Common use of Collections on Receivables Clause in Contracts

Collections on Receivables. (a) The Lender hereby authorizes the Borrower to collect the Receivables, subject to the Lender's direction and control, and the Lender may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Lender at any time after the occurrence and during the continuance of an Event of Default, any payments of Receivables, when collected by the Borrower, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the Borrower in the exact form received, duly indorsed by the Borrower to the Lender if required, in a Collateral Account maintained under the sole dominion and control of the Lender, subject to withdrawal by the Lender only as provided in subsection 8.3, and (ii) until so turned over, shall be held by the Borrower in trust for the Lender, segregated from other funds of the Borrower. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At the Lender's request, the Borrower shall deliver to the Lender all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts.

Collections on Receivables. (a) The Lender hereby authorizes the Borrower Pledgor to collect the Receivables, subject to the Lender's direction and control, and the Lender may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Lender at any time after the occurrence and during the continuance of an Event of Default, any payments of Receivables, when collected by the BorrowerPledgor, (i1) shall shall, subject to the Intercreditor Agreement, be forthwith (and, in any event, within two Business Days) deposited by the Borrower Pledgor in the exact form received, duly indorsed by the Borrower Pledgor to the Lender or the Snapper Lender as agent for, and bailee of, the Lender, if required, in a Collateral Account maintained under the sole dominion and control of the Lender or the Snapper Lender as agent for, and bailee of, the Lender, subject to withdrawal by the Lender (or the Snapper Lender (as, the case may be), only as provided in subsection 8.3, and (ii2) until so turned over, shall be held by the Borrower Pledgor in trust for the Lender, segregated from other funds of the BorrowerPledgor. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At the Lender's request, the Borrower Pledgor shall deliver to the Lender or the Snapper Lender as agent for, and bailee of, the Lender, all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts, but only to the extent that the Pledgor is required to do so under the Snapper Credit Agreement.

Collections on Receivables. (a) The Lender Administrative Agent hereby authorizes the Borrower each Subsidiary to collect the its Receivables, subject to the LenderAdministrative Agent's direction and control, and the Lender Administrative Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Lender Administrative Agent at any time after the occurrence and during the continuance of an Event of Default, any payments of ReceivablesReceivables of the Subsidiaries, when collected by the Borrowerany Subsidiary, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the Borrower such Subsidiary in the exact form received, duly indorsed by the Borrower such Subsidiary to the Lender Administrative Agent if required, in a Collateral Account maintained under the sole dominion and control of the LenderAdministrative Agent, subject to withdrawal by the Lender Administrative Agent for the account of the Lenders only as provided in subsection 8.37.3, and (ii) until so turned over, shall be held by the Borrower such Subsidiary in trust for the LenderAdministrative Agent and the Lenders, segregated from other funds of the Borrowersuch Subsidiary. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At the LenderAdministrative Agent's request, the Borrower each Subsidiary shall deliver to the Lender Administrative Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the its Receivables, including, without limitation, all original orders, invoices and shipping receipts.

Collections on Receivables. (a) The Lender Administrative Agent hereby authorizes the each Parent Borrower to collect the its Receivables, subject to the LenderAdministrative Agent's direction and control, and the Lender Administrative Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Lender Administrative Agent at any time after the occurrence and during the continuance of an Event of Default, any payments of ReceivablesReceivables of the Parent Borrowers, when collected by the any Parent Borrower, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the such Parent Borrower in the exact form received, duly indorsed by the such Parent Borrower to the Lender Administrative Agent if required, in a Collateral Account maintained under the sole dominion and control of the LenderAdministrative Agent, subject to withdrawal by the Lender Administrative Agent for the account of the Lenders only as provided in subsection 8.37.3, and (ii) until so turned over, shall be held by the such Parent Borrower in trust for the LenderAdministrative Agent and the Lenders, segregated from other funds of the such Parent Borrower. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At the LenderAdministrative Agent's request, the each Parent Borrower shall deliver to the Lender Administrative Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the its Receivables, including, without limitation, all original orders, invoices and shipping receipts.

Collections on Receivables. (a) The Lender Agent hereby authorizes the Borrower each Pledgor to collect the such Receivables, subject to the LenderAgent's direction and control, and the Lender Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Lender Agent at any time after the occurrence and during the continuance of an Event of Default, any payments of Receivables, when collected by the Borrowersuch Pledgor, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the Borrower such Pledgor in the exact form received, duly indorsed by the Borrower such Pledgor to the Lender Agent if required, in a Collateral Account maintained under the sole dominion and control of the LenderAgent, subject to withdrawal by the Lender Agent for the account of the Lenders only as provided in subsection 8.39.3, and (ii) until so turned over, shall be held by the Borrower such Pledgor in trust for the LenderAgent and the Lenders, segregated from other funds of the Borrowersuch Pledgor. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At Upon the Lenderoccurrence and during the continuance of an Event of Default, at the Agent's request, the Borrower each Pledgor shall deliver to the Lender Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts.

Collections on Receivables. (a) The Lender Collateral Agent hereby authorizes the Borrower Grantors to collect the Receivables, subject to the LenderCollateral Agent's direction and control, and the Lender Collateral Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Lender Collateral Agent at any time after the occurrence and during the continuance of an Event of Default, any payments of Receivables, when collected by the Borrowerany Grantor, (i1) shall be forthwith (and, in any event, within two Business Days) deposited by the Borrower such Grantor in the exact form received, duly indorsed by the Borrower such Grantor to the Lender Collateral Agent if required, in a Collateral Account maintained under the sole dominion and control of the LenderCollateral Agent, subject to withdrawal by the Lender Collateral Agent for the account of the Lenders only as provided in subsection 8.3, and (ii2) until so turned over, shall be held by the Borrower such Grantor in trust for the LenderCollateral Agent, segregated from other funds of the Borrowersuch Grantor. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At the LenderCollateral Agent's request, the Borrower each Grantor shall deliver to the Lender Collateral Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts.

Collections on Receivables. (a) The Lender hereby authorizes the Borrower to collect the Receivables, subject to the Lender's direction and control, and the Lender may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Lender at any time after the occurrence and during the continuance of an Event of Default, any payments of Receivables, when collected by the Borrower, (i1) shall be forthwith (and, in any event, within two Business Days) deposited by the Borrower in the exact form received, duly indorsed by the Borrower to the Lender if required, in a Collateral Account maintained under the sole dominion and control of the Lender, subject to withdrawal by the Lender only as provided in subsection 8.3Section 9.3, and (ii2) until so turned over, shall be held by the Borrower in trust for the Lender, segregated from other funds of the Borrower. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At the Lender's request, the Borrower shall deliver to the Lender all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts.

Collections on Receivables. (a) The Lender Agent hereby authorizes the Borrower to collect the Receivables, subject to the LenderAgent's direction and control, and the Lender Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Lender Agent at any time after the occurrence and during the continuance of an Event of Default, any payments of Receivables, when collected by the Borrower, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the Borrower in the exact form received, duly indorsed by the Borrower to the Lender Agent if required, in a Collateral Account maintained under the sole dominion and control of the LenderAgent, subject to withdrawal by the Lender Agent for the account of the Lenders only as provided in subsection 8.39.3, and (ii) until so turned over, shall be held by the Borrower in trust for the LenderAgent and the Lenders, segregated from other funds of the Borrower. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At Upon the Lenderoccurrence and continuance of an Event of Default, at the Agent's request, the Borrower shall deliver to the Lender Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts.

Collections on Receivables. (a) The Lender Agent hereby authorizes the each Borrower to collect the Receivables, Receivables subject to the LenderAgent's direction and control, and the Lender Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of when an Event of DefaultDefault has occurred and is continuing and may then direct that payments on the Receivables be made directly to the Agent, in accordance with the provisions of subsection 11. 1. If any Borrower is required by the Lender Agent, at any time after the occurrence and during the continuance of when a Default or an Event of DefaultDefault has occurred and is continuing, any payments of Receivables, when collected by the such Borrower, (i1) shall be forthwith (and, in any event, within two Business Days) deposited by the such Borrower in the exact form received, duly indorsed endorsed by the such Borrower to the Lender Agent, if required, in a Collateral Account maintained under the sole dominion and control of the LenderAgent, subject to withdrawal by the Lender Agent only as provided in subsection 8.310.3, and (ii2) until so turned over, shall be held by the such Borrower in trust for the LenderAgent, segregated from other funds of the such Borrower. (b) Each such deposit of Proceeds of Receivables shall be accompanied by a report (in the form customarily prepared by such Borrower for its internal purposes) identifying in reasonable detail the nature and source of the payments included in the deposit. (c) At the LenderAgent's request, the Borrower request at any time when a Default or an Event of Default has occurred and is continuing any or all Borrowers shall deliver to the Lender Agent, all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts.