Common use of Notification of Account Debtors Clause in Contracts

Notification of Account Debtors. Upon the occurrence and during the continuation of an Event of Default, the Administrative Agent may notify the account debtors that all payments with respect to Accounts are to be paid directly to the Administrative Agent and any amount thereafter paid to the Subsidiary shall be received in trust by the Subsidiary for the benefit of the Administrative Agent and segregated from other funds of the Subsidiary and paid over to the Administrative Agent in the form received (together with any necessary endorsements).

Notification of Account Debtors. Upon the occurrence and during the continuation of an Event of Default, the Administrative Agent may notify the account debtors that all payments with respect to Accounts are to be paid directly to the Administrative Agent and any amount thereafter paid to the Subsidiary Borrower shall be received in trust by the Subsidiary Borrower for the benefit of the Administrative Agent and segregated from other funds of the Subsidiary Borrower and paid over to the Administrative Agent in the form received (together with any necessary endorsements).

Notification of Account Debtors. Upon the occurrence and during the continuation of an Event of Default, the Administrative Agent may notify the account debtors that all payments with respect to Accounts of any Subsidiary are to be paid directly to the Administrative Agent and any amount thereafter paid to the such Subsidiary shall be received in trust by the such Subsidiary for the benefit of the Administrative Agent and segregated from other funds of the such Subsidiary and paid over to the Administrative Agent in the form received (together with any necessary endorsements).

Notification of Account Debtors. Upon the occurrence and during the continuation of an Event of Default, the Administrative Agent may notify the account debtors that all payments with respect to Accounts Accounts, Contracts, Leases, Other Contracts and Miscellaneous Items are to be paid directly to the Administrative Agent and any amount thereafter paid to the any Subsidiary shall be received in trust by the such Subsidiary for the benefit of the Administrative Agent and segregated from other funds of the such Subsidiary and paid over to the Administrative Agent in the form received (together with any necessary endorsements).