Common use of Assignment of Funds Clause in Contracts

Assignment of Funds. Upon the occurrence and continuance of any Event of Default, the rights, powers and privileges provided in Sections 6.3 and 6.4 hereof and all other remedies available to Agent under this Loan Agreement or the other Loan Documents or by statute or by rule of law or equity may be exercised by Agent at any time and from time to time whether or not the Obligations shall be due and payable, and whether or not Agent shall have instituted any foreclosure or other action for the enforcement of any of the Security Documents, the Note or the other Loan Documents. Borrower and Operating Lessee hereby assign and quitclaim to Agent all of their right, title and interest to all sums held in the Accounts and to the extent not held in an account, all sums held by Agent for the account of Borrower or Operating Lessee and any other security delivered by Borrower or Operating Lessee as additional security (a security interest in all of the foregoing being granted hereby to Agent) for the Loan and the performance of the Obligations, all of which security may be utilized by Agent for the purposes set forth in Section 6.3 hereof or the other Loan Documents or applied against the Obligations in such order and manner as Agent shall determine.

Assignment of Funds. Upon the occurrence and continuance of any Event of Default, the rights, powers and privileges provided in Sections 6.3 and 6.4 Section 8.4 hereof and all other remedies available to Agent under this Loan Agreement or the other Loan Documents or by statute or by rule of law or equity may be exercised by Agent at any time and from time to time whether or not the Obligations shall be due and payable, and whether or not Agent shall have instituted any foreclosure or other action for the enforcement of any of the Security Documents, the Note or the other Loan Documents. Borrower hereby assigns and Operating Lessee hereby assign and quitclaim quitclaims to Agent all of their right, title and interest of Borrower to all sums held in the Accounts (other than the Operating Account) and to the extent not held in an account, all sums held by Agent for the account of Borrower or Operating Lessee and any other security delivered by Borrower or Operating Lessee as additional security (a security interest in all of the foregoing being granted hereby to Agent) for the Loan and the performance by Borrower of its obligations under the ObligationsLoan Documents, all of which security may be utilized by Agent for the purposes set forth in Section 6.3 8.4 hereof or the other Loan Documents or applied against the Obligations in such order and manner as Agent shall determine.

Assignment of Funds. Upon the occurrence and during the continuance of any Event of Default, the rights, powers and privileges provided in Sections 6.3 11.3 and 6.4 11.4 hereof and all other remedies available to Agent under this Loan Agreement or the other Loan Documents or by statute or by rule of law or equity may be exercised by Agent at any time and from time to time whether or not the Obligations shall be due and payable, and whether or not Agent shall have instituted any foreclosure or other action for the enforcement of any of the Security Documents, the Note or the other Loan Documents. Borrower hereby assigns and Operating Lessee hereby assign and quitclaim quitclaims to Agent all of their right, title and interest of Borrower to all sums held in the Accounts and to the extent not held in an account, all sums held by Agent for the account of Borrower or Operating Lessee and any other security delivered by Borrower or Operating Lessee as additional security (a security interest in all of the foregoing being granted hereby to Agent) for the Loan and the performance by Borrower of its obligations under the ObligationsLoan Documents, all of which security may be utilized by Agent for the purposes set forth in Section 6.3 Sections 11.3 and 11.4 hereof or the other Loan Documents or applied against the Obligations in such order and manner as Agent shall determine.