Common use of Debtor’s Receipt of Proceeds Clause in Contracts

Debtor’s Receipt of Proceeds. All amounts and proceeds (including instruments and writings) received by Debtor in respect of such accounts or general intangibles shall be received in trust for the benefit of Secured Party hereunder and, upon request of Secured Party, shall be segregated from other property of Debtor and shall be forthwith delivered to Secured Party in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in such manner as Secured Party deems appropriate in its sole discretion.

Appears in 10 contracts

Samples: Second Amended and Restated Security Agreement (Us Home Systems Inc), First Amended and Restated Security Agreement (Us Home Systems Inc), Second Amended and Restated Security Agreement (Us Home Systems Inc)

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Debtor’s Receipt of Proceeds. All amounts and proceeds (including instruments and writings) received by Debtor in respect of such accounts or accounts, general intangibles or chattel paper shall be received in trust for the benefit of Secured Party hereunder and, upon request of Secured Party, shall be segregated from other property of Debtor and shall be forthwith delivered to Secured Party in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in such manner as Secured Party deems appropriate in its sole discretion.

Appears in 2 contracts

Samples: Security Agreement (Karts International Inc), Note Purchase Agreement (Obsidian Enterprises Inc)

Debtor’s Receipt of Proceeds. All amounts and proceeds (including ---------------------------- instruments and writings) received by Debtor in respect of such accounts or general intangibles shall be received in trust for the benefit of Secured Party hereunder and, upon request of Secured Party, shall be segregated from other property of Debtor and shall be forthwith delivered to Secured Party in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in such manner as Secured Party deems appropriate in its sole discretion.

Appears in 1 contract

Samples: Credit Agreement (Data Return Corp)

Debtor’s Receipt of Proceeds. All amounts and proceeds (including instruments and writings) received by Debtor in respect of such any accounts or general intangibles shall be received in trust for the benefit of Secured Party hereunder and, upon request of Secured Party, shall be segregated from other property of Debtor and shall be forthwith delivered to Secured Party in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in such manner as Secured Party deems appropriate in its sole discretion.

Appears in 1 contract

Samples: Security Agreement (Dimus Partners Inc.)

Debtor’s Receipt of Proceeds. All amounts and proceeds (including instruments and writings) received by Debtor in respect of such accounts or general intangibles shall be received in trust for the benefit of Secured Party hereunder and, upon request of Secured Party, shall be segregated from other property of Debtor and and, during the continuance of an Event of Default, shall be forthwith delivered to Secured Party in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in such manner as Secured Party deems appropriate in its sole discretion.

Appears in 1 contract

Samples: Security Agreement (Amx Corp /Tx/)

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Debtor’s Receipt of Proceeds. (i) All amounts and proceeds (including instruments and writings) received by Debtor in respect of such Collateral (other than amounts of and accounts constituting Agent Receivables, proceeds of Agent Receivables or general intangibles intangibles) shall be received in trust for the benefit of Secured Party hereunder and, upon request of Secured Party, shall be segregated from other property of Debtor and shall be forthwith delivered to Secured Party in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in such manner as Secured Party deems appropriate in its sole discretion).

Appears in 1 contract

Samples: Guaranty Agreement (Ascent Assurance Inc)

Debtor’s Receipt of Proceeds. All amounts and proceeds (including instruments and writings) received by Debtor in respect of such accounts or general intangibles shall be received in trust for the benefit of Secured Party hereunder and, upon request of Secured PartyParty upon an Event Default, shall be segregated from other property of Debtor and shall be forthwith delivered to Secured Party in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in such manner as Secured Party deems appropriate in its sole discretion).

Appears in 1 contract

Samples: Credit and Security Agreement (Isecuretrac Corp)

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