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 Seatac to notify any and all debtors on the Accounts to make payment directly to Seatac (or to such place as Seatac may direct); (b) Debtor agrees, on written notice from Seatac, to deliver to Seatac promptly 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) Seatac 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 and without limiting Debtor’s obligations under the Transaction Documents: (a) Debtor authorizes Seatac to notify any and all of Spectrum’s debtors on the Accounts to make payment directly to Seatac (or to such place as Seatac may direct); (b) Debtor agrees, on written notice from Seatac, to deliver to Seatac promptly 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) Seatac may, at its option, apply all such payments against the Obligations or remit all or part of such payments to Debtor.