Common use of Collection of Accounts; Payments Clause in Contracts

Collection of Accounts; Payments. Subject to the post-closing timing requirement specified in Section 6.10 of this Agreement, establish a payment account, or designate an existing deposit account as (in either case, the “Primary Payment Account”), which shall be a Controlled Account and into which all Account collections and other proceeds of ABL Priority Collateral will be deposited (it being understood that the Loan Parties shall promptly transfer to the Primary Payment Account any such collections or proceeds on deposit in or credited to any other payment account or other account, or received directly by any Loan Party), and the Loan Parties hereby agree that, during an Accounts Availability Triggering Event, the Collateral Agent will have exclusive control over the Primary Payment Account; provided, however, that, in the absence of an Accounts Availability Triggering Event, the Loan Parties will have exclusive right to make withdrawals from the Primary Payment Account.