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Common use of Notification of Assignment of Receivables Clause in Contracts

Notification of Assignment of Receivables. At any time following an Event of Default or an Incipient Event of Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account and added to the Obligations.

Appears in 1 contract

Samples: Credit Agreement (Cold Metal Products Inc)

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Notification of Assignment of Receivables. At any time following after the occurrence of an Event of Default or an Incipient Event of Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery All costs, fees and expenses, including stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's Borrowers' account and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or an Incipient Event of a Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account Account and added to the Obligations.. "

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Measurement Specialties Inc)

Notification of Assignment of Receivables. At any time following an Event of Default or an Incipient Event of Defaulttime, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. ThereafterAt any time after the occurrence of any Event of Default, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, applicable secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account Borrower and added to the Obligations.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Harolds Stores Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or an Incipient Event of a Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery The Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account Loan Account and added to the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Blonder Tongue Laboratories Inc)

Notification of Assignment of Receivables. At any time following Upon the occurrence of an Event of Default or an Incipient Event of Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's Borrowers' account and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Parlux Fragrances Inc)

Notification of Assignment of Receivables. At any time following an Event of Default or an Incipient Event of Defaulttime, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery The Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account Account and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Fidelity National Information Solutions Inc)

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Notification of Assignment of Receivables. At any time following an Event of Default or an Incipient Event of Defaulttime, the Lender shall shall, in its reasonable discretion, have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the ReceivablesReceivables in the Lender's name, take possession of the Collateral, or both. Stationery , and any stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's Borrowers' account and added to the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Canisco Resources Inc)

Notification of Assignment of Receivables. At any time following the occurrence and during the continuance of an Event of Default or an Incipient Event of Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery Lender's reasonable collection expenses, including, but not limited to, stationery and postage, telephone and telegraphtelecopy, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account Account and added to the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Atari Inc)

Notification of Assignment of Receivables. At any time following after the occurrence of an Event of Default or an Incipient Event of Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Stationery All costs, fees and expenses, including stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

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