Common use of Collateral Proceeds Clause in Contracts

Collateral Proceeds. Until written notice shall be given to Pledgor in accordance with Section 5.02(d) that Secured Party has exercised its rights under Section 5.02(d) to vote the Collateral, Pledgor shall be entitled to receive and collect for its own use all Collateral Proceeds.

Appears in 2 contracts

Sources: Secured Credit Agreement (Quanta Services Inc), Credit Agreement (Quanta Services Inc)