Common use of Reports and Collections Clause in Contracts

Reports and Collections. (a) Borrower agrees to furnish to Lender, at least weekly, schedules describing Receivables created or acquired by Borrower (including confirmatory written assignments thereof), including copies of all invoices to account debtors and other obligors (all herein referred to as "Customers") and original shipping or delivery receipts for all goods sold, but if Borrower fails to do so the rights of Lender as a secured party will not be impaired. At any time after the occurrence of an Event of Default, Lender may notify Customers at any time that Receivables have been assigned to Lender and collect them directly in Lender's own name but unless and until Lender does so or gives Borrower other instructions, Borrower shall make collection for Lender at Borrower's sole cost and expense. Borrower shall advise Lender promptly of any goods which are returned by Customers or otherwise recovered involving an amount in excess of $5,000.00. Borrower shall also advise Lender promptly of all disputes and claims by Customers involving an amount in excess of $5,000.00. At any time after the occurrence and during the continuance of an Event of Default, Lender may at all times settle or adjust such disputes and claims directly with the Customers for amounts and upon terms which Lender considers advisable. If Lender so directs at any time after an Event of Default, no discount, credit or allowance shall be granted by Borrower to any Customer and no return of goods shall be accepted by Borrower without Lender's written consent. (b) Borrower agrees to furnish to Lender Inventory certifications in accordance with Paragraph 17(a)(v) and a physical listing of all Inventory, wherever located, at least once every twelve months or, in either case, as more frequently requested by Lender. (c) All full and partial payments arising from the sale, collection or other disposition of Collateral (whether or not in the ordinary course of business), including but not limited to the collection of accounts receivable in the ordinary course of business and the ordinary sale of inventory or services for cash, shall immediately be delivered by Borrower to Lender IN THEIR ORIGINAL FORM (except for endorsement where necessary) and UNCASHED (in the case of checks or other documents). Borrower shall direct all customers and other remitters of payments to mail payments to Lender's post office box or other lockbox. Until such payments are so delivered to Lender (or Lender's lockbox), such payments shall be held in trust by Borrower for and as Lender's property and shall not be commingled with any funds of

Reports and Collections. (a) Borrower agrees to furnish to Lender, at least weeklyweekly (but more frequently if requested by Lender in writing), schedules describing Receivables created or acquired by Borrower (including confirmatory written assignments thereof), including identifying those Receivables which are Eligible Receivables from those which are not, and including, if Lender so requests, copies or originals of some or all invoices to account debtors and other obligors (all herein referred to as "Customers") and along with original shipping or delivery receipts for all goods sold, but if Borrower fails to do so the rights of Lender as a secured party will not be impaired. At any time after the occurrence of an Event of Default, Lender may notify Customers at any time that Receivables have been assigned to Lender and collect them directly in Lender's own name but unless and until Lender does so or gives Borrower other instructions, Borrower shall make collection for Lender at Borrower's sole cost and expense. Borrower shall advise Lender promptly of any goods which are returned by Customers or otherwise recovered involving an amount in excess of $5,000.005,000.00 and, unless instructed to deliver such goods to Lender, Borrower shall resell them for Lender and assign or deliver to Lender the resulting Receivables or other proceeds. Borrower shall also advise Lender promptly of all disputes and claims by Customers involving an amount in excess of $5,000.005,000.00 and settle or adjust them at no expense to Lender. At any time after the occurrence and during the continuance of an Event of Default, Lender may at all times settle or adjust such disputes and claims directly with the Customers for amounts and upon terms which Lender considers advisable. If Lender so directs at any time after an Event of Default, no discount, credit or allowance shall be granted by Borrower to any Customer and no return of goods shall be accepted by Borrower without Lender's written consent. (b) Borrower agrees to furnish to Lender Inventory certifications in accordance with Paragraph 17(a)(v) the paragraph entitled "Affirmative Covenants" and a physical listing of all Inventory, wherever located, specifying which portions are Eligible Inventory and which are not, at least once every twelve months or, in either case, as more frequently requested by Lender. (c) All full and partial payments and any other cash collections from whatever source whatsoever, whether or not arising from the sale, collection or other disposition of Collateral (whether or not in the ordinary course of business), including but not limited to the collection of accounts receivable in the ordinary course of business and the ordinary sale of inventory or services for cash, shall immediately be delivered by Borrower to Lender IN THEIR ORIGINAL FORM in their original form (except for endorsement where necessary) and UNCASHED uncashed (in the case of checks or other documents). Borrower shall direct all customers and other remitters of payments to mail payments to Lender's post office box or other lockbox. Within 90 days of the date hereof, at least ninety percent (90%) of the aggregate dollars paid to or on behalf of Borrower shall be received in Lender's post office box or lockbox directly from the payor. Until such payments are so delivered to Lender (or Lender's lockbox), such payments which nonetheless come into possession of Borrower shall be held in trust by Borrower for and as Lender's property and shall not be commingled with any funds ofof Borrower or otherwise negotiated. All cash collections received by Lender will be credited to Borrower's loan account (subject to final collection thereof) after three Business Days, or longer as required by Lender's bank to fully and finally collect the funds represented by checks or other instruments. Collections received by Lender after 11:00 am Central Time will be deemed received on the next Business Day.

Reports and Collections. (a) Borrower agrees to furnish to Lender, at least weekly, schedules describing Receivables created or acquired by Borrower (including confirmatory written assignments thereof), including and when requested by Lender, copies of all invoices to account debtors and other obligors (all herein referred to as "Customers") and original copies of shipping or delivery receipts for all goods sold, but if Borrower fails to do so the rights of Lender as a secured party will not be impaired. At any time after the occurrence of an Event of Default, Lender may notify Customers at any time that Receivables have been assigned to Lender and collect them directly in Lender's own name but unless and until Lender does so or gives Borrower other instructions, Borrower shall make collection for Lender at Borrower's sole cost and expense. Borrower shall advise Lender promptly of any goods which are returned by Customers or otherwise recovered involving an amount in excess of $5,000.0010,000.00 and, unless instructed to deliver such goods to Lender, Borrower shall resell them for Lender and assign or deliver to Lender the resulting Receivables or other proceeds. Borrower shall also advise Lender promptly of all disputes and claims by Customers involving an amount in excess of $5,000.0010,000.00 and settle or adjust them at no expense to Lender. At any time after the occurrence and during the continuance of an Event of Default, Lender may at all times settle or adjust such disputes and claims directly with the Customers for amounts and upon terms which Lender considers advisable. If Lender so directs at any time after an Event of Default, no discount, credit or allowance shall be granted by Borrower to any Customer and no return of goods shall be accepted by Borrower without Lender's written consent. (b) Borrower agrees to furnish to Lender Inventory certifications in accordance with Paragraph 17(a)(v) the paragraph entitled "Affirmative Covenants" and a physical listing of all Inventory, wherever located, at least once every twelve months or, in either case, as more frequently requested by Lender. (c) All full and partial payments and any other cash collections from whatever source whatsoever, whether or not arising from the sale, collection or other disposition of Collateral (whether or not in the ordinary course of business), including but not limited to the collection of accounts receivable in the ordinary course of business and the ordinary sale of inventory or services for cash, shall immediately be delivered by Borrower to Lender IN THEIR ORIGINAL FORM in their original form (except for endorsement where necessary) and UNCASHED uncashed (in the case of checks or other documents). Borrower shall direct all customers and other remitters of payments to mail payments to Lender's post office box or other lockbox. Until such payments are so delivered to Lender (or Lender's lockbox), such payments shall be held in trust by Borrower for and as Lender's property and shall not be commingled with any funds ofof Borrower. The net amount received by Lender as proceeds arising from the sale or other disposition of Collateral will be credited by Lender to Borrower's loan account (subject to final collection thereof): (1) for purposes of interest calculation only, as of the date of deposit; and (2) for other purposes, after allowing the number of days required by the applicable bank for collection of checks and other instruments.

Reports and Collections. (a) Borrower agrees to furnish to Lender, at least weekly, schedules describing Receivables created or acquired by Borrower (including confirmatory written assignments thereof), including copies of all invoices to account debtors and other obligors (all herein referred to as "Customers") and original shipping or delivery receipts for all goods sold, but if Borrower fails to do so the rights of Lender as a secured party will not be impaired. At any time after the occurrence of an Event of Default, Lender may notify Customers at any time that Receivables have been assigned to Lender and collect them directly in Lender's own name but unless and until Lender does so or gives Borrower other instructions, Borrower shall make collection for Lender at Borrower's sole cost and expense. Borrower shall advise Lender promptly of any goods which are returned by Customers or otherwise recovered involving an amount in excess of $5,000.005,000.00 and, unless instructed to deliver such goods to Lender, Borrower shall resell them for Lender and assign or deliver to Lender the resulting Receivables or other proceeds. Borrower shall also advise Lender promptly of all disputes and claims by Customers involving an amount in excess of $5,000.005,000.00 and settle or adjust them at no expense to Lender. At any time after the occurrence and during the continuance of an Event of Default, Lender may at all times settle or adjust such disputes and claims directly with the Customers for amounts and upon terms which Lender considers advisable. If Lender so directs at any time after an Event of Default, no discount, credit or allowance shall be granted by Borrower to any Customer and no return of goods shall be accepted by Borrower without Lender's written consent. (b) Borrower agrees to furnish to Lender Inventory certifications in accordance with Paragraph 17(a)(v) 17 and a physical listing of all Inventory, wherever located, at least once every twelve months or, in either case, as more frequently requested by Lender. (c) All full and partial payments and any other cash collections from whatever source whatsoever, whether or not arising from the sale, collection or other disposition of Collateral (whether or not in the ordinary course of business), including but not limited to the collection of accounts receivable in the ordinary course of business and the ordinary sale sales of inventory or services for cash, shall immediately be delivered by Borrower to Lender IN THEIR ORIGINAL FORM (except for endorsement where necessary) and UNCASHED (in the case of checks or other documents). Upon Lender's request, Borrower shall direct all customers and other remitters of payments to mail payments to Lender's post office box or other lockbox. Until such payments are so delivered to Lender (or Lender's lockbox), such payments shall be held in trust by Borrower for and as Lender's property and shall not be commingled with any funds ofof Borrower. The net amount received by Lender as proceeds arising from the sale or other disposition of Collateral will be credited by Lender to Borrower's loan account (subject to final collection thereof) promptly upon receipt.

Reports and Collections. (a) Borrower agrees to furnish to LenderGulf Coast, at least weeklyweekly (but more frequently if requested by Gulf Coast in writing), schedules describing Receivables created or acquired certificate. (in· form and substance as required by Borrower (including confirmatory written assignments thereofGulf Coast), including copies of some or all invoices to account debtors Account Debtors and other obligors (all herein referred to as a5 "Customers") ), and original copies of shipping or delivery receipts for all goods goods- sold, but if Borrower fails to do so deliver any of the rights above, the right of Lender Gulf Coast as a secured party will not be impaired. At any time after the occurrence of of. an Event of Default, Lender Gulf Coast may notify Customers at at' any time that Receivables have been assigned to Lender Gulf Coast and collect them directly in LenderGulf Coast's own name but unless and until Lender Gulf Coast does so or gives Borrower other instructions, Borrower shall make collection for Lender Gulf Coast at Borrower's sole cost and and· expense. Borrower shall sha11 advise Lender Gulf Coast promptly of any goods which are returned by Customers or otherwise recovered involving an an-amount in excess of $5,000.005,000 and,. unless instructed· to deliver ·such goods to Gulf Coast, Borrower shall resell them for Gulf Coast and assign or deliver to_ Gulf .Coast the resulting Receivables or other proceeds. Borrower shall sha11 also advise Lender Gulf Coast promptly of all disputes and claims by Customers involving an amount in excess of $5,000.005,000 and settle or adjust them at no expense to Gulf Coast. At any time after the occurrence and during the continuance of an Event of Default, Lender Gulf Coast may at all times settle or adjust such disputes and claims directly with the Customers for amounts and upon terms which Lender Gulf Coast. considers advisable. If Lender Gulf Coast so directs directs· at any time after an Event of Default, no discount, credit or allowance shall be granted by Borrower to any Customer and no return of goods shall be accepted by Borrower without LenderGulf Coast's written consent. (b) From time to time, at Gulf Coast's request, Borrower agrees to furnish to Lender Gulf Coast Inventory certifications in accordance with Paragraph 17(a)(v) the paragraph entitled "Affirmative Covenants" and a physical listing of all Inventory, wherever located, specifying which portions are Eligible Inventory and Which are not, at least once every twelve months per ·calendar month or, in either case, as more frequently requested by Lender.Gulf Coast: (c) All full and partial customer payments and any other cash collections from whatever source whatsoever, whether or not arising from the sale, collection or other disposition of Collateral (whether or -or· not in the ordinary course course· of business), including but not limited to the collection of accounts receivable in the ordinary course of business and the ordinary proceeds of the sale of goods inventory or services for cashservices, shall immediately be delivered by Borrower to Lender IN THEIR ORIGINAL FORM Gulf Coast in their original form (except for endorsement where necessary) and UNCASHED uncashed (in the case of Of checks or other documents). .) Borrower shall direct direct· all customers customers, credit card processors and other remitters of payments to mail payments to LenderGulf Coast's post office box or other lockbox. Until such payments are so delivered to Lender (or Lender's lockbox), such payments shall be held in trust by Borrower for and as Lender's property and shall not be commingled with any funds ofother

Reports and Collections. (a) Borrower agrees to furnish to Lender, at least weekly, schedules describing Receivables created or acquired by Borrower (including confirmatory written assignments thereof), including including, copies of all invoices to account debtors and other obligors (all herein referred to as "Customers") and original shipping or delivery receipts for all goods sold, but if Borrower fails to do so the rights of Lender as a secured party will not be impaired. At any time after the occurrence of an Event of Default, Lender may notify Customers at any time that Receivables have been assigned to Lender and collect them directly in Lender's own name but unless and until Lender does so or gives Borrower other instructions, Borrower shall make collection for Lender at Borrower's sole cost and expense. Borrower shall advise Lender promptly of any goods which are returned by Customers or otherwise recovered involving an amount in excess of $5,000.005,000.00 and, unless instructed to deliver such goods to Lender, Borrower shall resell them for Lender and assign or deliver to Lender the resulting Receivables or other proceeds. Borrower shall also advise Lender promptly of all disputes and claims by Customers involving an amount in excess of $5,000.005,000.00 and settle or adjust them at no expense to Lender. At any time after the occurrence and during the continuance of an Event of Default, Lender may at all times settle or adjust such disputes and claims directly with the Customers for amounts and upon terms which Lender considers advisable. If Lender so directs at any time after an Event of Default, no discount, credit or allowance shall be granted by Borrower to any Customer and no return of goods shall be accepted by Borrower without Lender's written consent. (b) Upon Lender's request, Borrower agrees to furnish to Lender Inventory certifications in accordance with Paragraph 17(a)(v) and a physical listing of all Inventory, wherever located, at least once every twelve months or, in either case, as more frequently requested by Lender. (c) All full and partial payments arising from the sale, collection or other disposition of Collateral (whether or not in the ordinary course of business), including but not limited to the collection of accounts receivable in the ordinary course of business and the ordinary sale of inventory or services for cash, shall immediately be delivered by Borrower to Lender IN THEIR ORIGINAL FORM (except for endorsement where necessary) and UNCASHED (in the case of checks or other documents). Borrower shall direct all customers and other remitters of payments to mail payments to Lender's post office box or other lockbox. Until such payments are so delivered to Lender (or Lender's lockbox), such payments shall be held in trust by Borrower for and as Lender's property and shall not be commingled with any funds ofof Borrower. The net amount received by Lender as proceeds arising from the sale or other disposition of Collateral will be credited by Lender to Borrower's loan account (subject to final collection thereof) after allowing the number of days required by the applicable bank for collection of checks and other instruments

Reports and Collections. (a) Borrower agrees to furnish to Lender, at least weekly, schedules describing Receivables created or acquired by Borrower (including confirmatory written assignments thereof), including copies of all invoices to account debtors and other obligors (all herein referred to as "Customers") and original shipping or delivery receipts for all goods sold, but if Borrower fails to do so the rights of Lender as a secured party will not be impaired. At any time after the occurrence of that an Event of DefaultDefault exists, Lender may notify Customers at any time that Receivables have been assigned to Lender and collect them directly in Lender's own name but unless and until Lender does so or gives Borrower other instructions, Borrower shall make collection for Lender at Borrower's sole cost and expense. Borrower shall advise Lender promptly of any goods which are returned by Customers or otherwise recovered involving an amount in excess of $5,000.00. Borrower shall also advise Lender promptly of all disputes and claims by Customers involving an amount in excess of $5,000.005,000.00 and settle or adjust them at no expense to Lender. At any time after the occurrence and during the continuance of an Event of Default, Lender may at all times settle or adjust such disputes and claims directly with the Customers for amounts and upon terms which Lender considers advisable. If Lender so directs at any time after while an Event of DefaultDefault exists, no discount, credit or allowance shall be granted by Borrower to any Customer and no return of goods shall be accepted by Borrower without Lender's written consent. (b) Borrower agrees to furnish to Lender Inventory certifications in accordance with Paragraph 17(a)(v) and a physical listing of all Inventory, wherever located, at least once every twelve months or, in either case, as more frequently requested by Lender. (c) All full and partial payments and any other cash collections from whatever source whatsoever, whether or not arising from the sale, collection or other disposition of Collateral (whether or not in the ordinary course of business), including but not limited to the collection of accounts receivable in the ordinary course of business and the ordinary sale sales of inventory or services for cash, shall immediately be delivered by Borrower to Lender IN THEIR ORIGINAL FORM in their original form (except for endorsement where necessary) and UNCASHED uncashed (in the case of checks or other documents). Upon Lender's request, Borrower shall direct all customers and other remitters of payments to mail payments to Lender's post office box or other lockbox. Until such payments are so delivered to Lender (or Lender's lockbox), such payments shall be held in trust by Borrower for and as Lender's property and shall not be commingled with any funds ofof Borrower. The net amount received by Lender as proceeds arising from the sale or other disposition of Collateral will be credited by Lender to Borrower's loan account (subject to final collection thereof) promptly upon receipt.