Covenants for Accounts Sample Clauses
Covenants for Accounts. If accounts are included in the definition of Collateral:
(a) The Grantor will, on the Bank’s demand, make notations on its books and records showing the Bank’s security interest and make available to the Bank shipping and delivery receipts evidencing the shipment of the goods that gave rise to an account, completion certificates or other proof of the satisfactory performance of services that gave rise to an account, a copy of the invoice for each account and copies of any written contract or order from which an account arose. The Grantor shall promptly notify the Bank if an account becomes evidenced or secured by an instrument or chattel paper and upon the Bank’s request, will promptly deliver any such instrument or chattel paper to the Bank, including any letter of credit delivered to the Grantor to support a shipment of inventory by the Grantor.
(b) The Grantor will promptly advise the Bank whenever an account debtor refuses to retain or returns any goods from the sale of which an account arose and will comply with any instructions that the Bank may give regarding the sale or other disposition of such returns. From time to time with such frequency as the Bank may request, the Grantor will report to the Bank all credits given to account debtors on all accounts.
(c) The Grantor will immediately notify the Bank if any account arises out of contracts with the United States or any department, agency or instrumentality thereof, and will execute any instruments and take any steps required by the Bank so that all monies due and to become due under such contract shall be assigned to the Bank and notice of the assignment given to and acknowledged by the appropriate government agency or authority under the Federal Assignment of Claims Act.
(d) At any time after the occurrence of an Event of Default, and without notice to the Grantor, the Bank may direct any persons who are indebted to the Grantor on any Collateral consisting of accounts or general intangibles to make payment directly to the Bank of the amounts due. The Bank is authorized to collect, compromise, endorse and sell any such Collateral in its own name or in the Grantor’s name and to give receipts to such account debtors for any such payments and the account debtors will be protected in making such payments to the Bank. Upon the Bank’s written request, the Grantor will establish with the Bank and maintain a lockbox account (“Lockbox”) with the Bank and a depository account(s) (“Cash Collateral Account”)...
Covenants for Accounts. With respect to accounts, accounts receivable and general intangibles that are included in the definition of Collateral, upon the occurrence and during the continuance of an Event of Default, at the request of Secured Party, but subject to the Consent and Agreement (including, without limitation, the requirements that payments in respect thereof shall be made to the PRF/Cambrex Lockbox Account), each Grantor will direct any persons who are indebted to such Grantor on any Collateral consisting of accounts, accounts receivable or general intangibles to make payment directly to Secured Party.
Covenants for Accounts. (i) The Grantor will, on the Creditor’s reasonable demand, make notations on its books and records showing the Creditor’s security interest.
(ii) From time to time with such reasonably frequency as the Creditor may request however not more than once a calendar quarter, the Grantor will report to the Creditor all credits given to account debtors on all accounts.
Covenants for Accounts. Without violating, and subject to, the provisions of the Loan Agreement:
(a) The Grantor will, on the Lender’s reasonable demand, make notations on its books and records showing the Lender’s security interest.
(b) From time to time with such frequency as the Lender may reasonably request, the Grantor will report to the Lender all credits given to account debtors on all accounts.
(c) At any time after the occurrence of an Event of Acceleration, and without notice to the Grantor, the Lender may direct any persons who are indebted to the Grantor on any Collateral consisting of accounts or general intangibles to make payment directly to the Lender of the amounts due. The Lender is authorized to collect, compromise, endorse and sell any such Collateral in its own name or in the Grantor’s name and to give receipts to such account debtors for any such payments and the account debtors will be protected in making such payments to the Lender.
Covenants for Accounts. If accounts are included in the definition of Collateral:
(a) The Grantor will promptly after the Secured Party’s written demand, make notations on its books and records showing the Secured Party’s security interest and make available to the Secured Party copies of shipping and delivery receipts evidencing the shipment of the goods that gave rise to an account, completion certificates or other proof of the satisfactory performance of services that gave rise to an account, a copy of the invoice for each account and copies of any written contract or order from which an account arose. The Grantor shall promptly notify the Secured Party if an account becomes evidenced or secured by an instrument or chattel paper and upon the Secured Party’s request will promptly deliver any such instrument or chattel paper to the Secured Party, including any letter of credit delivered to the Grantor to support a shipment of inventory by the Grantor.
(b) The Grantor will immediately notify the Secured Party if any account arises out of contracts with the United States or any department, agency or instrumentality thereof, and will execute any instruments and take any commercially reasonable steps reasonably required by the Secured Party so that all monies due and to become due under such contract shall be assigned to the Secured Party and notice of the assignment given to and acknowledged by the appropriate government agency or authority under the Federal Assignment of Claims Act.
Covenants for Accounts. If accounts are included in the definition of Collateral:
(a) The Grantor will, on the Agent's demand after the occurrence of an Event of Default, make available to the Agent shipping and delivery receipts evidencing the shipment of the goods that gave rise to an account, completion certificates or other proof of the satisfactory performance of services that gave rise to an account, a copy of the invoice for each account and copies of any written contract or order from which an account arose. The Grantor shall promptly notify the Agent if an account becomes evidenced or secured by an instrument or chattel paper and upon the Agent's request, will promptly deliver any such instrument or chattel paper to the Agent, including any letter of credit delivered to the Grantor to support a shipment of inventory by the Grantor.