Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and, after the occurrence and during the continuance of a Cash Dominion Event, shall be held in trust by the Loan Parties for the Lender; shall not be commingled with any of a Loan Party’s other funds; and shall be deposited and/or transferred only to the Blocked Account.
(b) After the occurrence and during the continuance of a Cash Dominion Event, the Borrower shall cause the, and shall cause each Guarantor to, ACH or wire transfer to the Blocked Account, no less frequently than daily (and whether or not there is then an outstanding balance in the Loan Account) of
(i) the then current contents of each DDA (other than the Operating Account), each such transfer to be net of any minimum balance, not to exceed $5,000.00, as may be required to be maintained in the subject DDA by the bank at which such DDA is maintained); and
(ii) the proceeds of all credit card charges not otherwise provided for pursuant hereto. Telephone advice (confirmed by written notice) shall be provided to the Lender on each Business Day on which any such transfer is made.
(c) After the occurrence and during the continuance of a Cash Dominion Event, whether or not any Liabilities are then outstanding, the Loan Parties shall cause the ACH or wire transfer to the Concentration Account, no less frequently than daily, of then entire ledger balance of the Blocked Account, net of such minimum balance, not to exceed $5,000.00, as may be required to be maintained in the Blocked Account by the bank at which the Blocked Account is maintained.
(d) After the occurrence and during the continuance of a Cash Dominion Event, in the event that, notwithstanding the provisions of this Section 7-4, a Loan Party receives or otherwise has dominion and control of any Receipts, or any proceeds or collections of any Collateral, such Receipts, proceeds, and collections shall be held in trust by such Loan Party for the Lender and shall not be commingled with any of the Loan Party’s other funds or deposited in any account of the Loan Party other than as instructed by the Lender.
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower for the Agent; shall not be commingled with any of the Borrower's other funds; and shall be deposited and/or transferred only to the Concentration Account.
(b) The Borrower shall cause the ACH or wire transfer to the Concentration Account, no less frequently than daily (and whether or not there is then an outstanding balance in the Loan Account) of (i) the then contents of each DDA (other than (A) any Local DDA and (B) the Funding Account), each such transfer to be net of any minimum balance, not to exceed $750.00, as may be required to be
(c) In the event that, notwithstanding the provisions of this Section 7-4, the Borrower receives or otherwise has dominion and control of any Receipts, or any proceeds or collections of any Collateral, such Receipts, proceeds, and collections shall be held in trust by the Borrower for the Agent and shall not be commingled with any of the Borrower's other funds or deposited in any account of the Borrower other than as instructed by the Agent.
(d) The Agent and the Borrower recognize that the Borrower currently utilizes The Huntington National Bank as its concentration and funding bank. The Borrower shall cause such concentration account and the funding account to be transferred to BankBoston, N.A. as required pursuant to Section 7-3 hereof within sixty (60) days after the date of this Agreement. Pending such transfer, all funds received by The Huntington National Bank in its concentration account shall be transferred daily to the Concentration Account, the funding account shall be used solely to make disbursements in the ordinary course, and all other accounts at such bank shall be treated as any other DDA hereunder, except for a deposit account being held by The Huntington National Bank as a reserve in connection with the Borrower's credit card arrangement with The Huntington National Bank.
Proceeds and Collection of Accounts. (a) It is recognized and intended that all Receipts constitute Collateral and proceeds of Collateral. A portion of the Receivables Collateral consists of Receipts.
(b) Whether or not any Liabilities are then outstanding, each Borrower shall cause each of the Borrower's Account Debtors to forward all Receipts proceeds of the Receivables Collateral directly to a lock box, blocked account, or similar recipient designated by the Lender and over which the Lender has sole access and control.
(c) All Receipts and collections of the Receivables Collateral which, notwithstanding the provisions of Subsection 8-1(b) are received by any Borrower or come under the control of any Borrower shall be held in trust by such Borrower for the Lender; shall not be commingled with any of such Borrower's other funds; and shall be deposited and/or transferred only to such lock box, blocked account, or similar recipient designated by the Lender pursuant to Subsection 8-1(b), above, or as otherwise instructed by the Lender.
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Obligors for the Agent; and shall be deposited and/or transferred only to the Concentration Account.
(b) The Borrower shall cause the ACH or wire transfer to the Concentration Account, no less frequently than daily (and whether or not there is then an outstanding balance in the Loan Account) of the then contents of each DDA (other than the Funding Account), each such transfer to be net of any minimum balance, not to exceed $750.00, as may be required to be maintained in the subject DDA by the bank at which such DDA is maintained).
(c) In the event that, notwithstanding the provisions of this Section 7-4, any Obligor receives or otherwise has dominion and control of any Receipts, or any proceeds or collections of any Collateral, such Receipts, proceeds, and collections shall be held in trust by such Obligor for the Agent and shall not be commingled with any of the Obligors' other funds or deposited in any account of the Obligors other than as instructed by the Agent.
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower for the Lender; shall not be commingled with any of the Borrower's other funds; and shall be deposited and/or transferred only to the Blocked Account.
(b) The Borrower shall cause the ACH or wire transfer to the Blocked Account, no less frequently than daily (and whether or not there is then an outstanding balance in the Loan Account) of
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and Proceeds of Collateral and (other than Receipts from the sale of Investment Property or Permitted Investments) shall be held in trust by the Borrowers and Guarantors, as the case may be, for the Agent, shall not be commingled with any of the Borrowers' or Guarantors', as the case may be, other funds and shall be deposited and/or transferred only to the Concentration Account.
Proceeds and Collection of Accounts countsOn or before the Cash Management Date, and at all times thereafter, each Borrower shall cause each Host Store to pay all amounts owed by that Host Store to such lockbox or remittance account as may from time to time be required by the Administrative Agent. Such lock box or remittance account shall be swept to the Concentration Account with such frequency as may from time to time be determined by the Administrative Agent. Interim Cash Management Procedures. Until the implementation of the cash management procedures set forth in Sections 7-1 and 7-2, above, each Borrower shall cause all Receipts of such Borrower, consisting of collected funds, to be forwarded daily to the Borrower's operating account with Fleet National Bank, with the aggregate of such Receipts, when they become collected funds in such operating account, then wire transferred from that account to the Concentration Account.
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower for the Agent; shall not be commingled with any of the Borrower's other funds; and shall be deposited and/or transferred only to the Concentration Account.
(b) The Borrower shall cause the ACH or wire transfer to the Concentration Amount, no less frequently than daily (and whether or not there is then an outstanding balance in the Loan Account) of (i) the then contents of each DDA (other than the Funding Account), each such transfer to be net of any minimum balance, not to exceed, with respect to each such DDA, the aggregate of $1,000.00 plus not more than the sales deposited to that DDA since the then most recent Business Day); and
Proceeds and Collection of Accounts. (a) All cash, cash equivalents, checks, credit card slips and receipts arising from the sale of the Inventory of the Company and its Subsidiaries and all General Intangibles shall be held in trust by the Company and its Subsidiaries for the Bank; and shall be deposited and/or transferred only to the Concentration Account.
(b) The Company shall cause the ACH or wire transfer to the Concentration Account, on each Business Day (and whether or not there are then Outstanding Credit Advances) of
(i) the then available contents of each DDA (other than the Funding Account), each such transfer to be net of a balance, not to exceed $500.00, to be maintained in the subject DDA; and
(ii) the proceeds of all credit card charges not otherwise provided for pursuant hereto. provided that the Company shall not be responsible for any delays in any ACH or wire transfer beyond the control of the Company.
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrowers for the Collateral Agent, for the benefit of the Lenders, shall not be commingled with any of the Borrowers' other funds, and shall be deposited and/or transferred, no less frequently than daily, only to the Blocked Account, LockBox Account or the Concentration Account. Permitted Investments shall be pledged to the Collateral Agent for the benefit of the Lenders.
(b) The Borrowers shall cause the ACH or wire transfer to the Concentration Account, no less frequently than twice per week (and whether or not there is then an outstanding balance in the Loan Account) of the following:
(i) The contents of each DDA (other than any Exempt DDA), the Blocked Account and the LockBox Account. Each such transfer to be net of any minimum balance, not to exceed $750.00, as may be required to be maintained in the subject DDA by the bank at which such DDA is maintained and for petxx cash purposes.
(ii) The proceeds of all credit card charges not otherwise provided for pursuant hereto.
