Accounts as Collateral Sample Clauses

Accounts as Collateral. (a) To secure the payment of the Obligations and the OPNY Obligations when due pursuant to the Financing Documents, as applicable, each Borrower Entity has assigned, transferred and pledged to, and granted a security interest in favor of, the Administrative Agent (for the benefit of the Secured Parties) pursuant to a Security Agreement, in all of the right, title and interest of such Borrower Entity which it now possesses or may hereafter obtain, in and to, among other things, all Revenues, each of the Accounts (and sub-accounts, as the case may be), including all monies and Permitted Investments and other securities and instruments held in such Accounts and sub-accounts, and all other funds held by the Administrative Agent under this Agreement and all of the proceeds of all the foregoing (collectively, the "Account Collateral"). Each Borrower Entity agrees that the Account Collateral, and all rights such Borrower Entity may have with respect to such Account Collateral, shall be subject to the terms and conditions of this Agreement and the other Financing Documents. (b) Each Borrower Entity agrees that it will not take any actions or fail to perform any of its duties or obligations under this Agreement so that after giving effect to such action or inaction the Administrative Agent will not then, or with the passage of time, cease to have a perfected first priority security interest in any of the Account Collateral. (c) Each Borrower Entity agrees that from time to time, at the expense of such Borrower Entity, such Borrower Entity will promptly execute and deliver all further instruments and documents, and take all further action, that may be necessary, or that the Administrative Agent may reasonably request, in order to perfect and protect any pledge or security interest granted or purported to be granted hereby or to enable the Administrative Agent to exercise and enforce its rights and remedies hereunder with respect to any Account Collateral. Without limiting the generality of the foregoing, each Borrower Entity will execute and file, with a copy thereof to the Administrative Agent, such financing or continuation statements, or amendments thereto, and such other instruments or notices, as may be necessary, or as the Administrative Agent may reasonably request, in order to perfect and preserve the pledge, assignment and security interest granted or purported to be granted hereby. (d) Each Borrower Entity hereby authorizes the Administrative Agent to (but...
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Accounts as Collateral. If I have given you a security interest in my accounts receivable, I agree not to settle or compromise any account for less than the full amount for less than the full amount of that account without first obtaining your written consent. I agree to collect my accounts receivable only until you instruct me to do otherwise. I agree to keep the proceeds of all accounts receivable and any goods returned to me in trust for your benefit, and I agree not to commingle them with any other accounts or property of mine. Upon your request, I agree to remit those proceeds to you.
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Accounts as Collateral. (a) To secure the payment of the Obligations when due pursuant to the Financing Documents, each Borrower Entity has assigned, transferred and pledged to, and granted a security interest in favor of, the Administrative Agent (for the benefit of the Secured Parties) pursuant to a Security Agreement, in all of the right, title and interest of such Borrower Entity which it now possesses or may hereafter obtain, in and to, among other things, all Revenues, each of the Accounts (and Sub-Accounts, as the case may be), including all monies and Permitted Investments and other securities and instruments held in such Accounts and Sub-Accounts, and all other funds held by the Administrative Agent under this Agreement and all of the proceeds of all the foregoing (collectively, the "Account Collateral"
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Accounts as Collateral. All Trust Moneys deposited in any of the Accounts shall be held segregated in the Cash Collateral Offer Account, the Cash Collateral Public Equity Offering Account, the Cash Collateral Default Account or the Cash Collateral Account, as the case may be, as provided in this Section 10.03, and shall be held by the Trustee, in trust under this Indenture, as part of the Collateral.
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Related to Accounts as Collateral

  • Control of Collateral Accounts To establish “control” of the Collateral Accounts by the Secured Party under Sections 9-104 and 9-106 of the UCC, the Financial Institution agrees to comply with any order or instruction from the Secured Party directing the deposit, withdrawal, transfer or redemption of the cash or other financial assets credited to a Collateral Account (a “Secured Party Order”) without the need for consent by the Grantor or any other Person.

  • Lien on Deposit Accounts Cash Collateral To further secure the prompt payment and performance of all Obligations, each Grantor hereby grants to Super Priority Agent, a continuing security interest in and Lien upon all of such Grantor’s right, title and interest in and to each Deposit Account (other than any Excluded Collateral) of such Grantor, and any deposits or other sums at any time credited to any such Deposit Account. Upon the occurrence of a Default or an Event of Default, each Grantor authorizes and directs each bank or other depository to deliver to Super Priority Agent, on a daily basis, all balances in each Deposit Account (other than any Excluded Collateral) maintained by such Grantor with such depository for application to the Obligations then outstanding. Each Grantor irrevocably appoints Super Priority Agent as such Grantor’s attorney-in-fact to collect such balances to the extent any such delivery is not so made.

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6 hereof.

  • Accounts and Chattel Paper (a) The names of the obligors, amounts owing, due dates and other information with respect to its Accounts and Chattel Paper are and will be correctly stated in all records of the Grantor relating thereto and in all invoices and Collateral Reports with respect thereto furnished to the Collateral Agent by such Grantor from time to time. As of the time when each Account or each item of Chattel Paper arises, such Grantor shall be deemed to have represented and warranted that such Account or Chattel Paper, as the case may be, and all records relating thereto, are genuine and in all respects what they purport to be. (b) With respect to its Accounts, except as specifically disclosed on the most recent Collateral Report, (i) all Accounts are Eligible Accounts; (ii) all Accounts represent bona fide sales of Inventory or rendering of services to Account Debtors in the ordinary course of such Grantor’s business and are not evidenced by a judgment, Instrument or Chattel Paper; (iii) there are no setoffs, claims or disputes existing or asserted with respect thereto and such Grantor has not made any agreement with any Account Debtor for any extension of time for the payment thereof, any compromise or settlement for less than the full amount thereof, any release of any Account Debtor from liability therefor, or any deduction therefrom except a discount or allowance allowed by such Grantor in the ordinary course of its business for prompt payment or as are generally offered in the industry by competitors of such Grantor in the applicable markets and in each case as disclosed to the Collateral Agent; (iv) to such Grantor’s knowledge, there are no facts, events or occurrences which in any way impair the validity or enforceability thereof or could reasonably be expected to reduce the amount payable thereunder as shown on such Grantor’s books and records and any invoices, statements and Collateral Reports with respect thereto; (v) such Grantor has not received any notice of proceedings or actions which are threatened or pending against any Account Debtor which might result in any adverse change in such Account Debtor’s financial condition; and (vi) such Grantor has no knowledge that any Account Debtor is unable generally to pay its debts as they become due. (c) In addition, with respect to all of its Accounts, (i) the amounts shown on all invoices, statements and Collateral Reports with respect thereto are actually and absolutely owing to such Grantor as indicated thereon and are not in any way contingent; (ii) no payments have been or shall be made thereon except payments immediately delivered to a Blocked Account, Lockbox or a Collateral Deposit Account as required pursuant to Section 7.1; and (iii) to such Grantor’s knowledge, all Account Debtors have the capacity to contract.

  • Cash Collateral Accounts Maintain, and cause each of the other Loan Parties to maintain, all Cash Collateral Accounts with Bank of America or another commercial bank located in the United States, which has accepted the assignment of such accounts to the Administrative Agent for the benefit of the Secured Parties pursuant to the terms of the Security Agreement.