Common use of Account Receivables Clause in Contracts

Account Receivables. (i) get in and realize all account receivables, book, other debts and sums of money owing to the Chargor charged pursuant to Section 2 in the ordinary course of its business; (ii) pay directly to the Chargee, or if required by the Chargee, pay into a separate designated account or accounts (as the Chargee may require) with a bank approved by the Chargee, all sums of money which it may receive in respect of the account receivables, book debts and other debts charged pursuant to this Deed and pay or otherwise deal with such money standing in such account in accordance with any directions from time to time given in writing by the Chargee; (iii) deal with such account receivables, book debts and other debts charged pursuant to this Deed in accordance with directions from time to time given in writing by the Chargee and, in default of and subject to any such directions, deal with the same only in the ordinary course of getting in and realizing the same (but not sell, assign, factor or discount the same in any way); and (iv) permit any bank with whom an account referred to Clause 7.3.1(ii) is opened to furnish directly to the Chargee from time to time upon request full statements and particulars of all the Chargor’s accounts with it and such other financial statements and information respecting the assets and liabilities of the Chargor as are from time to time available to such bank;