Common use of Notification of Assignment of Receivables Clause in Contracts

Notification of Assignment of Receivables. After the occurrence and during the continuance of a Default or Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, to collect the Receivables, take possession of the Collateral, or both. Agent’s actual collection expenses, including stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges of any collection personnel used for collection, may be charged to Borrowers’ Account and added to the Obligations.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Virco MFG Corporation), Security Agreement (Virco MFG Corporation)

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Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of a Default or an Event of DefaultDefault and while such Event of Default is continuing, Agent shall have the right to send notice of the assignment of, and Agent’s 's security interest in and Lien onin, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s 's actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Sunsource Inc)

Notification of Assignment of Receivables. After At any time following the occurrence of an Event of Default and during the continuance of a Default or Event of Defaultcontinuation thereof, Agent shall have the right to send notice of the assignment of, and Agent’s 's security interest in and Lien onin, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s 's actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit (Graham Field Health Products Inc)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of a an Event of Default or Event of a Default, Agent shall have the right to send notice of the assignment of, and Agent’s 's security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s 's actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Borrower's Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Small World Kids Inc)

Notification of Assignment of Receivables. After At any time following the occurrence of an Event of Default or a Default and during the continuance of a Default or Event of Defaultthereof, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraphfacsimile, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Dreams Inc)

Notification of Assignment of Receivables. After At any time after the occurrence and during the continuance of a an Event of Default or Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (NYTEX Energy Holdings, Inc.)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of a Default or an Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien onin, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraphtelecopy, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may at Agent’s option be charged to Borrowers’ Account as a Revolving Advance and added to the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Bucyrus International Inc)

Notification of Assignment of Receivables. After Upon the occurrence and during the continuance of a Default or an Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Kitty Hawk Inc)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of a Default or Event of Default, (i) Agent shall have the right to send notice of the assignment of, and Agent’s 's security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Collateral and (ii) Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s 's actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Union Drilling Inc)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of a an Event of Default or Event of a Default, the Agent shall have the right to send notice of the assignment of, and the Agent’s security interest in and Lien onin, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. The Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ the Loan Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Lesco Inc/Oh)

Notification of Assignment of Receivables. After At any time following the occurrence of an Event of Default and during the continuance of a Default or an Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraphfacsimile, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Intcomex, Inc.)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of a an Event of Default or Event of a Default, Agent shall have the right to send notice of the assignment of, and Agent’s 's security interest in and Lien onin, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s 's actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraphtelecopy, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Brown Jordan International Inc)

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Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance continuation of a Default or an Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s actual actual, collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Englobal Corp)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of a Default or an Event of DefaultDefault and provided Agent elects to exercise its remedies hereunder, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Borrower’s Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (P&f Industries Inc)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of an Event of Default or a Default that has not been waived or Event of Defaultcured, Agent shall have the right to send notice of the assignment of, and Agent’s 's security interest in and Lien onin, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s 's actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Borrower's Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Perma Fix Environmental Services Inc)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of a Default or Event of Default, (i) Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Collateral and (ii) Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Borrower’s Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Union Drilling Inc)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance of an Event of Default or a Default or Event of Defaultarising pursuant to Section 10.7, Agent shall have the right to send notice of the assignment of, and Agent’s 's security interest in and Lien onin, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s 's actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraphtelecopy, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (HLM Design Inc)

Notification of Assignment of Receivables. After At any time upon the occurrence and during the continuance of a Default or any Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables Accounts to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. ThereafterCollateral and, thereafter, Agent shall have the sole right, if it has made such election, right to collect the ReceivablesAccounts, take possession of the Collateral, or both. Agent’s actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers’ Account as a Revolving Loan and added to the Obligations.

Appears in 1 contract

Samples: Super Priority (iMedia Brands, Inc.)

Notification of Assignment of Receivables. After At any time following the occurrence and during the continuance continuation of a an Event of Default or Event of a Default, Agent shall have the right to send notice of the assignment of, and Agent’s 's security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right, if it has made such election, right to collect the Receivables, take possession of the Collateral, or both. Agent’s 's actual collection expenses, including including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the charges salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Brightstar Corp.)

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