Common use of Government Accounts Clause in Contracts

Government Accounts. Borrowers will immediately notify Lender if any of the Receivables arise out of Government Contracts for which, pursuant to the provisions of Section 3.2 (Grant of Liens), any Borrower is obligated to execute documents and take steps required by Lender in order that all moneys due and to become due under such contracts shall be assigned to Lender and notice thereof given to the Governmental Authority under the Federal Assignment of Claims Act.

Appears in 2 contracts

Samples: Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp)

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Government Accounts. The Borrowers will immediately notify the Lender if any of the Receivables arise out of Government Contracts for whichcontracts with the United States or with any other Governmental Authority. If the Lender so requires, pursuant to the provisions of Section 3.2 (Grant of Liens), applicable Borrowers shall execute any Borrower is obligated to execute documents and take any steps required by the Lender in order that all moneys due and to become due under such contracts shall be assigned to the Lender and notice thereof given to the Governmental Authority under the Federal Assignment of Claims ActAct or any other applicable Laws.

Appears in 1 contract

Samples: Financing and Security Agreement (Rand Worldwide Inc)

Government Accounts. Borrowers Borrower will immediately notify Lender if any of the Receivables arise out of Government Contracts for which, pursuant to the provisions of Section 3.2 (Grant of Liens), any Borrower is obligated to execute documents and take steps required by Lender in order that all moneys due and to become due under such contracts shall be assigned to Lender and notice thereof given to the Governmental Authority under the Federal Assignment of Claims Act.

Appears in 1 contract

Samples: Financing and Security Agreement (Gp Strategies Corp)

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Government Accounts. The Borrowers will immediately notify the Lender if any of the Receivables arise out of Government Contracts for whichcontracts with the United States or with any other Governmental Authority, pursuant to the provisions of Section 3.2 (Grant of Liens), and execute any Borrower is obligated to execute documents instruments and take any steps required by the Lender in order that all moneys due and to become due under such contracts shall be assigned to the Lender and notice thereof given to the Governmental Authority under the Federal Assignment of Claims ActAct or any other applicable Laws.

Appears in 1 contract

Samples: Financing and Security Agreement (Paradise Color Inc)

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