and such other modifications of payment terms or settlements in respect of Accounts Receivables as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The reasonable costs and expenses (including including, without limitation, attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the PledgorsPledgor.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor account debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including reasonable and documented attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts to collect from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses ex- penses (including attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor account debtor of each of the AccountsReceivables, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts including, without limitation, Receivables that are delinquent, such Accounts Receivables to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such AccountReceivable, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such AccountReceivable, except that any Pledgor may, with respect to an Accounta Receivable, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts Receivables and such other modifications of payment terms or settlements in respect of Accounts Receivables as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including including, without limitation, attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The reasonable costs and expenses (including attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent Collateral Trustee or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Samples: Pledge and Security Agreement (Builders FirstSource, Inc.)
Collection. Each Pledgor shall use commercially reasonable efforts to collect cause to be collected from the Account Debtor account debtor of each of the AccountsReceivables, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts including, without limitation, Receivables that are delinquent, such Accounts Receivables to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such AccountReceivable, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such AccountReceivable, except that any Pledgor may, with respect to an Accounta Receivable, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts Receivables and such other modifications of payment terms or settlements in respect of Accounts Receivables as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The reasonable costs and expenses (including including, without limitation, attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the PledgorsPledgor.
Appears in 1 contract
Samples: Credit Agreement (Carson Inc)
Collection. Each Pledgor shall use commercially reasonable efforts to collect cause to be collected from the Account Debtor account debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts to collect cause to be collected from the Account Debtor account debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Notes Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent Trustee or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Samples: Security Agreement (Us Lec Corp)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor of each of the AccountsReceivables, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts Receivables that are delinquent, such Accounts Receivables to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such AccountReceivable, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such AccountReceivable, except that any Pledgor may, with respect to an Accounta Receivable, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise consistent with commercially reasonable business practice and (ii) such extensions of time to pay amounts due in respect of Accounts Receivables and such other modifications of payment terms or settlements in respect of Accounts Receivables as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Samples: Credit Agreement (Schulman a Inc)
Collection. Each Pledgor shall use commercially reasonable efforts to collect from the Account Debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts that are delinquent, such Accounts to be he collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor account debtor of each of the AccountsReceivables, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts including, without limitation, Receivables that are delinquent, such Accounts Receivables to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such AccountReceivable, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such AccountReceivable, except that any Pledgor may, with respect to an Accounta Receivable, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts Receivables and such other modifications of payment terms or settlements in respect of Accounts Receivables as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including including, without limitation, attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Samples: Security Agreement (Centennial Communications Corp /De)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected ---------- from the Account Debtor account debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice (including including, without limitation, Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including including, without limitation, attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Agent Trustee or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Samples: Security Agreement (Raceland Truck Plaza & Casino LLC)
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor account debtor of each of the AccountsReceivables, as and when due in the ordinary course of business and consistent with prudent business practice (including Accounts including, without limitation, Receivables that are delinquent, such Accounts Receivables to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such AccountReceivable, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such AccountReceivable, except that any Pledgor may, with respect to an Accounta Receivable, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts Receivables and such other modifications of payment terms or settlements in respect of Accounts Receivables as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ordinary course of business consistent with its collection practices as in effect from time to timetime or as otherwise consented by Collateral Agent. The costs and expenses (including including, without limitation, reasonable attorneys' fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the Pledgors.
Appears in 1 contract
Collection. Each Pledgor shall use commercially reasonable efforts cause to collect be collected from the Account Debtor account debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice practices (including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all in accordance with such Pledgor's ’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys' ’ fees) of collection, in any case, whether incurred by any Pledgor, the Administrative Collateral Agent or any Secured Party, shall be paid by the PledgorsPledgors in accordance with Section 10.03 of the Credit Agreement.
Appears in 1 contract
Samples: Security Agreement (Internap Network Services Corp)