Notice of Assignment of Collateral to Lender. Lender may at any time after the occurrence and during the continuance of an Event of Default notify Account Debtors of Grantor, parties to the Contracts of Grantor, and obligors in respect of Instruments and Investment Property of Grantor that the Accounts and the right, title and interest of Grantor in and under such Contracts, Instruments, and Investment Property have been assigned to Lender and that payments shall be made directly to Lender. Upon the request of Lender, Grantor shall so notify such Account Debtors, parties to such Contracts, and obligors in respect of such Instruments and Investment Property. Lender may at any time after the occurrence and during the continuance of an Event of Default notify obligors in respect of Chattel Paper of Grantor that the right, title and interest of Grantor in and under such Chattel Paper has been assigned to Lender and that payments shall be made directly to Lender.
Appears in 5 contracts
Samples: Fourth Supplemental Security Agreement (Ml Macadamia Orchards L P), Second Supplemental Security Agreement (Ml Macadamia Orchards L P), Supplemental Security Agreement (Ml Macadamia Orchards L P)
