Common use of Payments to Lender Clause in Contracts

Payments to Lender. The Grantor shall: (a) Collect and enforce payment of all Accounts (except as provided for in Section 4.2) and shall dispose of and receive payment for all Inventory which is ordinarily disposed of in the Grantor's business; (b) Receive and hold in trust for the Lender, all payments on or instruments received in respect of the Collateral, all rights by way of suretyship or guarantee which the Grantor now has or may hereafter acquire to enforce payment of Collateral and all rights in the nature of a security interest whereby the Grantor may satisfy any Collateral out of property, and all non-cash proceeds of any such collection, disposition or realization of any of the Collateral shall be subject to the security interest hereby created; (c) Endorse to the Lender and forthwith deliver to it all such payments and instruments in the form received by the Grantor; and (d) Forthwith deliver to the Lender all property in the Grantor's possession or hereafter coming into its possession through enforcement of any such rights.

Appears in 3 contracts

Samples: Credit Agreement (Anthony Clark International Insurance Brokers LTD), Loan and Security Agreement (Anthony Clark International Insurance Brokers LTD), General Security Agreement (Anthony Clark International Insurance Brokers LTD)

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Payments to Lender. The Grantor Debtor shall: (a) Collect and enforce payment of all Accounts Receivable (except as provided for in Section 4.2) and shall dispose of and receive payment for all Inventory which is ordinarily disposed of in the GrantorDebtor's business; (b) Receive and hold in trust for the Lender, all payments on or instruments received in respect of the Collateral, all rights by way of suretyship or guarantee which the Grantor Debtor now has or may hereafter acquire to enforce payment of Collateral and all rights in the nature of a security interest whereby the Grantor Debtor may satisfy any Collateral out of property, and all non-cash proceeds of any such collection, disposition or realization of any of the Collateral shall be subject to the security interest hereby created; (c) Endorse to the Lender and forthwith deliver to it all such payments and instruments in the form received by the GrantorDebtor; and (d) Forthwith deliver to the Lender all property in the GrantorDebtor's possession or hereafter coming into its possession through enforcement of any such rights.

Appears in 1 contract

Samples: General Security Agreement (Tarpon Industries, Inc.)

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Payments to Lender. The Grantor shall: (a) Collect and enforce payment of all Accounts (except as provided for in Section 4.2) and shall dispose of and receive payment for all Inventory which is ordinarily disposed of in the Grantor's business; (b) Receive and hold in trust for the Lender, all payments on or instruments received in respect of the Collateral, all rights by way of suretyship or guarantee which the Grantor now has or may hereafter acquire to enforce payment of Collateral and all rights in the nature of a security interest whereby the Grantor may satisfy any Collateral out of property, and all non-cash proceeds of any such collection, disposition or realization of any of the Collateral shall be subject to the security interest hereby created; (c) Endorse to the Lender and forthwith deliver to it all such payments and instruments in the form received by the Grantor; and (d) Forthwith deliver to the Lender all property in the Grantor's possession or hereafter coming into its possession through enforcement of any such rights.

Appears in 1 contract

Samples: Credit Agreement (Anthony Clark International Insurance Brokers LTD)

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