Common use of Notification to Account Debtors and Other Persons Obligated on Collateral Clause in Contracts

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors shall, at the request of the Purchasers, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers or to any financial institution designated by the Purchasers as their agent therefor, and the Purchasers may themselves, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the Grantor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor as trustee for the Purchasers without commingling the same with other funds of the Grantor and shall turn the same over to the Purchasers in the identical form received, together with any necessary endorsements or assignments. The Purchasers shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Debtor shall, at the request of the PurchasersMajority Holders, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Secured Party in any accountAccount, chattel paperChattel Paper, general intangibleGeneral Intangible, instrument Instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Secured Parties or to any financial institution designated by the Purchasers Majority Holders as their the Secured Parties' agent therefor, and the Purchasers Majority Holders may themselves, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorDebtor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Debtor shall hold any proceeds of collection of accountsAccounts, chattel paperChattel Paper, general intangiblesGeneral Intangibles, instruments Instruments and other Collateral received by the Grantor Debtor as trustee for the Purchasers Secured Parties without commingling the same with other funds of the Grantor Debtor and shall turn the same over to the Purchasers Secured Parties in the identical form received, together with any necessary endorsements or assignments. The Purchasers Secured Parties shall apply the proceeds of collection of accountsAccounts, chattel paperChattel Paper, general intangiblesGeneral Intangibles, instruments Instruments and other Collateral received by the Purchasers Secured Parties to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to themLiabilities.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Company shall, at the request of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their the Lender's agent therefor, and the Purchasers Lender may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorCompany, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Company shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Company as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Company and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of a Default shall have occurred and be continuing, the Grantors each Obligor shall, at the request and option of the PurchasersBank, notify account debtors Account Debtors and other persons Persons obligated on any of the Collateral of the security interest Liens of the Purchasers Bank in any accountAccount, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Bank or to any financial institution designated by the Purchasers Bank as their Bank’s agent therefor, and the Purchasers Bank may themselvesitself, if an Event of a Default shall have occurred and be continuing, without notice to or demand upon the Grantorany Obligor, so notify account debtors Account Debtors and other persons Persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors each Obligor shall hold any proceeds of collection of accountsAccounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor such Obligor as trustee for the Purchasers Bank without commingling the same with other funds of the Grantor such Obligor and shall turn the same over to the Purchasers Bank in the identical form received, together with any necessary endorsements or assignments. The Purchasers Bank shall apply the proceeds of collection of accountsAccounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Bank to the ObligationsLiabilities as provided in this Agreement, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Debtor shall, at the request and option of the PurchasersSecured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Secured Party or to any financial institution designated by the Purchasers Secured Party as their the Secured Party's agent therefor, and the Purchasers Secured Party may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorDebtor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Debtor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Debtor as trustee for the Purchasers Secured Party without commingling the same with other funds of the Grantor Debtor and shall turn the same over to the Purchasers Secured Party in the identical form received, together with any necessary endorsements or assignments. The Purchasers Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Secured Party to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Borrower shall, at the request of the PurchasersBank, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Bank in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Bank or to any financial institution designated by the Purchasers Bank as their the Bank’s agent therefor, and the Purchasers Bank may themselvesitself, if an Event of Default shall have occurred and be continuing, without upon prior written notice to or demand upon the GrantorBorrower, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Borrower shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Borrower as trustee for the Purchasers Bank without commingling the same with other funds of the Grantor Borrower and shall turn the same over to the Purchasers Bank in the identical form received, together with any necessary endorsements or assignments. The Purchasers Bank shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Bank to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If Whenever an Event of Default shall have occurred and be continuingexists, the Grantors Company shall, at the request of the PurchasersLenders, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lenders in any accountAccount, chattel paperChattel Paper, general intangibleGeneral Intangible, instrument Instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lenders or to any financial institution designated by the Purchasers Lenders as their the Lenders’ agent therefor, and the Purchasers Lenders may themselvesitself, if whenever an Event of Default shall have occurred and be continuingexists, without notice to or demand upon the GrantorCompany, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Company shall hold as trustee for the Lenders any proceeds Proceeds of collection of accountsAccounts, chattel paperChattel Paper, general intangiblesGeneral Intangibles, instruments Instruments and other Collateral received by the Grantor as trustee for the Purchasers Company without commingling the same with other funds of the Grantor Company and shall turn the same over to the Purchasers Lenders in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lenders, at its option, shall apply the proceeds Proceeds of collection of accountsAccounts, chattel paperChattel Paper, general intangiblesGeneral Intangibles, instruments Instruments and other Collateral received by the Purchasers Lenders to the Secured Obligations, such proceeds Proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them, or hold such Proceeds as collateral for the Secured Obligations.

Notification to Account Debtors and Other Persons Obligated on Collateral. If a Default or an Event of Default shall have has occurred and be is continuing, the Grantors shallBorrower will, at the request of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their Lender’s agent therefor, and the Purchasers Lender may themselvesitself, if a Default or an Event of Default shall have has occurred and be continuingis continuing beyond the applicable cure period, if any, without notice to or demand upon the GrantorBorrower, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors shall Borrower will hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Borrower as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Borrower and shall will turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers shall Lender will apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors shall, at the reasonable request of the PurchasersAgent or any other Secured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Agent in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Agent or to any financial institution designated by the Purchasers Agent as their its agent therefor, and the Purchasers may themselvesAgent may, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the Grantor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor as trustee for the Purchasers Agent without commingling the same with other funds of the Grantor and shall turn the same over to the Purchasers Agent in the identical form received, together with any reasonably necessary or advisable endorsements or assignments. The Purchasers Agent shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Agent to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Debtor shall, at the request and option of the PurchasersSecured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Secured Party or to any financial institution designated by the Purchasers Secured Party as their the Secured Party’s agent therefor, and the Purchasers Secured Party may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorDebtor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Debtor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Debtor as trustee for the Purchasers Secured Party without commingling the same with other funds of the Grantor Debtor and shall turn the same over to the Purchasers Secured Party in the identical form received, together with any necessary endorsements or assignments. The Purchasers Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Secured Party to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Grantor shall, at the request and option of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their the Lender’s agent therefor, and the Purchasers Lender may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the Grantor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Grantor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Debtor shall, at the request of the PurchasersSecured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Secured Party or to any financial institution designated by the Purchasers Secured Party as their the Secured Party’s agent therefor, and the Purchasers Secured Party may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorDebtor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Debtor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Debtor as trustee for the Purchasers Secured Party without commingling the same with other funds of the Grantor Debtor and shall turn the same over to the Purchasers Secured Party in the identical form received, together with any necessary endorsements or assignments. The Purchasers Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Secured Party to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Company shall, at the request and option of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their the Lender's agent therefor, and the Purchasers Lender may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorCompany, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Company shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Company as trustee for the Purchasers Lender, without commingling the same with other funds of the Grantor Company and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Debtor shall, at the written request and option of the PurchasersSecured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Secured Party or to any financial institution designated by the Purchasers Secured Party as their the Secured Party's agent therefor, and the Purchasers Secured Party may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorDebtor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Debtor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Debtor as trustee for the Purchasers Secured Party without commingling the same with other funds of the Grantor Debtor and shall turn the same over to the Purchasers Secured Party in the identical form received, together with any necessary endorsements or assignments. The Purchasers Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Secured Party to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have has occurred and be is continuing, the Grantors then (a) each Grantor shall, at the request of the PurchasersCollateral Agent, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers in any accountAccount, chattel paperChattel Paper, general intangibleGeneral Intangible, instrument Instrument or other property of such Grantor constituting Collateral and that payment thereof of such obligors obligation is to be made directly to the Purchasers Collateral Agent or to any financial institution designated by the Purchasers Collateral Agent as their the Collateral Agent's agent therefor, and (b) the Purchasers Collateral Agent may themselves, if an Event of Default shall have occurred and be continuingitself, without notice to or demand upon the any Grantor, so notify such account debtors and other persons obligated on such Collateral. After the making of such a request or the giving of any such notification, the Grantors such Grantor shall hold any proceeds Proceeds of collection of accountsAccounts, chattel paperChattel Paper, general intangiblesGeneral Intangibles, instruments Instruments and other Collateral received by the such Grantor as trustee for the Purchasers Collateral Agent without commingling the same with other funds of the such Grantor and shall turn the same over to the Purchasers Collateral Agent in the identical form received, together with any necessary endorsements or assignments. The Purchasers shall Collateral Agent may apply the proceeds Proceeds of collection of accountsAccounts, chattel paperChattel Paper, general intangiblesGeneral Intangibles, instruments Instruments and other Collateral received by the Purchasers Collateral Agent to the ObligationsSecured Obligations or hold such Proceeds as additional Collateral, such proceeds to be immediately entered after final payment in cash or other immediately available funds at the option of the items giving rise to themCollateral Agent.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Debtor shall, at the request and option of the PurchasersSecured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Secured Party or to any financial institution designated by the Purchasers Secured Party as their the Secured Party's agent therefor, and the Purchasers Secured Party may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorDebtor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Debtor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Debtor as trustee for the Purchasers Secured Party without commingling the same with other funds of the Grantor Debtor and shall turn the same over to the Purchasers Secured Party in the identical form received, together with any necessary endorsements or assignments. The Purchasers Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Secured Party to the ObligationsObligations in the order provided for in the Loan Agreement, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Debtor shall, at the request and option of the PurchasersCollateral Agent, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Collateral Agent in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Collateral Agent or to any financial institution designated by the Purchasers Collateral Agent as their Collateral Agent’s agent therefor, and the Purchasers Collateral Agent may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorDebtor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Debtor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Debtor as trustee for the Purchasers Collateral Agent without commingling the same with other funds of the Grantor Debtor and shall turn the same over to the Purchasers Collateral Agent in the identical form received, together with any necessary endorsements or assignments. The Purchasers Collateral Agent shall apply ratably distribute to each Secured Party the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Collateral Agent, for application by each Secured Party to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors The Borrower shall, at the request and option of the PurchasersLender, notify account debtors and other persons Persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their the Lender’s agent therefor, and the Purchasers Lender may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorBorrower, so notify account debtors and other persons Persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Borrower shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Borrower as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Borrower and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Company shall, at the request of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their the Lender's agent therefor, and the Purchasers Lender may themselvesits elf, if a Default or an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorCompany, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notificationnotification , the Grantors Company shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Company as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Company and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accountsaccounts , chattel paper, general intangiblesintangibles , instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have has occurred and be is continuing, the Grantors shallBorrower will, at the request of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their Lender’s agent therefor, and the Purchasers Lender may themselvesitself, if an Event of Default shall have has occurred and be is continuing, without notice to or demand upon the GrantorBorrower, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors shall Borrower will hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Borrower as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Borrower and shall will turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers shall Lender will apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If a Default or an Event of Default shall have has occurred and be is continuing, the Grantors shallBorrower will, at the request of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their Lender's agent therefor, and the Purchasers Lender may themselvesitself, if a Default or an Event of Default shall have has occurred and be continuingis continuing beyond the applicable cure period, if any, without notice to or demand upon the GrantorBorrower, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors shall Borrower will hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Borrower as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Borrower and shall will turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers shall Lender will apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Grantor shall, at the request and option of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument instalment or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their the Lender’s agent therefor, and the Purchasers Lender may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the Grantor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Grantor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Borrower shall, at the request and option of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their the Lender’s agent therefor, and the Purchasers Lender may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorBorrower, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Borrower shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Borrower as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Borrower and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If a Default or an Event of Default shall have occurred and be continuing, the Grantors Borrower shall, at the request and option of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their Lender's agent therefor, and the Purchasers Lender may themselvesitself, if a Default or an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorBorrower, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Borrower shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Borrower as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Borrower and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Periodically, Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the ObligationsObligations in such order as Lender may elect, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors Company shall, at the request of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their the Lender’s agent therefor, and the Purchasers Lender may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the GrantorCompany, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Company shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Company as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Company and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If a Default or an Event of Default shall have occurred and be continuing, the Grantors Borrower shall, at the request of the PurchasersLender, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lender in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lender or to any financial institution designated by the Purchasers Lender as their Lender’s agent therefor, and the Purchasers Lender may themselvesitself, if a Default or an Event of Default shall have occurred and be continuingcontinuing beyond the applicable cure period, if any, without notice to or demand upon the GrantorBorrower, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Borrower shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor Borrower as trustee for the Purchasers Lender without commingling the same with other funds of the Grantor Borrower and shall turn the same over to the Purchasers Lender in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lender shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Lender to the Obligations, such proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If an Event of Default shall have occurred and be continuing, the Grantors each Grantor shall, at the request and option of the PurchasersSecured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Secured Party or to any financial institution designated by the Purchasers Secured Party as their the Secured Party’s agent therefor, and the Purchasers Secured Party may themselvesitself, if an Event of Default shall have occurred and be continuing, without notice to or demand upon the Grantor, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Grantor shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Grantor as trustee for the Purchasers Secured Party without commingling the same with other funds of the Grantor and shall turn the same over to the Purchasers Secured Party in the identical form received, together with any necessary endorsements or assignments. The Purchasers Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Purchasers Secured Party to the Obligations, such proceeds to be immediately entered credited after final payment in cash or other immediately available funds of the items giving rise to them.

Notification to Account Debtors and Other Persons Obligated on Collateral. If Whenever an Event of Default shall have occurred and be continuingexists, the Grantors Company shall, at the request of the PurchasersLenders, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Purchasers Lenders in any accountAccount, chattel paperChattel Paper, general intangibleGeneral Intangible, instrument Instrument or other Collateral and that payment thereof is to be made directly to the Purchasers Lenders or to any financial institution designated by the Purchasers Lenders as their the Lenders’ agent therefor, and the Purchasers Lenders may themselves, if themselves whenever an Event of Default shall have occurred and be continuingexists, without notice to or demand upon the GrantorCompany, so notify account debtors and other persons obligated on Collateral. After the making of such a request or the giving of any such notification, the Grantors Company shall hold as trustee for the Lenders any proceeds Proceeds of collection of accountsAccounts, chattel paperChattel Paper, general intangiblesGeneral Intangibles, instruments Instruments and other Collateral received by the Grantor as trustee for the Purchasers Company without commingling the same with other funds of the Grantor Company and shall turn the same over to the Purchasers Lenders in the identical form received, together with any necessary endorsements or assignments. The Purchasers Lenders, at their option, shall apply the proceeds Proceeds of collection of accountsAccounts, chattel paperChattel Paper, general intangiblesGeneral Intangibles, instruments Instruments and other Collateral received by the Purchasers Lenders to the Secured Obligations, such proceeds Proceeds to be immediately entered after final payment in cash or other immediately available funds of the items giving rise to them, or hold such Proceeds as collateral for the Secured Obligations.