Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 10 contracts
Samples: Credit and Security Agreement (2nd Swing Inc), Credit and Security Agreement (Stocker & Yale Inc), Credit and Security Agreement (Ag Bag International LTD)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 4 contracts
Samples: Credit and Security Agreement (Gardenburger Inc), Credit and Security Agreement (Provena Foods Inc), Credit and Security Agreement (Gardenburger Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 3 contracts
Samples: Credit and Security Agreement (Nortech Systems Inc), Credit and Security Agreement (San Holdings Inc), Credit and Security Agreement (Digital Angel Corp)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a during any Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 2 contracts
Samples: Credit and Security Agreement (Allis Chalmers Corp), Credit and Security Agreement (Allis Chalmers Corp)
Notification of Account Debtors and Other Obligors. The Lender may at during any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Each Borrower will join in giving such notice if the Lender so requests. At any time after the any Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the any Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the each Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the such Borrower's ’s mail to any address designated by the Lender, otherwise intercept the such Borrower's ’s mail, and receive, open and dispose of the such Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's ’s account or forwarding such mail to the such Borrower's ’s last known address.
Appears in 2 contracts
Samples: Credit and Security Agreement (Heska Corp), Credit and Security Agreement (Heska Corp)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) after an Event of Default, notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 2 contracts
Samples: Credit and Security Agreement (Hei Inc), Credit and Security Agreement (Hei Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not from and after the occurrence of a Default Period then existsof an Event of Default) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; . The Lender may, from and (b) after the occurrence of a Default of an Event of Default, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 2 contracts
Samples: Credit and Security Agreement (Professional Veterinary Products LTD /Ne/), Credit and Security Agreement (Professional Veterinary Products LTD /Ne/)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the Borrower Borrowers or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's Borrowers' name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender's name or in the Borrowers' name, as the Borrower's Borrowers' agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's Borrowers' mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's Borrowers' account or forwarding such mail to the Borrower's Borrowers' last known address.
Appears in 2 contracts
Samples: Credit and Security Agreement (Misonix Inc), Credit and Security Agreement (Misonix Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 2 contracts
Samples: Credit and Security Agreement (Vari L Co Inc), Credit and Security Agreement (Medical Graphics Corp /Mn/)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender's name or in the Borrower's name, as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 2 contracts
Samples: Credit and Security Agreement (Seaway Valley Capital Corp), Credit and Security Agreement (Interpharm Holdings Inc)
Notification of Account Debtors and Other Obligors. The Lender may at -------------------------------------------------- any time (whether or not a Default Period then exists) notify any account debtor or any other person obligated obligor to pay the an amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Debtor will join in giving such notice if the Lender so requests. At any time after the Borrower Debtor or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the BorrowerDebtor's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any reasonable compromise or settlement with or otherwise reasonably agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-factattorney in fact of the Debtor, notify the United States Postal Service to change the address for delivery of the BorrowerDebtor's mail to any address designated by the Lender, otherwise intercept the BorrowerDebtor's mail, and receive, receive and open and dispose of the BorrowerDebtor's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the BorrowerDebtor's account or forwarding such mail to the BorrowerDebtor's last known address.
Appears in 1 contract
Samples: Replacement Security Agreement (Heartland Technology Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not while a Default Period then exists) exists notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, name (ai) demand, xxx sue for, collect or receive any money monxx or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (bii) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Upon --------------------------------------------------- the occurrence of an Event of Default, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-attorney in fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mailmail for purposes of the collection of Collateral, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The -------------------------------------------------- Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Rf Monolithics Inc /De/)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligorobliger, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx forsux xor, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligorobliger; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Bentley International Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, receive and open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Primesource Healthcare Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an one of its account debtor debtors or other obligorobligors, the Lender may, but need not, in the Lender's name or in the name of the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-factfact of the Borrower, notify the United States Postal Service to change the address for delivery of the Borrower's mail of the Borrower to any address designated by the Lender, otherwise intercept the mail of the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known addressaddress of either the Borrower to whom addressed or Xxxxxx International.
Appears in 1 contract
Samples: Credit and Security Agreement (Schuff International Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) exists notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any reasonable compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement by And (CPS Technologies Corp/De/)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not from and after the occurrence of a Default Period then existsor Event of Default) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; . From and (b) after the occurrence of a Default or Event of Default, the Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (MGP Ingredients Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Delphax Technologies Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's name’s name during a Default Period, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Upon the occurrence and during the continuance of an Event of Default, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx sue for, collect or receive any money or xx property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States US Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mailmail for purposes of the collection of Collateral, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the Borrower Borrowers or the Lender gives give such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's Borrowers’ name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in the Borrowers’ name, as the Borrower's Borrowers’ agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's Borrowers’ mail to any address designated by the Lender, otherwise intercept the Borrower's Borrowers’ mail, and receive, open and dispose of the Borrower's Borrowers’ mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's Borrowers’ account or forwarding such mail to the Borrower's Borrowers’ last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the Borrower Borrowers or the Lender gives give such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the any Borrower's name, name (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's Borrowers' agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the any Borrower's mail to any address designated by the Lender, otherwise intercept the any Borrower's mail, and receive, open and dispose of the any Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's account or forwarding such mail to the such Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Microtel International Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not while a Default Period then exists) exists notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Each Debtor will join in giving such notice if the Lender so requests. At any time after the Borrower Debtor or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the BorrowerDebtor's name, name (ai) demand, xxx forsue xxx, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement Fourth Amend. To Credit Agmt.- Toreador, et. al. with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (bii) as the BorrowerDebtor's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the BorrowerDebtor's mail to any address designated by the Lender, otherwise intercept the BorrowerDebtor's mail, and receive, open and dispose of the BorrowerDebtor's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the BorrowerDebtor's account or forwarding such mail to the BorrowerDebtor's last known address."
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor (including, without limitation, any Ultimate Debtor Customer) or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Newtek Business Services Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then existsupon an Event of Default) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Laser Power Corp/Fa)
Notification of Account Debtors and Other Obligors. The During a Default Period, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Frontline will join in giving such notice if the Lender so requests. At any time after the Borrower Frontline or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the BorrowerFrontline's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) upon the occurrence and during the continuance of an Event of Default, as the BorrowerFrontline's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the BorrowerFrontline's mail to any address designated by the Lender, otherwise intercept the BorrowerFrontline's mail, and receive, open and dispose of the BorrowerFrontline's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the BorrowerFrontline's account or forwarding such mail to the BorrowerFrontline's last known address.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Frontline Communications Corp)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Rf Monolithics Inc /De/)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not time, during a Default Period then exists) Period, notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligorobligor and so long as a Default Period exists, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx sue for, collect or receive any money or property at any time payable payabxx or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Dynamic Materials Corp)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not after the occurrence and during the continuance of a Default Period then existsDefault) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . Lender may, in Lender’s name or in Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Boots & Coots International Well Control Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during the existence of a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Upon the occurrence of an Event of Default, the Lender may at any time (whether or not a Default Period or Event of Default then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the any Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the relevant Borrower's name, (a) demand, xxx forsue xxx, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the each Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the each Borrower's mail to any address designated by the Lender, otherwise intercept the each Borrower's mail, and receive, open and dispose of the each Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the each Borrower's account or forwarding such mail to the each Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Pentastar Communications Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) Period, notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Winland Electronics Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx sue for, collect or receive any money or property at any time payable or xx receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Metretek Technologies Inc)
Notification of Account Debtors and Other Obligors. The In addition to the Lender's rights under Section 6.11, with respect to any and all rights to payment constituting Collateral, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then existsPeriod) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, receive and open and but not dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Atrix Acquisition Corp)
Notification of Account Debtors and Other Obligors. The -------------------------------------------------- Lender may at any time (whether or not during a Default Period then existsPeriod) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Rf Monolithics Inc /De/)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor of any Obligor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Each Obligor will join in giving such notice if the Lender so requests. At any time after the Borrower an Obligor or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrowereach Obligor's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the BorrowerObligor's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrowereach Obligor's mail to any address designated by the Lender, otherwise intercept the Borrowerany Obligor's mail, and receive, open and dispose of the Borrowerany Obligor's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the BorrowerObligor's account or forwarding such mail to the BorrowerObligor's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (U S Plastic Lumber Corp)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor of any Borrower or other person Person obligated to pay the an amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The applicable Borrower will join in giving such notice if the Lender so requests. At any time after the a Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the applicable Borrower's name, (a) demand, xxx sue for, collect or receive any money or property at any time payable or xx receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the applicable Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the that Borrower's mail to any address designated by the Lender, otherwise intercept the that Borrower's mail, and receive, open and dispose (to the extent such mail constitutes Collateral) of the that Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the that Borrower's account or promptly forwarding such mail to the that Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Sportsmans Guide Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then existsPeriod) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Rf Monolithics Inc /De/)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not if a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The If a Default Period exists, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The applicable Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives while such notice to an account debtor or other obligorDefault Period is ongoing, the Lender may, but need not, in the Lender's ’s name or in the any Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the each Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's Borrowers’ mail to any address designated by the Lender, otherwise intercept the Borrower's Borrowers’ mail, and receive, open and dispose of the Borrower's Borrowers’ mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Smtek International Inc)
Notification of Account Debtors and Other Obligors. The During a Default Period, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of handle the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (First Team Sports Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) exists notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, receive and open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Rmed International Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) exists notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the Borrower Borrowers or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the a Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in a Borrower’s name, as the such Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the such Borrower's ’s mail to any address designated by the Lender, otherwise intercept the such Borrower's ’s mail, and receive, open and dispose of the such Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's ’s account or forwarding such mail to the such Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement by And (Miscor Group, Ltd.)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a during any Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The applicable Borrower will join in giving such notice if the Lender so requests. At any time after the applicable Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the applicable Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's Borrowers' agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's Borrowers' mail to any address designated by the Lender, otherwise intercept the Borrower's Borrowers' mail, and receive, open and dispose of the Borrower's Borrowers' mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's Borrowers' account or forwarding such mail to the Borrower's Borrowers' last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Leather Factory Inc)
Notification of Account Debtors and Other Obligors. The During a Default Period and after the occurrence of a Security Event, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.”
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period or Event of Default then existsexists and is continuing) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx forsue xxx, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit Agreement (Hia Inc)
Notification of Account Debtors and Other Obligors. The Lender may at during any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx forsue xxx, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The In addition to the rights of the Lender under Section 6.10 hereof, with respect to any and all rights to payment constituting Collateral, the Lender may at any time (whether or not a Default Period then existsfollowing the occurrence of an Event of Default) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the Borrower Borrowers or the Lender gives give such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the applicable Borrower's ’s name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-factattorney in fact of such Borrower, notify the United States Postal Service to change the address for delivery of the such Borrower's ’s mail to any address designated by the Lender, otherwise intercept the such Borrower's ’s mail, and receive, open and dispose of the such Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's ’s account or forwarding such mail to the such Borrower's ’s last known address.
Appears in 1 contract
Samples: Patent, Trademark and License Collateral Assignment and Security Agreement (Synergetics Usa Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Waters Instruments Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) exists notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx sue for, collect or receive any money or property at any time payable or xx receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, receive and open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Rmed International Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx sue for, collect or receive rexxxve any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Meteor Industries Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Each Borrower will join in giving such notice if the Lender so requests. At any time during a Default Period after the any Borrower or the Lender gives such notice to an account debtor or other obligorobligor and so long as a Default Period exists, the Lender may, but need not, in the Lender's name or in the such Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the such Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the such Borrower's mail to any address designated by the Lender, otherwise intercept the such Borrower's mail, and receive, open and dispose of the such Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's account or forwarding such mail to the such Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Ramtron International Corp)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then existsPeriod) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service Canada Post to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Delphax Technologies Inc)
Notification of Account Debtors and Other Obligors. The Lender In addition to the rights of the Agent under Section 6.14, with respect to any and all rights to payment constituting Collateral, the Agent may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender Agent for security and shall be paid directly to the LenderAgent. The Borrower will join in giving such notice if the Lender Agent so requests. At any time after the Borrower or the Lender Agent gives such notice to an account debtor or other obligor, the Lender Agent may, but need not, in the LenderAgent's name or in the Borrower's name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as agent and attorney in fact of the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the LenderAgent, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The At any time after the occurrence and during the continuance of an Event of Default, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx sue for, collect or receive ox xeceive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the either Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the such Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the such Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the such Borrower's mail to any address designated by the Lender, otherwise intercept the such Borrower's mail, and receive, open and dispose of the such Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Medical Dynamics Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a during any Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The applicable Borrower will join in giving such notice if the Lender so requests. At any time after the applicable Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the applicable Borrower's name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's Borrowers' agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the each Borrower's mail to any address designated by the Lender, otherwise intercept the each Borrower's mail, and receive, open and dispose of the each Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's Borrowers' account or forwarding such mail to the such Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Leather Factory Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether during the existence of an Event of Default or not a Default Period then existsPeriod) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Bionova Holding Corp)
Notification of Account Debtors and Other Obligors. The Without limiting Lender's rights under Sections 6.2 and 6.3 below, the Lender may at any time (whether or not a after an Event of Default Period then exists) and, at any other time upon prior written notice to Borrower, notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) exists notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The applicable Borrower will join in giving such notice if the Lender so requests. At any time after the a Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the such Borrower's ’s name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender’s name or in a Borrower’s name, as the such Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the such Borrower's ’s mail to any address designated by the Lender, otherwise intercept the such Borrower's ’s mail, and receive, open and dispose of the such Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's ’s account or forwarding such mail to the such Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Orion Energy Systems, Inc.)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Heartland Technology Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the Borrower Borrowers or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's Borrowers' name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, in the Lender's name or in the Borrowers' name, as the Borrower's Borrowers' agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's Borrowers' mail to any address designated by the Lender, otherwise intercept the Borrower's Borrowers' mail, and receive, open and dispose of the Borrower's Borrowers' mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's Borrowers' account or forwarding such mail to the Borrower's Borrowers' last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not while a Default Period then exists) exists notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, name (ai) demand, xxx forsue xxx, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (bii) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.Agreement
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The During a Default Period, from and after the Initial Request Date, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The At any time after the occurrence and during the continuance of an Event of Default, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The applicable Borrower will join in giving such notice if the Lender so requests. At any time after the applicable Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the applicable Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's Borrowers' agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's Borrowers' mail to any address designated by the Lender, otherwise intercept the Borrower's Borrowers' mail, and receive, open and dispose of the Borrower's Borrowers' mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's Borrowers' account or forwarding such mail to the Borrower's Borrowers' last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Luminant Worldwide Corp)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a after the occurrence of an Event of Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx forsue xxx, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Futech Interactive Products Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an one of its account debtor debtors or other obligorobligors, the Lender may, but need not, in the Lender's ’s name or in the name of the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-factfact of the Borrower, notify the United States Postal Service to change the address for delivery of the Borrower's mail of the Borrower to any address designated by the Lender, otherwise intercept the mail of the Borrower's mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's last known addressaddress of either the Borrower to whom addressed or Xxxxxx International.
Appears in 1 contract
Samples: Security Agreement and Fixture Filing (HC2 Holdings, Inc.)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not while a Default Period then exists) notify any account debtor or other person Person obligated to pay the any amount due with respect to any item of Collateral that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . During any Default Period, the Lender may, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Rf Monolithics Inc /De/)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx sue for, collect or receive any money or property at any time payable or xx receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the Borrower Borrowers or the Lender gives give such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the applicable Borrower's name, (a) demand, xxx forsue xxx, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the applicable Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the such Borrower's mail to any address designated by the Lender, otherwise intercept the such Borrower's mail, and receive, open and dispose of the such Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's account or forwarding such mail to the such Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Eagle Geophysical Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) may, after the occurrence of an Event of Default, notify any account debtor or other person Person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the Borrower's ’s name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) . The Lender may, after the occurrence of an Event of Default, in the Lender’s name or in the Borrower’s name, as the Borrower's ’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's ’s mail to any address designated by the Lender, otherwise intercept the Borrower's ’s mail, and receive, open and dispose of the Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's ’s account or forwarding such mail to the Borrower's ’s last known address.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Upon the occurrence and during the continuance of any Event of Default, the Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
Appears in 1 contract
Samples: Credit and Security Agreement (Health Fitness Physical Therapy Inc)
Notification of Account Debtors and Other Obligors. The In addition to the rights of the Lender under the Foreign Accounts Insurance, the Lender may at any time (whether or not a Default Period then existsfollowing the occurrence of an Event of Default) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower Borrowers will join in giving such notice if the Lender so requests. At any time after the Borrower Borrowers or the Lender gives give such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's ’s name or in the applicable Borrower's ’s name, (a) demand, xxx sxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-factattorney in fact of such Borrower, notify the United States Postal Service to change the address for delivery of the such Borrower's ’s mail to any address designated by the Lender, otherwise intercept the such Borrower's ’s mail, and receive, open and dispose of the such Borrower's ’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the such Borrower's ’s account or forwarding such mail to the such Borrower's ’s last known address.
Appears in 1 contract
Samples: Foreign Accounts Credit and Security Agreement (Synergetics Usa Inc)
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not during a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an one of its account debtor debtors or other obligorobligors, the Lender may, but need not, in the Lender's name or in the name of the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-factfact of the Borrower, notify the United States Postal Service to change the address for delivery of the Borrower's mail of the Borrower to any address designated by the Lender, otherwise intercept the mail of the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known addressaddress of either the Borrower to whom addressed or DBM Global.
Appears in 1 contract
Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not a Default Period then exists) notify any account debtor or other person obligated to pay the amount due that such right to payment has been assigned or transferred to the Lender for security and shall be paid directly to the Lender. The Borrower will join in giving such notice if the Lender so requests. At any time after the Borrower or the Lender gives such notice to an account debtor or other obligor, the Lender may, but need not, in the Lender's name or in the Borrower's name, (a) demand, xxx for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such right to payment, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor; and (b) as the Borrower's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower's mail to any address designated by the Lender, otherwise intercept the Borrower's mail, and receive, open and dispose of the Borrower's mail, applying all Collateral as permitted under this Agreement the Security Documents and holding all other mail for the Borrower's account or forwarding such mail to the Borrower's last known address.
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