Common use of Notification of Account Debtors and Other Obligors Clause in Contracts

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, 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, 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 4 contracts

Samples: Credit and Security Agreement (Gardenburger Inc), Credit and Security Agreement (Gardenburger Inc), Credit and Security Agreement (Provena Foods Inc)

AutoNDA by SimpleDocs

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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 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 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 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, 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. The Lender may, in the Lender’s 's name or in the Borrower’s 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 '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 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 during 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 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 name or in the any 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 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 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 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, 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. 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 (Hei Inc), Credit and Security Agreement (Hei 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 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, 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. The Lender may, in the Lender’s name or in the any Borrower’s name, as the such 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 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 2 contracts

Samples: Credit and Security Agreement (Global Employment Holdings, Inc.), Credit and Security Agreement (Global Employment Holdings, Inc.)

Notification of Account Debtors and Other Obligors. The With respect to any and all rights to payment constituting Collateral 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 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, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 '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. This right of Lender to act as agent and attorney in fact of the Borrower shall be irrevocable for the life of this Agreement and may be exercised by the Lender only at any time after the occurrence and during the continuance of an Event of Default.

Appears in 2 contracts

Samples: Credit and Security Agreement (Skymall Inc), Credit and Security Agreement (Skymall 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 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 whose account debtor is to be notified will join in giving such notice if the Lender so requests. At any time after the such 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 's name or in the such 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, in the Lender’s name or in the ; and (b) as such 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 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, Credit and Security Agreement (Pemco Aviation Group 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, 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, in the Lender’s 's name or in the Borrower’s '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 (Interpharm Holdings Inc), Credit and Security Agreement (Seaway Valley Capital Corp)

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 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, 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 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 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 (Professional Veterinary Products LTD /Ne/), Credit and Security Agreement (Professional Veterinary Products LTD /Ne/)

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 existsbut only 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 a Default or an Event of Default and 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 sue for, collect or receive any money or property propexxx 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, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 '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 (Lamaur 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 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, 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. 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 1 contract

Samples: Credit and Security Agreement (Staar Surgical Co)

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, 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, 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 Canada Post 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 (Delphax Technologies Inc)

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 existsafter 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 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. The Lender may, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 's mail to any address designated by the Lender, otherwise intercept the Borrower’s 's mail, and receivereceive and, 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 (Sunrise Educational Services 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 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 's name or in the Borrower’s name, Debtor's name (i) 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; and (ii) as the Borrower’s Debtor's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower’s Debtor's mail to any address designated by the Lender, otherwise intercept the Borrower’s Debtor's mail, and receive, open and dispose of the Borrower’s Debtor's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower’s Debtor's account or forwarding such mail to the Borrower’s Debtor's last known address."

Appears in 1 contract

Samples: Credit Agreement (Toreador Resources Corp)

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 either before or not a Default Period then existsafter 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 sue for, collect or receive recexxx 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, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 '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 (Continental Information Systems Corp)

Notification of Account Debtors and Other Obligors. The Lender may at any time (whether or not as long as 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, 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 obligor. 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 1 contract

Samples: Credit and Security Agreement (uBid.com 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 of any Obligor 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 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 's name or in the Borrower’s each 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; and (b) as the Borrower’s Obligor's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrower’s each Obligor's mail to any address designated by the Lender, otherwise intercept the Borrower’s any Obligor's mail, and receive, open and dispose of the Borrower’s any Obligor's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrower’s Obligor's account or forwarding such mail to the Borrower’s Obligor'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 during any 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 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 '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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 's mail to any address designated by the Lender, otherwise intercept the each Borrower’s 's mail, and receive, open and dispose of the each Borrower’s '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 's last known address.

Appears in 1 contract

Samples: Credit and Security Agreement (Leather Factory Inc)

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 after the occurrence of an Event of 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 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. The Lender may, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 '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 (Shop at Home Inc /Tn/)

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, demand, xxx sue for, collect cxxxect 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. 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 1 contract

Samples: Credit and Security Agreement (CPS Technologies Corp/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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 (HC2 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 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 Borrower’s Borrowers’ name, 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, in the Lender’s name or in the Borrower’s 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

Samples: Credit and Security Agreement (Pacific Cma 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 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 any Borrower’s name, '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, in the Lender’s name or in the Borrower’s name, ; 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 's mail to any address designated by the Lender, otherwise intercept the any Borrower’s 's mail, and receive, open and dispose of the any 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 (Microtel 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 person obligated to pay the amount due and instruct such account debtor or other person to pay any such amounts to the Lockbox Account or the Collateral Account. During a Default Period, the Lender may 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 any of the Borrower’s nameBorrowers' names, provided a Default Period then exists, (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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 (Nu Kote Holding 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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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) may, after 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 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, 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, after the occurrence of an Event of Default, 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 1 contract

Samples: Credit and Security Agreement (Pure Earth, 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 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 's name or in the such 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, in the Lender’s name or in the ; and (b) as such 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 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 Borrower’s '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 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 and, subject to applicable law, 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, subject to applicable law, 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. The During a Default Period, the Lender may, in the Lender’s name or in the applicable 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 1 contract

Samples: Loan and Security Agreement (Vein Associates of America 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, 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. The Lender may, in the Lender’s 's name or in the Borrower’s '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 (Tradestar Services, 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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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.” 9. Section 3.5 of the Credit Agreement is hereby amended to read in its entirety as follows:

Appears in 1 contract

Samples: Credit and Security Agreement (Ciber Inc)

Notification of Account Debtors and Other Obligors. The In addition to the rights of the Lender may 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 exists) before the occurrence of an Event of Default, notify any account debtor or other Person person obligated to pay the amount due that payment shall be made directly to a Lockbox, and may at any time after the occurrence of an Event of Default which is continuing, notify such Person that the right to such 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 or the Lender gives such notice to occurrence of an account debtor or other obligorEvent of Default which is continuing, the Lender may, but need not, in the Lender’s 's name or in the such 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, in the Lender’s name or in the Borrower’s name, ; 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: Credit and Security Agreement (Larson Davis 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 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 a Borrower’s name, 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, in the Lender’s name or in the a Borrower’s name, 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 (Miscor Group, Ltd.)

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 existsafter 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 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. The Lender may, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 '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 (Crager 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 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, 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 During a Default Period, 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 (or, if so directed by the Borrower, forward) 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 (Exabyte Corp /De/)

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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 (Ciber 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, 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. 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 1 contract

Samples: Credit and Security Agreement (CPS Technologies Corp/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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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: 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) 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, 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 Upon the occurrence of an Event of Default and during the continuation thereof, the Lender may, in the Lender’s 's name or in the Borrower’s 's name, as the Borrower’s 's agent and attorney-in-fact, notify the United States Postal Service and/or Canada Post to change the address for delivery of the Borrower’s 's mail to any address designated by the Lender, provided that Lender shall also notify Borrower promptly after it provides such notice to the United States Postal Service and/or Canada Post, 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 (Ronson 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 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 's name or in the such 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, in the Lender’s name or in the ; and (b) as such 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 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 (Ramtron International Corp)

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 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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 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 (Synergetics Usa Inc)

AutoNDA by SimpleDocs

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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 (Digital Angel 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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 DBM Global.

Appears in 1 contract

Samples: Credit and Security Agreement (Hc2 Holdings, 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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 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 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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 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 (Synergetics Usa Inc)

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 either before or not a Default Period then existsafter 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 sue for, collect or receive any receivx xny 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, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 's mail to any address designated by the Lender, otherwise intercept the Borrower’s 's mail, and receive, open and dispose of otherwise handle 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 (Royal Grip 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 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 such 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. The Lender may, in the Lender’s name or in the a Borrower’s name, 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 (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 '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, in the Lender’s name or in the Borrower’s name, ; 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 (2nd Swing Inc)

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 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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; and (b) as the Borrower’s 's agent and attorney-in-fact, notify the United States US 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 mail's mail for purposes of the collection of Collateral, 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 (Rockshox Inc)

Notification of Account Debtors and Other Obligors. The Lender may may, at any time (whether or not during a Default Period then exists) Period, notify any account debtor or other Person person obligated to pay the amount due under an Account 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 applicable Obligor will join in giving such notice if the Lender so requests. At any time after the Borrower applicable Obligor or the Lender gives such notice to an account debtor or other obligor, but only for so long as a Default Period exists, the Lender may, but need not, in the Lender’s name or in the Borrowersuch 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; and (b) as the Borrowersuch Obligor’s agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the Borrowersuch Obligor’s mail to any address designated by the Lender, otherwise intercept the Borrowersuch Obligor’s mail, and receive, open and dispose of the Borrowersuch Obligor’s mail, applying all Collateral as permitted under this Agreement and holding all other mail for the Borrowersuch Obligor’s account or forwarding such mail to the Borrowersuch Obligor’s last known address.

Appears in 1 contract

Samples: Credit and Security Agreement (Infotech 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 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 Borrower’s Borrowers' name, 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, in the Lender’s 's name or in the Borrower’s 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

Samples: Credit and Security Agreement (Emrise 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 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 namename 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 (Pw Eagle 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 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 such 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, 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. The Lender may, in the Lender’s 's name or in the such Borrower’s '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 (Allis Chalmers Corp)

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 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 name or in the any 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 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 account or forwarding such mail to the Borrower’s last known address.

Appears in 1 contract

Samples: Credit and Security Agreement (Smtek 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 of any Borrower or other 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 's name or in the applicable Borrower’s '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. The Lender may, in the Lender’s name or in the Borrower’s name, ; and (b) as the applicable Borrower’s 's agent and attorney-in-fact, notify the United States Postal Service to change the address for delivery of the that Borrower’s 's mail to any address designated by the Lender, otherwise intercept the that Borrower’s 's mail, and receive, open and dispose (to the extent such mail constitutes Collateral) of the that Borrower’s 's mail, applying all Collateral as permitted under this Agreement and holding all other mail for the that Borrower’s 's account or promptly forwarding such mail to the that Borrower’s '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 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, 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 obligor. 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 1 contract

Samples: Credit and Security Agreement (Qsgi 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. 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 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) notify any account debtor or other Person person obligated to pay the amount due that payment shall be made directly to the Lockbox, and may at any time after 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 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, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 '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 (Data National Corp)

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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 (Winland Electronics Inc)

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 existsafter 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. The Lender may, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 '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 (Sportsmans Guide 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 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 name or in the Borrower’s name, 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 During any Default Period, 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 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, 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. The During a Default Period, 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 (or, if so directed by the Borrower, forward) 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 (Exabyte Corp /De/)

Notification of Account Debtors and Other Obligors. The In addition to the rights of the Lender under Section hereof, with respect to any and all rights to payment constituting Collateral, the Lender may at any time (whether either before or not a Default Period then existsafter 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 sue for, collect or receive recexxx 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, ; and (b) as agent and attorney in the Lender’s name or in fact of 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 '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 (Continental Information Systems 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 name or in the Borrower’s name, 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, 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 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 after the occurrence and during the continuance of a Default Period then existsDefault) 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, 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, 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 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 upon the occurrence of an Event of Default 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 sue for, collect or receive any money or property at any time payable xayable 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 Account debtor or other obligor. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 otherwise handle 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 (Royal Precision 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 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. The Lender may, in the Lender’s name or in the Borrower’s name, ; 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 (Bionova Holding Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!