Notification of Account Debtors. If an Event of Default has occurred and is continuing, the Secured Party may give notice of this Agreement and the Charge granted hereby to any account debtors of the Debtor or to any other person liable to the Debtor and may give notice to any such account debtors or other person to make all further payments to the Secured Party, and, after the occurrence and during the continuance of an Event of Default, any payment or other proceeds of Collateral received by the Debtor from account debtors or from any other person liable to the Debtor whether before or after any notice is given by the Secured Party shall be held by the Debtor in trust for the Secured Party and forthwith paid over to the Secured Party on request.
Appears in 4 contracts
Samples: Agreement (Baytex Energy Corp.), Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.)
Notification of Account Debtors. If Before an Event of Default has occurred and is continuingoccurs, the Secured Party may give notice of this Agreement and the Charge security interest and assignment granted hereby to any account debtors of the Debtor or to any other person liable to the Debtor and and, after the occurrence of an Event of Default, may give notice to any such account debtors or other person to make all further payments to the Secured Party, and, after the occurrence and during the continuance of an Event of Default, any payment or other proceeds of Collateral received by the Debtor from account debtors or from any other person liable to the Debtor whether before or after any notice is given by the Secured Party shall must be held by the Debtor in trust for the Secured Party and forthwith paid over to the Secured Party on request.
Appears in 3 contracts
Samples: Arrangement Agreement (LML Payment Systems Inc), Loan Agreement Amending Agreement (Adb Systems International LTD), General Security Agreement (What a World Inc/De/)
Notification of Account Debtors. If Before an Event of Default has occurred and is continuingoccurs, the Secured Party may give notice of this Agreement and the Charge security interest and assignment granted hereby to any account debtors of the Debtor or to any other person liable to the Debtor and and, after the occurrence of an Event of Default, may give notice to any such account debtors or other person to make all further payments to the Secured Party, and, after the occurrence and during the continuance of an Event of Default, any payment or other proceeds of Collateral received by the Debtor from form account debtors or from any other person liable to the Debtor whether before or after any notice is given by the Secured Party shall be held by the Debtor in trust for the Secured Party and forthwith paid over to the Secured Party on request.
Appears in 1 contract
Notification of Account Debtors. If Before an Event of Default has occurred and is continuingoccurs, the Secured Party may give notice of this Agreement and the Charge security interest and assignment granted hereby to any account debtors of the Debtor or to any other person liable to the Debtor and and, after the occurrence of an Event of Default, may give notice to any such account debtors or other person to make all further payments to the Secured Party, and, after the occurrence and during the continuance of an Event of Default, any payment or other proceeds of Collateral received by the Debtor from account debtors or from any other person liable to the Debtor whether before or after any notice is given by the Secured Party shall be held by the Debtor in trust for the Secured Party and forthwith paid over to the Secured Party on request.
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