Debtor’s Receipt of Proceeds. Upon the occurrence and during the continuation of an Event of Default, all amounts and proceeds (including instruments and writings) received by Debtor in respect of the Collateral shall be received in trust for the benefit of Lender hereunder and, upon the written request of Lender, shall be segregated from other property of Debtor and shall be forthwith delivered to Lender in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in accordance with the Loan Documents.
Appears in 11 contracts
Samples: Loan and Security Agreement (Dawson Geophysical Co), Loan and Security Agreement (Legacy Housing Corp), Loan and Security Agreement (Legacy Housing Corp)
Debtor’s Receipt of Proceeds. Upon the occurrence and during the continuation of an Event of Default, all amounts and proceeds (including instruments and writings) received by Debtor in respect of the Collateral shall be received in trust for the benefit of Lender hereunder and, upon the written request of Lender, shall be segregated from other property Property of Debtor and shall be forthwith delivered to Lender in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in accordance with the Loan Documents.
Appears in 3 contracts
Samples: Loan and Security Agreement (Teletouch Communications Inc), Loan and Security Agreement (Avatar Systems Inc), Loan and Security Agreement (Avatar Systems Inc)
Debtor’s Receipt of Proceeds. Upon the occurrence and during the continuation of an Event of Default, all amounts and proceeds (including instruments and writings) received by any Debtor in respect of the Collateral shall be received in trust for the benefit of Lender hereunder and, upon the written request of Lender, shall be segregated from other property of such Debtor and shall be forthwith delivered to Lender in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in accordance with the Loan Documents.
Appears in 1 contract
Samples: Pledge and Security Agreement (United eSystems, Inc.)
Debtor’s Receipt of Proceeds. Upon the occurrence and during the continuation of an Event of Default, all amounts and proceeds (including instruments and writings) received by Debtor in respect of the Collateral shall be received in trust for the benefit of Lender Collateral Agent hereunder and, upon the written request of LenderCollateral Agent, shall be segregated from other property of Debtor and shall be forthwith delivered to Lender Collateral Agent in the same form as so received (with any necessary endorsement) and applied to the Indebtedness in accordance with the Loan Debt Documents.
Appears in 1 contract
