Common use of Sales and Collections Clause in Contracts

Sales and Collections. (a) Borrower is authorized (i) to sell in the ordinary course of its business for fair value and on an arm's-length basis any of its Inventory normally held by it for such purpose and (ii) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. Lender may upon the occurrence of any Event of Default (as defined in the Mortgage), without cause or notice, curtail or terminate such authority at any time. (b) Borrower is authorized to collect amounts owing to it with respect to the Collateral. However, Lender may at any time, after an Event of Default shall have occurred, notify Account Debtors obligated to make payments under any or all Accounts or Other Intangibles that Lender has a security interest in such Accounts or Other Intangibles and that all payments by such Account Debtors with respect to same shall be made directly to Lender. Upon the request of Lender at any time, Borrower will so notify such Account Debtors. Borrower will use all reasonable efforts to cause each account debtor to comply with the foregoing instruction. In furtherance of the foregoing, Borrower authorizes Lender (i) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of Borrower or its own name or otherwise, (ii) to take possession of, endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral, and (iii) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. Lender shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made.

Sales and Collections. (a1) The Borrower is authorized (ia) to sell in the ordinary course of its business for fair value and on an arm's-length basis any of its Inventory normally held by it for such purpose and (iib) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. Lender The Bank may upon the occurrence of any Event of Default (as defined in the Mortgage)Default, without cause or notice, curtail or terminate such authority at any time. (b2) Borrower is authorized to collect amounts owing to it with respect to the Collateral. However, Lender may at any time, after an Event of Default shall have occurred, notify All Account Debtors obligated shall be notified to make payments under any or all Accounts or Other Intangibles that Lender has a security interest in such Accounts or Other Intangibles and that all payments by such Account Debtors with respect to same shall be made Receivables directly to Lenderthe “Receivables Account” (as defined in the Sweep Agreement) in accordance with the terms of the Sweep Agreement. Upon the request of Lender at any time, Borrower will so notify such Account Debtors. The Borrower will use all reasonable efforts to cause each account debtor Account Debtor to comply with the foregoing instruction. In furtherance of the foregoing, upon the occurrence and during the continuation of a Default, the Borrower authorizes Lender the Bank (ia) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of the Borrower or its own name or otherwise, (iib) to take possession of, endorse indorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral, Collateral and (iiic) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. Lender The Bank shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made, other than as required by the Sweep Agreement. (3) With respect to accounts arising under a Government Contract, the Bank may at any time require the Borrower to satisfy the requirements of the Assignment of Claims Act of 1940, as amended, and any similar state legislation in respect thereof, and the Bank may in addition require evidence reasonably satisfactory to it as to the absence of set-offs, counterclaims and other defenses to payment on the part of the United States or such state Government.

Sales and Collections. (a) Borrower The Buyer is authorized (i) to sell in the ordinary course of its business for fair value and on an arm's-length basis any of its Inventory normally held by it for such purpose and (ii) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. Lender The Seller may upon the occurrence of any Event of Default (as defined in the Mortgage)Default, without cause or notice, curtail or terminate such authority at any time. (b) Borrower The Buyer is authorized to collect amounts owing to it with respect to the Collateral. However, Lender the Seller may at any time, after regardless of whether an Event of Default shall have occurred, notify Account Debtors account debtors obligated to make payments under any or all Accounts Receivables or Other Intangibles that Lender has the Seller have a security interest in such Accounts or Other Intangibles Collateral and that all payments by such Account Debtors with respect to same shall be made directly to Lenderthe Seller. Upon the request of Lender the Seller at any time, Borrower the Buyer will so notify such Account Debtorsaccount debtors. Borrower The Buyer will use all reasonable efforts to cause each account debtor to comply with the foregoing instruction. In furtherance of the foregoing, Borrower the Buyer authorizes Lender the Seller (i) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of Borrower the Buyer or its own name or otherwise, (ii) to take possession of, endorse and collect any checks, drafts, notes, notes acceptances or other instruments for the payment of moneys due under any Collateral, Collateral and (iii) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. Lender The Seller shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made.

Sales and Collections. (a) Borrower The Debtor is authorized (i) to sell (Y) in the ordinary course of its business for fair value and on an arm's-length basis any of its Inventory normally held by it for such purpose and (Z) such other assets or properties as permitted under Section 6.9 of the Credit Agreement, and (ii) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. Lender The Bank may upon the occurrence of any Event of Default (as defined in the Mortgage)Default, without cause or notice, curtail or terminate such authority at any time. (b) Borrower The Debtor is authorized to collect amounts owing to it with respect to the Collateral. However, Lender the Bank may at any time, time after the occurrence of an Event of Default shall have occurredDefault, notify Account Debtors obligated to make payments under any or all Accounts Receivables or Other Intangibles that Lender the Bank has a security interest in such Accounts or Other Intangibles Collateral and that all payments by such Account Debtors with respect to same shall be made directly to Lenderthe Bank. Upon the request of Lender the Bank at any timetime after the occurrence of an Event of Default, Borrower the Debtor will so notify such Account Debtorsaccount debtors. Borrower The Debtor will use all reasonable efforts to cause each account debtor to comply with the foregoing instruction. In furtherance of the foregoing, Borrower the Debtor authorizes Lender the Bank, after the occurrence of an Event of Default, (i) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of Borrower the Debtor or its own name or otherwise, (ii) to take possession of, endorse indorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral, Collateral and (iii) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. Lender shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made.

Sales and Collections. (a) Borrower The Grantor is authorized (i) to sell in the ordinary course of its business for fair value and on an arm'sarm’s-length basis any of its Inventory normally held by it for such purpose and (ii) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. Lender The Secured Party may upon the occurrence of any Event of Default (as defined in the Mortgage)Default, without cause or notice, curtail or terminate such authority at any time. (b) Borrower is The Grantor shall cause all cash Proceeds collected by it to be deposited into an account designated by Secured Party upon receipt, in the original form in which received (with such endorsements or assignments as may be necessary to permit collection, if applicable, thereof by the Secured Party), and for such purpose the Grantor hereby irrevocably authorizes and empowers the Secured Party, its officers, employees and authorized agents to collect amounts owing endorse and sign the name of the Grantor on all checks, drafts, money orders or other media of payment so delivered, and such endorsements or assignments shall, for all purposes, be deemed to it with respect have been made by the Grantor prior to any endorsement or assignment thereof by the CollateralSecured Party. HoweverThe Secured Party may use any convenient or customary means for the purpose of collecting such checks, Lender drafts, money orders or other media of payment. (c) The Grantor shall, and the Secured Party may at any time, after regardless of whether an Event of Default shall have occurred, notify Account Debtors obligated to make payments under any or all Accounts Receivables or Other Intangibles that Lender the Secured Party has a security interest in such Accounts or Other Intangibles Collateral and that all payments by such Account Debtors with respect to same shall be made directly to LenderSecured Party. Upon the request of Lender the Secured Party at any time, Borrower the Grantor will so notify such Account Debtorsaccount debtors. Borrower The Grantor will use all reasonable efforts to cause each account debtor to comply with the foregoing instruction. In furtherance of the foregoing, Borrower the Grantor authorizes Lender the Secured Party (i) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of Borrower the Grantor or its own name or otherwise, (ii) to take possession of, endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral, Collateral and (iii) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. Lender The Secured Party shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made.

Sales and Collections. (a) Borrower The Client is authorized (i) to sell in the ordinary course of its business for fair value and on an arm'sarm’s-length basis any of its Inventory normally held by it for such purpose purpose, subject to the terms and conditions of the Base Documents, and (ii) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. Lender The Provider may upon the occurrence of any Event of Default (as defined in the Mortgage)Default, without cause or notice, curtail or terminate such authority at any time. (b) Borrower is The Client shall cause all cash Proceeds collected by it to be deposited into an account designated by Provider upon receipt, in the original form in which received (with such endorsements or assignments as may be necessary to permit collection, if applicable, thereof by the Provider), and for such purpose the Client hereby irrevocably authorizes and empowers the Provider, its officers, employees and authorized agents to collect amounts owing endorse and sign the name of the Client on all checks, drafts, money orders or other media of payment so delivered, and such endorsements or assignments shall, for all purposes, be deemed to it with respect have been made by the Client prior to any endorsement or assignment thereof by the CollateralProvider. HoweverThe Provider may use any convenient or customary means for the purpose of collecting such checks, Lender drafts, money orders or other media of payment. (c) The Client shall, and the Provider may at any time, after regardless of whether an Event of Default shall have occurred, notify Account Debtors obligated to make payments under any or all Accounts Receivables or Other Intangibles that Lender the Provider has a security interest in such Accounts or Other Intangibles Collateral and that all payments by such Account Debtors with respect to same shall be made directly to LenderProvider. Upon the request of Lender the Provider at any time, Borrower the Client will so notify such Account Debtorsaccount debtors. Borrower The Client will use all reasonable efforts to cause each account debtor to comply with the foregoing instruction. In furtherance of the foregoing, Borrower the Client authorizes Lender the Provider (i) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of Borrower the Client or its own name or otherwise, (ii) to take possession of, endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral, Collateral and (iii) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. Lender The Provider shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made.

Sales and Collections. (a) Borrower Operating Tenant is authorized (i) to sell in the ordinary course of its business for fair value and on an arm's-length basis any of its Inventory normally held by it for such purpose and (ii) to use and consume, in the ordinary course of its business, any raw materials, supplies and materials normally held by it for such purpose. Lender may upon the occurrence and during the continuance of any Event of Default (as defined in the MortgageSecurity Instrument), without cause or notice, curtail or terminate such authority at any time. (b) Borrower Operating Tenant is authorized to collect amounts owing to it with respect to the Collateral. However, Lender may at any time, after an Event of Default shall have occurredoccurred and while it is continuing, notify Account Debtors obligated to make payments under any or all Accounts or Other Intangibles that Lender has a security interest in such Accounts or Other Intangibles and that all payments by such Account Debtors with respect to same shall be made directly to Lender. Upon the request of Lender at any time, Borrower Operating Tenant will so notify such Account Debtors. Borrower Operating Tenant will use all reasonable efforts to cause each account debtor Account Debtor to comply with the foregoing instruction. In furtherance of the foregoing, Borrower Operating Tenant authorizes Lender (i) to ask for, demand, collect, receive and give acquittances and receipts for any and all amounts due and to become due under any Collateral and, in the name of Borrower Operating Tenant or its own name or otherwise, (ii) to take possession of, endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Collateral, and (iii) to file any claim or take any other action in any court of law or equity or otherwise which it may deem appropriate for the purpose of collecting any amounts due under any Collateral. Lender shall have no obligation to obtain or record any information relating to the source of such funds or the obligations in respect of which payments have been made.