Common use of Remittance of Collections and Other Proceeds and Procedures Clause in Contracts

Remittance of Collections and Other Proceeds and Procedures. Borrower shall notify all Accounts to direct all Collections to the remittance address provided by Lender in the Procedures Letter (the “Remittance Address”). Lender shall retain the sole discretion to require Borrower to enter into a bank agreement or other agreement governing the remittance of Collections, which agreement shall be in form and substance acceptable to Lender, and only Lender shall have access to withdraw or otherwise direct the disposition of Collections. In the event that Borrower receives any Collections or other proceeds of Collateral, Borrower shall promptly upon receipt (and in all events within one Business Day of receipt by Borrower) remit in kind such Collections or other proceeds of Collateral directly to the Remittance Address and promptly notify Lender of such event. Until so forwarded, any such Collections or other proceeds of Collateral received by Borrower shall not be commingled with Borrower’s other funds and shall be held by Borrower, as trustee of an express trust, for Lender’s benefit. In the event any Collections are received by Borrower but not remitted to Lender in the time and manner specified herein, the Misdirected Payment Fee set forth on Schedule B shall be assessed and charged to the Borrower’s Loan Account. Borrower shall specify the Remittance Address on all agreements and contracts, and take all necessary steps to ensure all Collections are directed to the Remittance Address. On all invoices Borrower will place the Payment Notice that each invoice shall only be paid to the Remittance Address. All invoices shall be mailed or otherwise transmitted by Borrower to Account Obligors within five business days of issuance. Borrower will provide Lender with copies of all invoices and evidence of completion of services on all invoices as set forth in the Procedures Letter along with any other information as Lender may reasonably request. Nothing in this section shall require Borrower’s income received in the ordinary course of business that does not constitute proceeds of accounts receivable to be sent to the Remittance Address. [*CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AS TO CERTAIN PORTIONS OF THIS DOCUMENT, EACH SUCH PORTION, WHICH HAS BEEN OMITTED HEREIN AND REPLACED WITH ASTERISKS [***], HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.]

Remittance of Collections and Other Proceeds and Procedures. Borrower Borrowers shall notify all Accounts Account Obligors to direct all Collections to the remittance address provided by Lender in the Procedures Letter (the “Remittance Address”). Lender shall retain the sole discretion to require Borrower Borrowers to enter into a bank agreement or other agreement governing the remittance of Collections, which agreement shall be in form and substance acceptable to Lender, Lender and only Lender shall have access to withdraw or otherwise direct the disposition of Collections. In the event that Borrower receives Borrowers receive any Collections or other proceeds of Collateral, Borrower Borrowers shall promptly upon receipt (and in all events within one two (2) Business Day Days of receipt by BorrowerBorrowers) remit in kind such Collections or other proceeds of Collateral directly to the Remittance Address and promptly notify Lender of such event. Until so forwarded, any such Collections or other proceeds of Collateral received by Borrower Borrowers shall not be commingled with Borrower’s Borrowers’ other funds and shall be held by BorrowerBorrowers, as trustee of an express trust, for Lender’s benefit, subject to the terms and conditions hereof. In the event any Collections are received by Borrower Borrowers but not remitted to Lender in the time and manner specified herein, the Misdirected Payment Fee set forth on Schedule B shall be assessed and charged to the Borrower’s Borrowers’ Loan Account. Borrower Borrowers shall specify the Remittance Address on all agreements and contracts, and take all necessary steps to ensure all Collections are directed to the Remittance Address. On all invoices Borrower Borrowers will place the Payment Notice that each invoice shall only be paid to the Remittance Address. All invoices shall be mailed or otherwise transmitted by Borrower Borrowers to Account Obligors within five business days of issuance. Borrower With each Advance request, Borrowers will provide Lender with copies of all invoices and evidence of completion of services on all invoices as set forth in the Procedures Letter along with any other information as Lender may reasonably request. Nothing in this section shall require Borrower’s income received in Borrowers will provide Lender with proof of delivery on all invoices within two (2) business days of the ordinary course of business that does not constitute proceeds of accounts receivable to be sent to the Remittance Address. [*CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AS TO CERTAIN PORTIONS OF THIS DOCUMENT, EACH SUCH PORTION, WHICH HAS BEEN OMITTED HEREIN AND REPLACED WITH ASTERISKS [***], HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSIONAdvance request.]

Remittance of Collections and Other Proceeds and Procedures. Borrower shall notify all Accounts to direct all Collections to the remittance address provided by Lender in the Procedures Letter (the “Remittance Address”). Lender shall retain the sole discretion to require Borrower to enter into a bank agreement or other agreement governing the remittance of Collections, which agreement shall be in form and substance acceptable to Lender, and only Lender shall have access to withdraw or otherwise direct the disposition of Collections. In the event that Borrower receives any Collections or other proceeds of Collateral, Borrower shall promptly upon receipt (and in all events within one three Business Day Days of receipt by Borrower) remit remit, in kind kind, such Collections or other proceeds of Collateral directly to the Remittance Address Address, and shall promptly notify Lender of such event. Until so forwarded, any such Collections or other proceeds of Collateral received by Borrower shall not be commingled with Borrower’s 's other funds and shall be held by Borrower, as trustee of an express trust, for Lender’s 's benefit. In the event any Collections are received by Borrower but not remitted to Lender in the time and manner specified herein, the Misdirected Payment Fee set forth on Schedule B shall be assessed and charged to the Borrower’s Loan Account. Borrower shall specify the Remittance Address on all agreements and contracts, and take all necessary steps to ensure all Collections are directed to the Remittance Address. On all invoices invoices, Borrower will place the Payment Notice that each invoice shall only be paid to the Remittance Address. All invoices shall be mailed or otherwise transmitted by Borrower to Account Obligors within five business days Business Days of issuance. With each Advance request, Borrower will provide Lender with copies of all invoices and evidence proof of completion of services delivery on all invoices as set forth in the Procedures Letter along with any other information as Lender may reasonably request. Nothing in this section shall require Borrower’s income received in the ordinary course of business that does not constitute proceeds of accounts receivable to be sent to the Remittance Address. [*CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AS TO CERTAIN PORTIONS OF THIS DOCUMENT, EACH SUCH PORTION, WHICH HAS BEEN OMITTED HEREIN AND REPLACED WITH ASTERISKS [***], HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.]

Remittance of Collections and Other Proceeds and Procedures. Borrower shall notify all Accounts to direct all Collections to the remittance address provided by Lender in the Procedures Letter (the “Remittance Address”). Lender shall retain the sole discretion to require Borrower to enter into a bank agreement or other agreement governing the remittance of Collections, which agreement shall be in form and substance acceptable to Lender, Lender and only Lender shall have access to withdraw or otherwise direct the disposition of Collections. In the event that Borrower receives any Collections or other proceeds of Collateral, Borrower shall promptly upon receipt (not deposit or change its form and in all events within one two Business Day Days of receipt by Borrower) Borrower remit in in-kind such Collections or other proceeds of Collateral directly to the Remittance Address and promptly notify Lender of such event. Until so forwarded, any such Collections or other proceeds of Collateral received by Borrower shall not be commingled with Borrower’s 's other funds and shall be held by Borrower, as trustee of an express trust, for Lender’s 's benefit. In the event any Collections are received by Borrower but not remitted to Lender in the time and manner specified herein, the Misdirected Payment Fee set forth on Schedule B shall be assessed and charged to the Borrower’s Loan Account. Borrower shall specify the Remittance Address on all agreements and contracts, and take all necessary steps to ensure all Collections are directed to the Remittance Address. On all invoices Borrower will place the Payment Notice that each invoice shall only be paid to the Remittance Address. All invoices shall be mailed or otherwise transmitted by Borrower to Account Obligors within five business days of issuance. Borrower will provide Lender with copies of all invoices and evidence proof of completion of services delivery on all invoices as set forth in the Procedures Letter along with any other information as Lender may reasonably request. Nothing in this section shall require Borrower’s income received in the ordinary course of business that does not constitute proceeds of accounts receivable to be sent to the Remittance Address. [*CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AS TO CERTAIN PORTIONS OF THIS DOCUMENT, EACH SUCH PORTION, WHICH HAS BEEN OMITTED HEREIN AND REPLACED WITH ASTERISKS [***], HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.]