Lock-Box Accounts. Borrower shall, at Lender's request, instruct all of its Customers to make such payments on account of Receivables to an account under Lender's dominion and control at such bank as Lender may designate. Borrower shall also execute such further documents as Lender may deem necessary to establish such an account, and all funds deposited in such account shall immediately be deemed Lender's property.
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Samples: Loan and Security Agreement (Greka Energy Corp), Loan and Security Agreement (Greka Energy Corp), Credit and Security Agreement (Morgan Group Inc)
Lock-Box Accounts. Borrower shall, at Lender's request, instruct all of its Customers customers and account debtors to make such payments on account of Receivables to an account under Lender's dominion and control at such bank as Lender may designate. Borrower shall also execute such further documents as Lender may deem necessary to establish such an account, account and all funds deposited in such account shall immediately be deemed Lender's property.
Appears in 2 contracts
Samples: Loan and Security Agreement (Creative Technologies Corp), Loan and Security Agreement (Vista 2000 Inc)
Lock-Box Accounts. Borrower shall, at Lender's request, instruct all of its Customers to make such payments on account of Receivables to an account under Lender's dominion and control at such bank in the United States as Lender may designate. Borrower shall also execute such further documents as Lender may deem necessary to establish such an account, and all funds deposited in such account shall immediately be deemed Lender's property.
Appears in 1 contract
Samples: Management and Security Agreement (World Airways Inc /De/)
Lock-Box Accounts. Borrower Borrowers shall, at Lender's request, instruct all of its Customers to make such payments on account of Receivables to an account under Lender's dominion and control at such bank as Lender may designate. Borrower Borrowers shall also execute such further documents as Lender may deem necessary to establish such an account, account and all funds deposited in such account shall immediately be deemed Lender's property.
Appears in 1 contract
Samples: Management and Security Agreement (Precision Standard Inc)
Lock-Box Accounts. Borrower shall, at Lender's request, instruct all of its Customers to make such payments on account of Receivables to an account under Lender's dominion and control at such bank as Lender may designate. Borrower shall also execute such further documents as Lender may deem necessary to establish such an account, account and all funds deposited in such account shall immediately be deemed Lender's property.
Appears in 1 contract
Samples: Credit and Security Agreement (Aviation Distributors Inc)
Lock-Box Accounts. Each Borrower shall, at Lender's request, instruct all of its Customers customers and account debtors to make such payments on account of Receivables to an account under Lender's dominion and control at such bank as Lender may designate. Each Borrower shall also execute such further documents as Lender may deem necessary to establish such an account, account and all funds deposited in such account shall immediately be deemed Lender's property.
Appears in 1 contract
