Common use of Right to Collect Accounts Clause in Contracts

Right to Collect Accounts. Upon the occurrence and during the continuance of an Event of Default, and without limiting Debtor’s obligations under the Transaction Documents: (a) Debtor authorizes Lender to notify any and all debtors on the Accounts to make payment directly to Lender (or to such place as Lender may direct); (b) Debtor agrees, on written notice from Lender, to deliver to Lender promptly after receipt thereof, in the form in which received (together with all necessary endorsements), all payments received by Debtor on account of any Account; and (c) Lender may, at its option, apply all such payments against the Obligations or remit all or part of such payments to Debtor.

Right to Collect Accounts. Upon the occurrence and during the continuance of an Event of Default, Default and without limiting Debtor’s obligations under the Transaction Documents: (a) Debtor authorizes Lender the Lenders to notify any and all debtors on the Accounts to make payment directly to Lender the Lenders (or to such place as Lender the Lenders may direct); (b) Debtor agrees, on written notice from Lenderthe Lenders, to deliver to Lender the Lenders promptly after upon receipt thereof, in the form in which received (together with all necessary endorsements), all payments received by Debtor on account of any Account; and (c) Lender the Lenders may, at its their option, apply all such payments against the Obligations or remit all or part of such payments to Debtor; and (d) the Lenders may take any actions in accordance with Section 4.7 of this Agreement.