Notification to Account Debtors. The Administrative Agent shall have the right, during the existence of a Cash Control Event or an Event of Default, to notify any of the Borrowers' Account Debtors to make payment directly to the Administrative Agent and to collect all amounts due on account of the Collateral.
Appears in 2 contracts
Samples: Loan and Security Agreement (Officemax Inc /Oh/), Loan and Security Agreement (Officemax Inc /Oh/)
Notification to Account Debtors. The Administrative Agent shall have the right, during the existence of a Cash Control Event or an Event of Default, to notify any of the BorrowersCredit Parties' Account Debtors account debtors to make payment directly to the Administrative Agent and to collect all amounts due on account of the Collateral.
Appears in 2 contracts
Samples: Loan and Security Agreement (Shopko Stores Inc), Loan and Security Agreement (Shopko Stores Inc)
Notification to Account Debtors. The Administrative Agent shall have the right, during the existence of a Cash Control Event or right at any time that an Event of Default, Default has occurred to notify any of the Borrowers' Account Debtors to make payment directly to the Administrative Agent and to collect all amounts due on account of the Collateral.
Appears in 2 contracts
Samples: Loan and Security Agreement (Baker J Inc), Loan and Security Agreement (Jacobson Stores Inc)
Notification to Account Debtors. The Administrative Agent shall have the right, during the existence of a Cash Control Event right (whether or not an Event of Default, Default has occurred) to notify any of the Borrowers' Account Debtors to make payment directly to the Administrative Agent and to collect all amounts due on account of the Collateral.
Appears in 1 contract
Notification to Account Debtors. The Administrative Agent shall have the right, during the existence of a Cash Control Event or right at any time that an Event of Default, Default has occurred to notify any of the Borrowers' Loan Parties’ Account Debtors to make payment directly to the Administrative Agent and to collect all amounts due on account of the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Casual Male Retail Group Inc)
Notification to Account Debtors. The Administrative Agent shall have the right, during the existence of a Cash Control Event or right at any time that an Event of Default, Default has occurred to notify any of the BorrowersLoan Parties' Account Debtors to make payment directly to the Administrative Agent and to collect all amounts due on account of the Collateral.
Appears in 1 contract
