VERIFICATION AND NOTIFICATION; BANK'S RIGHTS. Bank may verify Collateral in any manner, and Debtor shall assist Bank in so doing. Upon the occurrence of a default hereunder, Bank may at any time and Debtor shall, upon request of Bank, notify the account debtors to make payment directly to Bank; and Bank may enforce collection of, sell, settle, compromise, extend or renew the indebtedness of such account debtors; all without notice to or the consent of Debtor. Until account debtors are so notified, Debtor, as agent of Bank, shall make collections on the Collateral. Bank may at any time notify any bailee possessing Collateral to turn over the Collateral to Bank.
Appears in 9 contracts
Samples: Business Security Agreement (Arts Way Manufacturing Co Inc), Revolving Credit Agreement (Itex Corp), Business Security Agreement (Nutech Digital Inc)
