Governmental Accounts. If any of Borrower's Accounts in excess of $ 10,000 arise out of contracts with the United States or any department, agency, or instrumentality thereof, Borrower will immediately notify the Bank thereof in writing and execute any instruments and take any steps required by the Bank in order that all monies due and to become due under such Account shall be assigned to the Bank and notice thereof given to the Government under the Federal Assignment of Claims Act.
Governmental Accounts. If more than 5% of the Accounts included in the Collateral is or becomes subject to the Federal Assignment of Claims Act, the Issuer shall immediately notify the Collateral Agent thereof in writing and execute all instruments and take all steps reasonably required by the Collateral Agent to comply with that act.
Governmental Accounts. If any of the Accounts, the face value of which exceeds One Thousand Dollars ($1,000) of any Borrower, arises out of a contract with the United States of America, or any department, agency, subdivision or instrumentality thereof, each Borrower shall promptly notify Lender thereof in writing and is to execute any instruments and take any other action required or requested by Lender to comply with the provisions of the Federal Assignment of Claims Act or any other Applicable Law.
Governmental Accounts. If the Collateral is or becomes subject to the Federal Assignment of Claims Act, the Grantor will immediately notify the Agent thereof in writing and execute all instruments and take all steps required by the Agent to comply with that act.
Governmental Accounts. If the Collateral is or becomes subject to the Federal Assignment of Claims Act, the Mortgagor will immediately notify the Mortgagee thereof in writing and execute all instruments and take all steps required by the Mortgagee to comply with that act.
Governmental Accounts. 38 6.9. Instruments and Chattel Paper. . . . . . . . . . . . . . . . . . . 39 6.10. Inventory Warranties. . . . . . . . . . . . . . . . . . . . . . . 39 6.11.
Governmental Accounts. If any of the Accounts, the face value of which exceeds Fifty Thousand Dollars ($50,000) individually or in the aggregate, arises out of a contract with the United States of America, or any department, agency, subdivision or instrumentality thereof, each Borrower shall promptly notify Agent thereof in writing and is to execute any instruments and take any other action required or requested by Agent to comply with the provisions of the Federal Assignment of Claims Act or any other Applicable Law.
Governmental Accounts. With respect to any Accounts owed by the U.S. federal government, any state or local government, or any agency, department or instrumentality thereof, as to which a valid, perfected, first-priority lien on it, or the ability to obtain direct payment of the proceeds of it, is governed by any Governmental Requirement other than the applicable UCC, Borrower shall promptly cause all actions and documents deemed appropriate by Secured Party under applicable Governmental Requirements to be taken and delivered to assign and perfect a first- priority lien on such Accounts in favor of Secured Party for Lenders, or to cause Secured Party to obtain direct payment of the proceeds of such Accounts. Notwithstanding the preceding
Governmental Accounts. Notwithstanding anything to the contrary in this Agreement, Lender and Borrowers agree that each of WMC-SA, WMC-A, Chapman and Coastal shall have soxx xxxxnion and control over the Proceeds of any Accounts which contain or constitute payments from federal or state healthcare programs, including Medicare and Medi-Cal, for medical services provided by such Borrower ("GOVERNMENTAL ACCOUNTS"). Lender and Borrowers further agree that: (a) WMC-SA, WMC-A, Chapman and Coastal shall each haxx xxxx dominion and control over their respective Deposit Accounts which contain or receive payments on Governmental Accounts (the "GOVERNMENTAL DEPOSIT ACCOUNTS") (b) the Governmental Deposit Accounts shall be maintained for the benefit of and in the name of WMC-SA, WMC-A, Chapman and Coastal, as applicablx, xxx (c) no other Person shall have any control over the use of or any right to withdraw any amount from, the Governmental Deposit Accounts other than WMC-SA, WMC-A, Chapman and Coastal, as applicablx. Xxxx Borrower specifically agrees: (i) to provide Lender with a description of each Deposit Account where a Governmental Deposit Account is maintained, including without limitation, the name of the financial institution, the address, the account number, the ABA Routing Number, and a contact person, (ii) not to change Deposit Accounts from the financial institution(s) where such Governmental Deposit Accounts are maintained as of the date hereof, and (iii) to instruct such financial institution(s) to sweep each such Governmental Deposit Account on a daily basis to a Lock Box Account identified by Lender. Each Borrower represents and warrants to Lender that it has notified or will notify each governmental payor of any Governmental Account to make all payments on account of such Accounts only to the Governmental Deposit Accounts. The breach of the foregoing obligations by any Borrower shall constitute an immediate Event of Default hereunder for which there shall be no cure or grace period.
Governmental Accounts. If the Collateral is or becomes subject to the Federal Assignment of Claims Act, the Borrower will immediately notify the Lender thereof in writing and execute all instruments and take all steps required by the Lender to comply with that act.
