Common use of Remittance of Proceeds Clause in Contracts

Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered to Coast within one (1) Business Day after receipt by Borrower, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for Coast. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 21 contracts

Samples: Loan and Security Agreement (Webvalley Inc), Loan and Security Agreement (Avtel Communications Inc/De), Loan and Security Agreement (3do Co)

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Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered to Coast within one (1) Business Day after receipt by Borrower, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for Coast. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 8 contracts

Samples: Loan and Security Agreement (Transcend Services Inc), Security Agreement (Cardiac Control Systems Inc), Loan and Security Agreement (Pinnacle Micro Inc)

Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered to Coast within one (1) Business Day after receipt by Borrower, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for Coast. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 3 contracts

Samples: Loan and Security Agreement (Greenman Technologies Inc), Loan and Security Agreement (Netlojix Communications Inc), Loan and Security Agreement (Health Fitness Corp /Mn/)

Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered to Coast within one (1) Business Day after receipt by Borrower, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for Coast. Nothing Noting in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Jore Corp), Loan and Security Agreement (Jore Corp)

Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered to Coast within one (1) Business Day after receipt by Borrower, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express a constructive trust for Coast. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Zycad Corp), Loan and Security Agreement (Ocean Optique Distributors Inc)

Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered to Coast within one (1) Business Day after receipt by Borrower, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for Coast. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.. --------------------------------------------------------------------

Appears in 1 contract

Samples: Loan and Security Agreement (Sync Research Inc)

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Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered sent to Coast within one (1) Business Day after receipt by Borrower, by over night service, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for Coast. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 1 contract

Samples: Security Agreement (Cyanotech Corp)

Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered to Coast within one (1) Business Day after receipt by Borrower, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but will hold Coast Business Credit Loan and Security Agreement -------------------------------------------------------------------------------- such proceeds separate and apart from such other funds and property and in an express trust for Coast. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Technical Communications Corp)

Remittance of Proceeds. All proceeds arising from the disposition of any Collateral shall be delivered to Coast within one (1) Business Day after receipt by the applicable Borrower, in their original form, duly endorsed to Coast, to be applied to the Obligations in such order as Coast shall determine. Each Borrower agrees that it will not commingle proceeds of Collateral with any of such Borrower's other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for Coast. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Mai Systems Corp)

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