Collection of Debts and Related Matters Sample Clauses

The 'Collection of Debts and Related Matters' clause outlines the procedures and rights associated with recovering outstanding payments owed under an agreement. Typically, this clause specifies the steps a party may take to collect overdue amounts, such as sending formal notices, applying interest on late payments, or engaging third-party collection agencies. Its core function is to ensure that there is a clear, enforceable process for addressing non-payment, thereby protecting the financial interests of the party to whom money is owed and reducing the risk of unresolved debts.
Collection of Debts and Related Matters. Each Company shall at all times during the subsistence of the security created by this Debenture. (a) get in and realise its Debts (other than credit balances on any bank accounts)in the ordinary and usual course of its business and hold the proceeds of such getting in and realisation thereof (until payment into the Special Accounts as hereinafter provided) upon trust for the Security Trustee; and (b) unless the Security Trustee otherwise agrees in writing, pay the proceeds of such getting in and realisation of its Debts into the Special Accounts. (c) Each Company shall not at any time during the subsistence of the security created by this Debenture, unless otherwise permitted to do so pursuant to the Credit Agreements, without the prior written consent of the Security Trustee charge assign or secure the Debts in favour of a third party or deal with the Debts (other than credit balances on bank accounts) otherwise than by getting in and realising the same and making payment thereof into the Special Accounts or as the Security Trustee may require. Without prejudice to the generality of the foregoing, each Company shall not at any such time factor or discount any of the debts or enter into any agreement for such factoring or discounting. (d) Prior to an Event of Default any moneys in respect of the Debts (other than credit balances on bank accounts) received by a Company and paid into any of
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Collection of Debts and Related Matters. 5.1 The Chargor shall at all times during the continuance of the security constituted by or pursuant to this Debenture: 5.1.1 use its best endeavours to get in and realise the book and other debts and monetary claims referred to in Clause 3.1.3(ii); and 5.1.2 forthwith following the Chargee's request to this effect at any time after the Chargor shall fail to pay or satisfy when due any part or parts of the Secured Debt: (i) hold the proceeds of such getting in and realisation of the book and other debts and monetary claims referred to in Clause 3.1.3(ii) (until payment to the Special Accounts as hereinafter provided) upon trust for the Chargee and promptly pay the proceeds of such getting in and realisation into such separate and denominated account or accounts with the Chargee or such other bank or banks as may be specified in writing by the Chargee (collectively the "SPECIAL ACCOUNTS") or as the Chargee may require; and (ii) not be entitled to withdraw from the Special Accounts all or any moneys standing to the credit thereof or direct any payment to be made therefrom to any person. 5.2 At any time after the Chargor shall fail to pay or satisfy when due any part or parts of the Secured Debt, the Chargee shall apply the whole of the moneys from time to time standing to the credit of the Special Accounts in or towards the discharge of all or any part of the Secured Debt.
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Related to Collection of Debts and Related Matters

  • Litigation and Related Matters The commencement of, or any material development in, any action, suit, proceeding or investigation affecting the Borrower or any of its Subsidiaries or any of their respective properties before any arbitrator or Governmental Authority, (i) in which the amount involved that the Borrower reasonably determines is not covered by insurance or other indemnity arrangement is $50,000,000 or more, (ii) with respect to any Document or any material Indebtedness or preferred stock of the Borrower or any of its Subsidiaries or (iii) which, if determined adversely to the Borrower or any of its Subsidiaries, could reasonably be expected to have a Material Adverse Effect.

  • Definitions and Related Matters For purposes of this Agreement, the capitalized terms used herein shall have the meanings assigned to them herein or in the attached Exhibit 1 and, for purposes of this Agreement and all other documents executed in connection herewith, the rules of construction set forth in Exhibit 1 shall govern.

  • Liens and Related Matters (a) Prohibition on Liens No Loan Party will, nor will it permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any property or asset of any kind (including any document or instrument in respect of goods or accounts receivable) of such Loan Party or any of its Subsidiaries, whether now owned or hereafter acquired, or any income or profits therefrom, or file or permit the filing of, or permit to remain in effect, any financing statement or other similar notice of any Lien with respect to any such property, asset, income or profits under the UCC or under any similar recording or notice statute, except: (i) Permitted Encumbrances; (ii) Liens assumed in connection with a Permitted Acquisition and Liens on assets of a Person that becomes a direct or indirect Subsidiary of Company after the date of this Agreement in a Permitted Acquisition; provided, however, that such Liens exist at the time such Person becomes a Subsidiary and are not created in anticipation of such acquisition and, in any event, do not in the aggregate secure Indebtedness in excess of $5,000,000; (iii) Liens existing on the date hereof and described in Schedule 6.2 annexed hereto; (iv) Liens on the ABL Priority Collateral granted in favor of the ABL Lenders and ABL Hedge Agreement Counterparties pursuant to and in accordance with the ABL Loan Documents; (v) Liens on fixed or capital assets acquired, constructed or improved by Company or any of its Subsidiaries; provided that (i) such security interests secure Indebtedness expressly permitted by Section 6.1, (ii) such security interests and the Indebtedness secured thereby are incurred prior to or within six months after such acquisition or the completion of such construction or improvement, (iii) the Indebtedness secured thereby does not exceed 100% of the cost of acquiring, constructing or improving such fixed or capital assets, (iv) such security interests shall not apply to any other property or assets of any Loan Party and (v) the amount of Indebtedness (other than with respect to Capital Leases) secured thereby is not increased; (vi) Liens arising from the precautionary UCC financing statement filings or any applicable filings in a foreign jurisdiction in respect thereof; (vii) Liens and other interests of lessor in respect of rental obligations under mining leases entered into by Company and its Subsidiaries in the ordinary course of business; (viii) Liens in favor of any escrow agent or a seller solely on and in respect of any ▇▇▇▇ ▇▇▇▇▇▇▇ money deposits made in connection with any letter of intent or purchase agreement permitted hereunder; and (ix) additional Liens not otherwise expressly permitted by this Section on any property or asset of any Loan Party securing obligations in an aggregate amount not exceeding $5,000,000 at any time outstanding. Notwithstanding the foregoing, no Loan Party or any of its Subsidiaries shall enter into any control agreements (as such term is defined in the UCC), other than Control Agreements entered into pursuant to Section 5.12 or the Pledge and Security Agreement or in respect of the ABL Priority Collateral granted in favor of the ABL Lenders pursuant to and in accordance with the ABL Loan Documents.

  • Indemnification and Related Matters Section 8.01

  • Capitalization and Related Matters (a) The Company has an authorized capital consisting of 230,000,000,000 shares of Common Stock and 25,000,000 shares in total of Series A-2 Convertible Preferred Stock, Series D Convertible Preferred Stock, Series C Preferred Stock and collectively with the Series E Preferred Stock, “Preferred Stock”, of which 13,489,918,237 shares of Common Stock and 3,000 shares of Preferred Stock are issued and outstanding as of the date hereof (after giving effect to the transactions contemplated hereby) as set forth on Schedule 3.2(a) hereto. All of the outstanding shares of the Company’s capital stock are, and immediately after the Closing will be, validly issued and outstanding, fully paid and non-assessable. No such stock (i) was issued in violation of the preemptive rights of any shareholder or (ii) is held as treasury stock. All of the outstanding capital stock of the Company was issued in compliance with all applicable federal and state securities or “blue sky” laws and regulations. (b) Except as set forth on Schedule 3.2(b) hereto, there are no outstanding securities convertible into Common Stock or any other capital stock of the Company nor any rights to subscribe for or to purchase, or any options for the purchase of, or any agreements providing for the issuance (contingent or otherwise) of, or any calls, commitments or claims of any character relating to, such capital stock or securities convertible into such capital stock (collectively, “Securities Rights”). Except as set forth on Schedule 3.2 hereto the Company (i) is not subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any of its capital stock; or (ii) has no liability for dividends or other distributions declared or accrued, but unpaid, with respect to any capital stock. (c) Except as set forth on Schedule 3.2(c) hereto, the Company is not a party to any agreement, understanding or arrangement, direct or indirect, relating to any class or series of the Company’s capital stock, including, without limitation, any voting agreement, restriction on resale, shareholder agreement or registration rights agreement.