Payments and Proceeds. 5.1 Subject to the rights of the holders of the Permitted Senior Encumbrances, after default under this Security Agreement, the Secured Party may notify all or any debtors on any Account (“Account Debtors”) of the security constituted by this Security Agreement and may also direct such Account Debtors to make all payments on the Collateral to the Secured Party.
Appears in 2 contracts
Samples: Security Agreement (Tullys Coffee Corp), Security Agreement (Tullys Coffee Corp)
