Common use of INCREASES, PROFITS, PAYMENTS OR DISTRIBUTIONS Clause in Contracts

INCREASES, PROFITS, PAYMENTS OR DISTRIBUTIONS. (a) Whether or not any Event of Default has occurred, Debtor authorizes Secured Party: (i) to receive any increases in or profits on the Collateral (including, without limitation, any stock issued as a result of any stock split or dividend, any capital distributions and the like), and to hold the same as part of the Collateral; and (ii) to receive any payment or distribution on the Collateral upon exchange or redemption by, or dissolution and liquidation of, the issuer; to surrender such Collateral or any part thereof in exchange therefor; and to hold the net cash receipts or other property from any such payment or distribution as part of the Collateral. (b) If Debtor receives any such increase, profits, payments or distributions, Debtor will receive and deliver same promptly to Secured Party on the same terms and conditions set forth in Section 13.7(b) respecting income or interest, to be held by Secured Party as part of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Computone Corporation), Loan and Security Agreement (American Artists Film Corp/Mo/)

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INCREASES, PROFITS, PAYMENTS OR DISTRIBUTIONS. (a) Whether or not any Event an event of Default default has occurred, Debtor authorizes Secured Party: (i) to receive any increases increase in or profits on the Collateral (including, without limitation, any stock issued as a result of any stock split or dividend, any capital distributions and the like), and to hold the same as part of the Collateral; and (ii) to receive any payment or distribution on the Collateral upon exchange or redemption by, or dissolution and liquidation of, the issuer; , to surrender such Collateral or any part thereof in exchange therefor; therefore, and to hold the net cash receipts or other property from any such payment or distribution as part of the Collateral. (b) If Debtor receives any such increase, profits, payments or distributions, Debtor will receive and deliver same promptly to Secured Party on the same terms and conditions set forth in Section 13.7(bParagraph 8(b) hereof respecting income or interest, to be held by Secured Party as part of the Collateral.

Appears in 1 contract

Samples: General Security Agreement (Cargo Connection Logistics Holding, Inc.)

INCREASES, PROFITS, PAYMENTS OR DISTRIBUTIONS. (a) Whether or not any Event an event of Default default has occurred, Debtor authorizes Secured Party: (iI) to receive any increases increase in or profits on the Collateral (including, without limitation, any stock issued as a result of any stock split or dividend, any capital distributions and the like), and to hold the same as part of the Collateral; and (ii) to receive any payment or distribution on the Collateral upon exchange or redemption by, or dissolution and liquidation of, the issuer; , to surrender such Collateral or any part thereof in exchange therefor; and to hold the net cash receipts or other property from any such payment or distribution as part of the Collateral. (b) If Debtor receives any such increase, profits, payments or distributions, Debtor will receive and deliver same promptly to Secured Party on the same terms and conditions set forth in Section 13.7(bparagraph 8(b) hereof respecting income or interest, to be held by Secured Party as part of the Collateral.

Appears in 1 contract

Samples: Security Agreement (Sandata Inc)

INCREASES, PROFITS, PAYMENTS OR DISTRIBUTIONS. (a) Whether or not any Event an event of Default default has occurred, Debtor authorizes Secured Party: (i) to receive any increases increase in or profits on the Collateral (including, without limitation, any stock issued as a result of any stock split or dividend, any capital distributions and the like), and to hold the same as part of the Collateral; and (ii) to receive any payment or distribution on the Collateral upon exchange or redemption by, or dissolution and liquidation of, the issuer; to surrender such Collateral or any part thereof in exchange therefor; and to hold the net cash receipts or other property from any such payment or distribution as part of the Collateral. (b) If Debtor receives any such increase, profits, payments or distributions, Debtor will receive and deliver same promptly to Secured Party on the same terms and conditions set forth in Section 13.7(bparagraph 8(b) hereof respecting income or interest, to be held by Secured Party as part of the Collateral.

Appears in 1 contract

Samples: General Security Agreement (Fidelity Holdings Inc)

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INCREASES, PROFITS, PAYMENTS OR DISTRIBUTIONS. (a) Whether or not any After the occurrence of an Event of Default has occurredDefault, Debtor authorizes Secured Party: (i) to receive any increases increase in or profits on the Collateral (including, without limitation, any stock Investment Property issued as a result of any stock split or dividend, any capital distributions and the like), and to hold the same as part of the Collateral; and (ii) to receive any payment or distribution on the Collateral upon exchange or redemption by, or dissolution and liquidation of, the issuerissuer or any Investment Property; to surrender such Collateral or any part thereof in exchange therefor; and to hold the net cash receipts or other property from any such payment or distribution as part of the Collateral. (b) If After the occurrence of an Event of Default, if Debtor receives any such increase, profits, payments or distributions, Debtor will receive and deliver same promptly to Secured Party on the same terms and conditions set forth in Section 13.7(bparagraph 8(b) hereof respecting income or interest, to be held by Secured Party as part of the Collateral.

Appears in 1 contract

Samples: Security Agreement (Optical Cable Corp)

INCREASES, PROFITS, PAYMENTS OR DISTRIBUTIONS. (a) Whether or not any Event of Default has occurred, Debtor authorizes Secured Party: (i) to receive any increases in or profits on the Collateral (including, without limitation, any stock issued as a result of any stock split or dividend, any capital capita distributions and the like), and to hold the same as part of the Collateral; and (ii) to receive any payment or distribution on the Collateral upon exchange or redemption by, or dissolution and liquidation of, the issuer; , to surrender such Collateral or any part thereof in exchange therefor; , and to hold the net cash receipts or other property from any such payment or distribution as part of the Collateral. (b) If Debtor receives any such increase, profits, payments or distributions, Debtor will receive and deliver same promptly to Secured Party on the same terms and conditions set forth in Section 13.7(b) respecting income or interest, to be held by Secured Party as part of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Delsoft Consulting Inc)

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