Common use of Remittance of Proceeds Clause in Contracts

Remittance of Proceeds. Except as provided in Section 4.1, all proceeds arising from the sale or other disposition of any Collateral shall be delivered, in kind, by Borrower to Lender in the original form in which received by Borrower not later than the following Business Day after receipt by Borrower. Until so delivered to Lender, Borrower shall hold such proceeds separate and apart from Borrower's other funds and property in an express trust for Lender. Nothing in this Section 4.2 shall limit the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 21 contracts

Samples: Loan and Security Agreement (Golden Books Family Entertainment Inc), Loan and Security Agreement (Enherent Corp), Loan and Security Agreement (Fix Corp International Inc)

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Remittance of Proceeds. Except as provided in Section 4.1, all proceeds arising from the sale or other disposition of any Collateral shall be delivered, in kind, by Borrower to Lender in the original form in which received by Borrower not later than the following second Business Day after receipt by Borrower. Until so delivered to Lender, Borrower shall hold such proceeds separate and apart from Borrower's other funds and property in an express trust for Lender. Nothing in this Section 4.2 shall limit the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 3 contracts

Samples: Loan Agreement (Fields Aircraft Spares Inc), Loan and Security Agreement (Fields Aircraft Spares Inc), Loan and Security Agreement (Fields Aircraft Spares Inc)

Remittance of Proceeds. Except as provided in Section 4.15.1, all proceeds Proceeds arising from the sale or other disposition of any Collateral shall be delivered, in kind, by Borrower to Lender Agent in the original form in which received by Borrower not later than the following Business Day after receipt by Borrower. Until so delivered to LenderAgent, Borrower shall hold such proceeds Proceeds separate and apart from Borrower's other funds and property in an express trust for LenderAgent and the Lenders. Nothing in this Section 4.2 5.2 shall limit the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Titan Global Holdings, Inc.)

Remittance of Proceeds. Except as provided in Section 4.14.3, all proceeds arising from the sale or other disposition of any Collateral shall be delivered, in kind, by Borrower Borrowers to Lender in the original form in which received by Borrower Borrowers not later than the following Business Day after receipt by BorrowerBorrowers. Until so delivered to Lender, Borrower Borrowers shall hold such proceeds separate and apart from Borrower's Borrowers' other funds and property in an express trust for Lender. Nothing in this Section 4.2 4.4 shall limit the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Marine Growth Ventures Inc)

Remittance of Proceeds. Except as provided in Section 4.1, all proceeds Proceeds arising from the sale or other disposition of any Collateral Collateral, shall be delivered, in kind, by Borrower to Lender in the original form in which received by Borrower not later than the following Business Day after receipt by Borrower. Until so delivered to Lender, Borrower shall hold such proceeds Proceeds separate and apart from Borrower's other funds and property in an express trust for Lender. Nothing in this Section 4.2 shall limit the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Titan Global Holdings, Inc.)

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Remittance of Proceeds. Except as provided in Section 4.1, all proceeds Proceeds arising from the sale or other disposition of any Collateral shall be delivered, in kind, by Borrower to Lender in the original form in which received by Borrower not later than the following Business Day after receipt by Borrower. Until so delivered to Lender, Borrower shall hold such proceeds Proceeds separate and apart from Borrower's other funds and property in an express trust for and on behalf of Lender. Nothing in this Section 4.2 shall limit the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Thomas Equipment, Inc.)

Remittance of Proceeds. Except as provided in Section 4.1, all proceeds arising from the sale or other disposition of any my Collateral shall be delivered, in kind, by Borrower to Lender in the original form in which received by Borrower not later than the following Business Day after receipt by Borrower. Until so delivered to Lender, Borrower shall hold such proceeds separate and apart from Borrower's Borrowers other funds and property in an express trust for Lender. Nothing in this Section 4.2 shall limit the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Coffee Holding Co Inc)

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