Dealings with Collateral. Until the security interest hereby created becomes enforceable, the Debtor may sell its Inventory and collect its book debts in the ordinary course of its business; provided that after the security interest becomes enforceable, all book debts collected by the Debtor shall be immediately remitted to the Vendors. Until remitted, all book debts received by the Debtor shall be held by the Debtor as agent and in trust for the Vendors.
Appears in 4 contracts
Samples: Security Agreement (Teleplus Enterprises Inc), Security Agreement (Teleplus Enterprises Inc), Security Agreement (Teleplus Enterprises Inc)
