Common use of Notification of Account Debtors Clause in Contracts

Notification of Account Debtors. Lender may at its reasonable discretion from time to time notify any or all obligors under any accounts or general intangibles (i) of Lender’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Borrower thereunder directly to Lender, and (ii) to verify the accounts or general intangibles with such obligors. Lender shall have the right, at the expense of Borrower, to enforce collection of any such accounts or general intangibles and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as Borrower.

Appears in 3 contracts

Samples: Loan and Security Agreement (Viewcast Com Inc), Loan and Security Agreement (Viewcast Com Inc), Exchange Agreement (Viewcast Com Inc)

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Notification of Account Debtors. Lender may at its reasonable discretion Permitted Discretion from time to time during the continuation of an Event of Default notify any or all obligors under any accounts or general intangibles (i) of Lender’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Borrower Debtor thereunder directly to Lender, and (ii) to verify the accounts or general intangibles with such obligors. Lender shall have the right, at the expense of BorrowerDebtor, to enforce collection of any such accounts or general intangibles and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as BorrowerDebtor.

Appears in 2 contracts

Samples: Loan and Security Agreement (AmeriCrew Inc.), Loan and Security Agreement (H/Cell Energy Corp)

Notification of Account Debtors. Lender may at its reasonable discretion from time to time during the continuation of an Event of Default notify any or all obligors under any accounts or general intangibles (i) of Lender’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Borrower Debtor thereunder directly to Lender, and (ii) to verify the accounts or general intangibles with such obligors. Lender shall have the right, at the expense of BorrowerDebtor, to enforce collection of any such accounts or general intangibles and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as BorrowerDebtor.

Appears in 2 contracts

Samples: Loan and Security Agreement (Avatar Systems Inc), Loan and Security Agreement (Teletouch Communications Inc)

Notification of Account Debtors. Lender may at its reasonable discretion discretion, from time to time time, during the continuation of an Event of Default notify any or all obligors under any accounts or general intangibles (i) of Lender’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Borrower Debtor thereunder directly to Lender, and (ii) to verify the accounts or general intangibles with such obligors. Lender shall have the right, at the expense of BorrowerDebtor, to enforce collection of any such accounts or general intangibles and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as BorrowerDebtor.

Appears in 1 contract

Samples: Loan and Security Agreement (Flint Telecom Group Inc.)

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Notification of Account Debtors. Lender may at its reasonable discretion from time to time notify any or all obligors under any accounts or general intangibles (i) of Lender’s 's security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Borrower thereunder directly to Lender, and (ii) to verify the accounts or general intangibles with such obligors. Lender shall have the right, at the expense of Borrower, to enforce collection of any such accounts or general intangibles and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Viewcast Com Inc)

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