Notice to Account Debtors and Escrow Account. In the event that (a) a Default or an Event of Default exists, or (b) demand has been made for any or all of the Obligations, promptly upon the request of the Administrative Agent in such form and at such times as reasonably specified by the Administrative Agent, give notice of the Lenders' lien on the Accounts to the Account Debtors requiring those Account Debtors which are permitted by applicable law to make payments thereon directly to the Administrative Agent.
Appears in 4 contracts
Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc)
Notice to Account Debtors and Escrow Account. In the event that (a) a Default or an Event of Default exists, or (b) demand has been made for any or all of the Obligations, promptly upon the request of the Administrative Agent in such form and at such times as reasonably specified by the Administrative Agent, give notice of the Lenders' lien on the Accounts to the Account Debtors requiring those Account Debtors which are permitted by applicable law to make payments thereon directly to the Administrative Agent.
Appears in 3 contracts
Samples: Financing and Security Agreement (Alternative Living Services Inc), Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Alternative Living Services Inc)
Notice to Account Debtors and Escrow Account. In the event that (a) a Default or an Event of Default exists, or (b) demand has been made for any or all of the Obligations, each Borrower will promptly upon the request of the Administrative Agent Agent, in such form and at such times as reasonably specified by the Administrative Agent, give notice of the Lenders' lien on the Accounts to the Account Debtors Debtors, requiring those Account Debtors which that are permitted by applicable law to make payments thereon directly to the Administrative Agent.
Appears in 2 contracts
Samples: Financing and Security Agreement (American Retirement Corp), Financing and Security Agreement (American Retirement Corp)
Notice to Account Debtors and Escrow Account. In the event that (a) a Default or an Event of Default exists, or (b) demand has been made for any or all of the Obligations, Borrower shall promptly upon the request of the Administrative Agent in such form and at such times as reasonably specified by the Administrative Agent, give notice of the Lenders' Agent’s lien on the Accounts to the Account Debtors requiring those Account Debtors which are permitted by applicable law to make payments thereon directly to the Administrative Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Sunrise Senior Living Inc)
