Payments Collection Sample Clauses

Payments Collection. At any time after the occurrence and during the continuance of an Event of Default, Bank may notify any Person owing funds to Borrower of Bank’s security interest in such funds and verify the amount so owing. Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.
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Payments Collection. 13.1. Unless otherwise agreed in writing from time to time hereafter, all payments which Borrower is required to make to Lender under this Agreement or under any of the other Loan Documents may, at the option of the Lender, be made by appropriate debits to the Loan Account. Lender may in its sole discretion elect to bill Borrower for such amounts in which case xxx amount shall be immediately due and payable with interest thereon as provided herein. At any time after either (a) an Event of Default has occurred or (b) Lender reasonably believes or suspects that Borrower or its Affiliates have committed fraud or made a statement, representation or warranty which shall have been materially false or misleading when made, then Lender or its designee may, at any time, notify customers or Account Debtors that Receivables have been assigned to Lender or of its security interest therein, collect the same directly and charge all reasonable out-of-pocket collection costs and expenses to the Loan Account. All proceeds of Collateral and all payments of money by any Person shall, at the direction of Lender, be deposited into a lockbox account, dominion account or such other "blocked account" as Lender may require pursuant to an arrangement with such bank as may be selected by Borrower and be acceptable to Agent (the "Collecting Bank"). The Borrower shall issue to the Collecting Banks irrevocable letters of instruction, in form and substance satisfactory to the Agent, directing the Collecting Banks, upon receipt of instructions ("Blockage Notices") to do so from the Agent, thenceforth to transfer all funds then and thereafter deposited in the Collecting Banks solely to the Agent, either to any account maintained by the Agent at the Collecting Bank or by wire transfer to appropriate account(s) of the Agent, and not to the Borrower or any Subsidiary. All funds deposited in such "blocked account" shall immediately become Collateral and the Borrower shall use its best efforts to obtain the agreement by the Collecting Bank to waive any offset rights against the funds so deposited. Agent assumes no responsibility for such "blocked account" arrangement, including without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by the Collecting Bank thereunder. Alternatively, upon the issuance of a Blockage Notice, Lender may establish depository accounts in the name of Lender at a bank or banks for the deposit of such funds and Borrower shal...
Payments Collection. 13.1 Unless otherwise agreed in writing from time to time hereafter, all payments which Borrower is required to make to Agent under this Agreement or under any of the other Loan Documents may, at the option of the Agent, be made by appropriate debits to the Loan Account. Agent may in its sole discretion elect to bill Borrower for such amounts in which case the axxxxt shall be immediately due and payable with interest thereon as provided herein. At any time after either (a) an Event of Default has occurred or (b) Agent reasonably believes or suspects that Borrower or its Affiliates have committed fraud or made a statement, representation or warranty which shall have been materially false or misleading when made, then Agent or its designee may, at any time, notify customers or Account Debtors that Receivables have been assigned to Agent or of its security interest therein, collect the same directly and charge all reasonable out-of-pocket collection costs and expenses to the Loan Account. All proceeds of Collateral (including all revenue, collections and other monies from the Subsidiaries under the Subsidiary Loan Agreements), all dividends and other sums paid to Borrower by the Subsidiaries and all payments of money by any Person shall, at the direction of Agent, be deposited by the Borrower into a lockbox account, dominion account or such other "blocked account" as Agent may require pursuant to an arrangement with such bank as may be selected by Borrower and be acceptable to Agent ("
Payments Collection. At any time after the occurrence and during the continuance of an Event of Default, Bank may notify any Person owing funds to Credit Party of Bank’s security interest in such funds and verify the amount so owing. Credit Party shall collect all amounts owing to Credit Party for Bank, receive in trust all payments as Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.

Related to Payments Collection

  • Accounts Collection At any time after the occurrence and during the continuation of an Event of Default, Bank may notify any Person owing funds to Borrower of Bank’s security interest in such funds and verify the amount of such Account. Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.

  • Payments, Computations, etc (a) Except as otherwise specifically provided herein, all payments hereunder shall be made to the Administrative Agent in dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at the Administrative Agent’s office specified in Schedule 10.1 not later than 4:00 P.M. on the date when due. Payments received after such time shall be deemed to have been received on the next succeeding Business Day. The Administrative Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Administrative Agent (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent the Loans, Fees, interest or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall distribute such payment to the Lenders in such manner as the Administrative Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.12(a)). The Administrative Agent will distribute such payments to such Lenders, if any such payment is received prior to 12:00 Noon on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Administrative Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and Fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans which shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Available Funds $ 5,439,225.01 ---------------

  • Payments and Collections All funds received by the Agent in respect of any payments made by any Borrower on the Term Notes shall be distributed promptly on the date of receipt thereof by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank’s Term Loan Percentage. All funds received by the Agent in respect of any payments made by any Borrower on the Revolving Notes, Revolving Commitment Fees or Letter of Credit Fees shall be distributed promptly on the date of receipt thereof by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank’s Revolving Percentage. After any Event of Default has occurred, all funds received by the Agent, whether as payments by the Borrowers or as realization on collateral or on any guaranties, shall (except as may otherwise be required by law) be distributed by the Agent in the following order: (a) first to the Agent or any Bank that has incurred unreimbursed costs of collection with respect to any Obligations hereunder, ratably to the Agent and each Bank in the proportion that the costs incurred by the Agent or such Bank bear to the total of all such costs incurred by the Agent and all Banks; (b) next to the Agent for the pro rata account of (i) the Banks (in accordance with their respective Total Percentages) for application on the Notes and (ii) the Rate Protection Providers (in accordance with their outstanding and owed Rate Protection Obligations) for application on the Rate Protection Agreements; (c) next to the Agent for the account of the Banks (in accordance with their respective Revolving Percentages) for any unpaid Revolving Commitment Fees or Letter of Credit Fees owing by the Borrowers hereunder; and (d) last to the Agent to be held in the Holding Account to cover any outstanding Letters of Credit.

  • Payments from Available Funds Only All payments to be made by the Borrower under this Agreement shall be made only from the amounts that constitute Scheduled Payments, Special Payments and other payments under the Operative Agreements, including payment under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving effect to the priority of payments provisions set forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will look solely to such amounts to the extent available for distribution to it as provided in the Intercreditor Agreement and this Agreement and that the Borrower, in its individual capacity, is not personally liable to it for any amounts payable or liability under this Agreement except as expressly provided in this Agreement, the Intercreditor Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral Account shall be available to the Borrower to make payments under this Agreement only to the extent and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.

  • Allocations of Finance Charge Collections The Servicer shall allocate to the Series 1997-1 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.

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