Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that such Assignor might have done. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 4 contracts
Samples: Security Agreement, Security Agreement (Universal Compression Holdings Inc), Security Agreement (Universal Compression Inc)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any an Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 3 contracts
Samples: Credit Agreement (FSC Semiconductor Corp), Credit Agreement (Extended Stay America Inc), Credit Agreement (Eye Care Centers of America Inc)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any the Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 3 contracts
Samples: Security Agreement (Jordan Industries Inc), Security Agreement (Maple Leaf Aerospace Inc), Security Agreement (Tristar Aerospace Co)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any AssignorDebtor, each Assignor such Debtor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and or Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneDebtor (subject to the requirements of applicable law). Without Upon the occurrence and during the continuance of an Event of Default, without notice to or assent by any AssignorDebtor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this the Credit Agreement. The reasonable costs and expenses (including reasonable attorneys' ’ fees) of collection, whether incurred by any Assignor Debtor or the Collateral Agent, shall be borne by the relevant Assignorsuch Debtor.
Appears in 2 contracts
Samples: Security Agreement (Stonemor Partners Lp), Security Agreement (Stonemor Partners Lp)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, Default and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The reasonable costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any an Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 2 contracts
Samples: Credit Agreement (Sky Chefs Argentine Inc), Term Loan Agreement (Sky Chefs Argentine Inc)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Administrative Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Administrative Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (z) that the Collateral Administrative Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Administrative Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any an Assignor or the Collateral Administrative Agent, shall be borne by the relevant Assignor. The Collateral Administrative Agent shall deliver a copy of each notice referred to in the preceding clause (y) to the relevant Assignor (although no such notice shall be required upon the occurrence of an Event of Default of the type described in Section 10.05 of the Credit Agreement).
Appears in 2 contracts
Samples: Credit Agreement (Doubletree Corp), Credit Agreement (Doubletree Corp)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignordirects, each Assignor Debtor agrees (xa) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (yb) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (xa) and (zc) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneDebtors. Without notice to or assent by any Assignorthe Debtors, upon the occurrence and during the continuance of an Event of Default, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 of this Agreement. The reasonable costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor Debtor or the Collateral Agent, shall be borne by the relevant Assignor.by
Appears in 2 contracts
Samples: Credit Agreement (Tweeter Home Entertainment Group Inc), Security Agreement (Tweeter Home Entertainment Group Inc)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (zy) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that such Assignor might have done. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 1 contract
Samples: Security Agreement (JCC Holding Co)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without Upon the occurrence and during the continuance of an Event of Default, without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 8.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any the Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 1 contract
Samples: u.s. Security Agreement (Lli Inc)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each to the extent permitted by applicable law, such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any an Assignor or the Collateral Agent, shall be borne by the relevant AssignorAssignors.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without Upon the occurrence and during the continuance of an Event of Default, without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 9.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any the Assignor or the Collateral Agent, shall be borne by the relevant such Assignor.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables Accounts and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its optionoption and in accordance with applicable law, directly notify the obligors with respect to any Receivables Accounts and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may may, in accordance with applicable law, enforce collection of any such Receivables and Accounts or Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as such Assignor, provided that this sentence shall not apply to Accounts owed to St. Luke's Sub to the extent (and only to the extent) that such Assignor might have doneaction is prohibited by the St. Luke's Lease. Without Upon the occurrence and during the continuance of an Event of Default, without notice to or assent by any Assignor, the Collateral Agent may apply apply, in accordance with applicable law, any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant such Assignor.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each to the extent permitted by applicable law, such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 of this Agreement. The reasonable out-of-pocket costs and expenses (including reasonable out-of-pocket attorneys' fees) of collection, whether incurred by any an Assignor or the Collateral Agent, shall be borne by the relevant AssignorAssignors.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and or Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without Upon the occurrence and during the continuance of an Event of Default, without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' ’ fees) of collectioncollection incurred pursuant to this Section 3.3, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant such Assignor.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the First-Lien Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the First-Lien Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the First-Lien Collateral Agent may enforce collection of any such Receivables and or Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without Upon the occurrence and during the continuance of an Event of Default, without notice to or assent by any Assignor, the First-Lien Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' ’ fees) of collection, whether incurred by any Assignor or the First-Lien Collateral Agent, shall be borne by the relevant such Assignor.
Appears in 1 contract
Samples: Security Agreement (EnerSys)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that such Assignor might have done. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 1 contract
Samples: Security Agreement (JCC Holding Co)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each to the extent permitted by applicable law, such Assignor agrees (xi) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (yii) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (xi) and (zii) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any the relevant Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and or Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without Upon the occurrence and during the continuance of an Event of Default, without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant such Assignor.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, Account (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that such Assignor might have done. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The reasonable costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant such Assignor.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and or Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without Upon the occurrence and during the continuance of an Event of Default, without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' ’ fees) of collectioncollection incurred pursuant to this Section 3.3, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant such Assignor.
Appears in 1 contract
Samples: Security Agreement (Vertis Inc)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event the conditions described in the first sentence of DefaultSection 1.1(c) of this Agreement, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral AccountAccount established for such Assignor, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause clauses (x) and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that such Assignor might have done. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The reasonable costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any such Assignor or the Collateral Agent, shall be borne by the relevant such Assignor.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any AssignorDebtor, each Assignor such Debtor agrees (xa) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (yb) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (xa) and (zc) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneDebtor. Without notice to or assent by any AssignorDebtor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 of this Agreement. The reasonable costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor the relevant Debtor or the Collateral Agent, shall be borne by the relevant AssignorDebtor. The Agent shall deliver a copy of each notice referred to in the preceding clause (b) to the relevant Debtor; provided, that the failure by the Agent to so notify such Debtor shall not affect the effectiveness of such notice or the other rights of the Agent created by this Section 3.3.
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The reasonable costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any an Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
Appears in 1 contract
Samples: Credit Agreement (Howmet Corp /New/)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral AccountAgent or, upon direction of the Collateral Agent, to a separate cash collateral account established with respect to such Assignor, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that such Assignor might have done. Without , and, without notice to or assent by any such Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, any cash collateral so paid to the Cash Collateral Account Agent or account in the manner provided in Section 7.4 of this Agreement8.5. The costs and expenses (including reasonable attorneys' ’ fees) of collection, whether incurred by any an Assignor or the Collateral Agent, shall be borne by the relevant applicable Assignor.
Appears in 1 contract
Samples: Collateral Security Agreement (Huntsman International LLC)
Direction to Account Debtors; Contracting Parties; etc. Upon In the occurrence event that there shall have occurred and during the continuance of an be continuing (i) a Bankruptcy Event, or (ii) any other General Event of Default, and if but in the case of this clause (ii) only to the extent the Collateral Agent (acting at the direction of the Requisite Holders) has so directs any Assignornotified the Company, each Assignor agrees the Company agrees, to the extent permitted by law, (xa) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Concentration Account, and (yb) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) and (z) that the Collateral Agent may enforce collection of any a). In such Receivables and Contracts and may adjustevent, settle or compromise the amount of payment thereof, in the same manner and to the same extent that such Assignor might have done. Without without notice to or assent by any Assignorthe Company, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Concentration Account in the manner provided in Section 7.4 6.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor the Company or the Collateral Agent, shall be borne by the relevant AssignorCompany.
Appears in 1 contract
Samples: Note Purchase Agreement (Heritage Propane Partners L P)
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event any of Defaultthe conditions described in the first sentence of Section 1.1(c) of this Agreement, and if the Collateral Agent so directs any the Assignor, each the Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral AccountAccount established for the Assignor, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause clauses (x) and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that such the Assignor might have done. Without notice to or assent by any the Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any Assignor or the Collateral Agent, shall be borne by the relevant Assignor.Collateral
Appears in 1 contract
Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, and if the Collateral Agent so directs any Assignor, each to the extent permitted by applicable law, such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x) ), and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent that as such Assignor might have doneAssignor. Without notice to or assent by any Assignor, the Collateral Agent may apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account which application shall be effected in the manner provided in Section 7.4 of this Agreement. The costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by any the Assignor or the Collateral Agent, shall be borne by the relevant Assignor.
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Samples: Security Agreement (Transworld Home Healthcare Inc)