Common use of Accounts Collection Clause in Contracts

Accounts Collection. At any time from the date of this ------------------- Agreement, Bank may notify any Person owing funds to Borrower of Bank's security interest in such funds and verify the amount of such Account. Upon the occurrence and during the continuation of an Event of Default, Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank's trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Sources: Loan and Security Agreement (Inktomi Corp), Loan and Security Agreement (Inktomi Corp)

Accounts Collection. At any time from the date of this Agreement and ---- ------------------- Agreementupon the occurrence and during the continuation of an Event of Default, Bank may notify any Person owing funds to Borrower of Bank's security interest in such funds and verify the amount of such Account. Upon the occurrence and during the continuation of an Event of Default, Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank's trustee, and and, if requested or required by Bank, immediately deliver such payments to Bank in their original form as received from the account debtorAccount Debtor, with proper endorsements for deposit.

Appears in 2 contracts

Sources: Revolving Credit and Security Agreement, Revolving Credit and Security Agreement (Ikos Systems Inc)

Accounts Collection. At any time from the date of this ------------------- Agreement, ------------------- Bank may notify any Person owing funds to Borrower of Bank's security interest in such funds and verify the amount of such Account. Upon the occurrence and during the continuation of an Event of Default, Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank's trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Sources: Loan and Security Agreement (Inktomi Corp), Loan and Security Agreement (Verisity LTD)

Accounts Collection. At any time from the date of this ------------------- Agreement, Bank may notify any Person person owing funds to Borrower of Bank's security interest in such funds and verify the amount of such Account. Upon the occurrence and during the continuation of an Event of Default, Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank's trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Sources: Loan and Security Agreement (Jetfax Inc), Loan and Security Agreement (Jetfax Inc)

Accounts Collection. At any time from the date of this ------------------- Exim Agreement, Bank may may, upon prior notice to Borrower, notify any Person owing funds to Borrower of Bank's ’s security interest in such funds and verify the amount of such Account. Upon the occurrence and during the continuation continuance of an Event of Default, Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank's ’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Sources: Loan and Security Agreement (Iridex Corp)

Accounts Collection. At any time from the date of this ------------------- Agreement, Bank may notify any Person owing funds to Borrower of Bank's security interest in such funds and verify the amount of such Account. Upon If requested or required by Bank after the occurrence and during the continuation of an Event of Default, Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank's trustee, and and, if requested or required by Bank after the occurrence of an Event of Default, immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Sources: Loan and Security Agreement (At Home Corp)