The Collection Account. Company has granted a security interest to Xxxxx Fargo in the Collateral, including without limitation, all Accounts. Except as otherwise agreed by both parties in an Authenticated Record, all Proceeds of Accounts and other Collateral, upon receipt or collection, shall be deposited each Business Day into the Collection Account. Funds so deposited (“Account Funds”) are the property of Xxxxx Fargo, and may only be withdrawn from the Collection Account by Xxxxx Fargo.
Appears in 3 contracts
Samples: Credit and Security Agreement (Nortech Systems Inc), Credit and Security Agreement (Analysts International Corp), Credit and Security Agreement (Analysts International Corp)
The Collection Account. Company has Companies have granted a security interest to Xxxxx Fargo in the Collateral, including without limitation, all Accounts. Except as otherwise agreed by both parties in an Authenticated Record, all Proceeds of Accounts and other Collateral, upon receipt or collection, shall be deposited each Business Day into the Collection Account. Funds so deposited (“Account Funds”) are the property of Xxxxx Fargo, and may only be withdrawn from the Collection Account by Xxxxx Fargo.
Appears in 2 contracts
Samples: Credit and Security Agreement (Phoenix Footwear Group Inc), Credit and Security Agreement (Phoenix Footwear Group Inc)
The Collection Account. Company has granted a security interest to Xxxxx Fargo in the Collateral, including without limitation, all Accounts. Except as otherwise agreed by both parties in an Authenticated Record, if any Advance has been made (other than outstanding Letters of Credit), all Proceeds of Accounts and other Collateral, upon receipt or collection, shall be deposited each Business Day into the “Collection Account”. Funds so deposited (“Account Funds”) are the property of Xxxxx Fargo, and may only be withdrawn from the Collection Account by Xxxxx Fargo.
Appears in 2 contracts
Samples: Credit and Security Agreement (Winnebago Industries Inc), Credit and Security Agreement (Winnebago Industries Inc)
The Collection Account. Company has granted a security interest to Xxxxx Fargo in the Collateral, including without limitation, all Accounts. Except as otherwise agreed by both parties in an Authenticated Record, all Proceeds of Accounts and other Collateral, upon receipt or collection, shall be deposited each Business Day into the Collection Account. Funds so deposited (“Account Funds”) are the property of Xxxxx Fargo, and may only be withdrawn from the Collection Account by Xxxxx FargoFargo for application in accordance with Section 1.4(c) or as otherwise provided in the Loan Documents or by applicable law.
Appears in 2 contracts
Samples: Credit and Security Agreement (Capstone Turbine Corp), Credit and Security Agreement (Capstone Turbine Corp)
The Collection Account. Company has granted a security interest to Xxxxx Wxxxx Fargo in the Collateral, including without limitation, all Accounts. Except as otherwise agreed by both parties in an Authenticated Record, all Proceeds of Accounts and other Collateral, upon receipt or collection, shall be deposited each Business Day into the Collection Account. Funds so deposited (“Account Funds”) are the property of Xxxxx Fargo, and may only be withdrawn from the Collection Account by Xxxxx FargoWxxxx Fargo for application in accordance with Section 1.5(c) or as otherwise provided in the Loan Documents or by applicable law.
Appears in 2 contracts
Samples: Credit and Security Agreement (Iridex Corp), Credit and Security Agreement (Iridex Corp)
The Collection Account. Company has granted a security interest to Xxxxx Fargo in the Collateral, including without limitation, all Accounts. Except as otherwise agreed by both parties in an Authenticated Record, all Proceeds of Accounts and other Collateral, upon receipt or collection, shall be deposited each Business Day into the Collection Account. Funds so deposited (“Account Funds”) are the property of Xxxxx Fargo, and may only be withdrawn from the Collection Account by Xxxxx Fargo.
Appears in 2 contracts
Samples: Credit and Security Agreement, Credit and Security Agreement (Southwall Technologies Inc /De/)
The Collection Account. Company has granted a security interest to Xxxxx Wxxxx Fargo in the Collateral, including without limitation, limitation all Accounts. Except as otherwise agreed by both parties in an Authenticated Record, all Proceeds of Accounts and other Collateral, upon receipt or collection, shall be deposited each Business Day into the Collection Account. Funds so deposited (“Account Funds”) are the property of Xxxxx Fargo, and may only be withdrawn from the Collection Account by Xxxxx Fargo.the
Appears in 1 contract
The Collection Account. Company has granted a security interest to Xxxxx Wxxxx Fargo in the Collateral, including without limitation, all Accounts. Except as otherwise agreed by both parties in an Authenticated Record, all Proceeds of Accounts and other Collateral, upon receipt or collection, shall be deposited each Business Day into the Collection Account. Funds so deposited (“Account Funds”) are the property of Xxxxx Wxxxx Fargo, and may only be withdrawn from the Collection Account by Xxxxx Wxxxx Fargo.
Appears in 1 contract
Samples: Credit and Security Agreement (Merrimac Industries Inc)
