Common use of Certain Proceeds Clause in Contracts

Certain Proceeds. (a) If any Default or Event of Default shall have occurred and be continuing, the Obligor shall, upon request of the Holder, promptly notify (and the Obligor hereby authorizes the Holder so to notify) each account debtor in respect of any Accounts or Instruments that such Collateral has been assigned to the Holder under this Agreement and that any payments due or to become due in respect of such Collateral are to be made directly to the Holder. All such payments made to the Holder shall be immediately deposited in the Collateral Account. (b) The Obligor agrees that if the proceeds of any Collateral (including payments made in respect of Accounts and Instruments) shall be received by it following the occurrence and during the continuation of a Default, the Obligor shall as promptly as possible deposit such proceeds into the Collateral Account. Until so deposited, all such proceeds shall be held in trust by the Obligor for and as the property of the Holder and shall not be commingled with any other funds or property of the Obligor.

Certain Proceeds. (a) If any Default or Event of Default shall have occurred and be continuing, the Obligor shall, upon request of the HolderCollateral Agent, promptly notify (and the Obligor hereby authorizes the Holder Collateral Agent so to notify) each account debtor in respect of any Accounts or Instruments that such Collateral has been assigned to the Holder Collateral Agent under this Agreement and that any payments due or to become due in respect of such Collateral are to be made directly to the HolderCollateral Agent. All such payments made to the Holder Collateral Agent shall be immediately deposited in the Collateral Account. (b) The Obligor agrees that if the proceeds of any Collateral (including payments made in respect of Accounts and Instruments) shall be received by it following the occurrence and during the continuation of a Default, the Obligor shall as promptly as possible deposit such proceeds into the Collateral Account. Until so deposited, all such proceeds shall be held in trust by the Obligor for and as the property of the Holder Collateral Agent and shall not be commingled with any other funds or property of the Obligor.

Certain Proceeds. (a) If any Default or Event of Default shall have occurred and be continuing, the each Obligor shall, upon request of the HolderCollateral Agent, promptly notify (and the such Obligor hereby authorizes the Holder Collateral Agent so to notify) each account debtor in respect of any Accounts or Instruments that such Collateral has been assigned to the Holder Collateral Agent under this Agreement and that any payments due or to become due in respect of such Collateral are to be made directly to the HolderCollateral Agent. All such payments made to the Holder Collateral Agent shall be immediately deposited in the Collateral Account. (b) The Each Obligor agrees that if the proceeds of any Collateral (including payments made in respect of Accounts and Instruments) shall be received by it following the occurrence and during the continuation of a Default, the such Obligor shall as promptly as possible deposit such proceeds into the Collateral Account. Until so deposited, all such proceeds shall be held in trust by the each Obligor for and as the property of the Holder Collateral Agent and shall not be commingled with any other funds or property of the such Obligor.