Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s general account for payment of the Indebtedness. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all Indebtedness.
Appears in 7 contracts
Samples: Credit and Security Agreement (Hei Inc), Credit and Security Agreement (Qsgi Inc.), Credit and Security Agreement (Delphax Technologies Inc)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s general account for payment of the IndebtednessObligations. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all IndebtednessObligations.
Appears in 6 contracts
Samples: Credit and Security Agreement (Christopher & Banks Corp), Credit and Security Agreement (Gardenburger Inc), Credit and Security Agreement (Exabyte Corp /De/)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s general account for payment of the Indebtedness. Amounts deposited in the Collateral Account or the Southeastern Blocked Account shall not be subject to withdrawal by the BorrowerBorrowers, except after payment in full and discharge of all Indebtedness.
Appears in 1 contract
Samples: Credit and Security Agreement (Global Employment Holdings, Inc.)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s general account for payment of the IndebtednessObligations. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the any Borrower, except after payment in full and discharge of all IndebtednessObligations.
Appears in 1 contract
Samples: Credit and Security Agreement (Orion Energy Systems, Inc.)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, and the Collection Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s 's general account for payment of the IndebtednessObligations. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all IndebtednessObligations.
Appears in 1 contract
Samples: Credit and Security Agreement (Tradestar Services, Inc.)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s general account for payment of the IndebtednessObligations. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all IndebtednessObligations.
Appears in 1 contract
Samples: Credit and Security Agreement (uBid.com Holdings, Inc.)
Sweep of Funds. The Funds received by Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the a depositary bank maintaining a Collateral Account to shall be transferred to the Lender’s 's general account for payment of the Indebtedness. Amounts deposited in the a Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all Indebtedness.
Appears in 1 contract
Samples: Credit and Security Agreement (Seaway Valley Capital Corp)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Blocked Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s 's general account for payment of the IndebtednessObligations. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all IndebtednessObligations.
Appears in 1 contract
Samples: Credit and Security Agreement (Interpharm Holdings Inc)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the Collateral Account to be transferred (at Borrower’s expense) to the Lender’s general account for payment of the IndebtednessObligations, after giving effect to a collection period of at least two Business Days, in addition to any period imposed after such transfer pursuant to Section 2.8(c). Amounts deposited in the Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all IndebtednessObligations.
Appears in 1 contract
Samples: Credit and Security Agreement (Boots & Coots International Well Control Inc)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account AgreementService Description, cause funds in the Collateral Account to be transferred to the Lender’s general account for payment of the Indebtedness. Amounts deposited in the Collateral Account or the Southeastern Blocked Account shall not be subject to withdrawal by the BorrowerBorrowers, except after payment in full and discharge of all Indebtedness.
Appears in 1 contract
Samples: Credit and Security Agreement (Global Employment Holdings, Inc.)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s general account for payment of the Indebtedness. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the BorrowerBorrowers, except after payment in full and discharge of all Indebtedness.
Appears in 1 contract
Sweep of Funds. The Lender shall from time to time, in accordance with an agreement between the Wholesale Lockbox and Collection Account Agreementparties, cause funds in the Collateral Account to be transferred to the Lender’s general account for payment of the IndebtednessObligations. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all Indebtednessof the Obligations.
Appears in 1 contract
Samples: Credit and Security Agreement (Nortech Systems Inc)
Sweep of Funds. The Lender shall from time to time, in accordance with the Wholesale Lockbox and Collection Account Agreement, cause funds in the Collateral Account to be transferred to the Lender’s 's general account for payment of the Indebtedness. Amounts deposited in the Collateral Account shall not be subject to withdrawal by the Borrower, except after payment in full and discharge of all Indebtedness.
Appears in 1 contract
