Collection of Proceeds Sample Clauses
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Collection of Proceeds. 3.1 Upon the occurrence and during the continuance of an Event of Default, immediately upon notice to Debtor by Bank, Debtor agrees to hold in trust for Bank all payments received in connection with the Collateral and from the sale, lease or other disposition of any Collateral, all rights by way of suretyship or guaranty and all rights in the nature of a mortgage, lien or security interest which Debtor now has or may later acquire regarding the Collateral. Debtor agrees to collect and enforce payment of all Collateral until Bank shall direct Debtor to the contrary and, from and after this direction, Debtor agrees to fully and promptly cooperate and assist Bank (or any other person as Bank shall designate) in the collection and enforcement of all Collateral. Immediately upon notice to such effect to Debtor by Bank and at all times after that, Debtor agrees to (a) endorse to Bank and immediately deliver to Bank all payments received by Debtor on Collateral or from the sale, lease or other disposition of any Collateral or arising from any other rights or interests of Debtor in the Collateral, in the form received by Debtor without commingling with any other funds, and (b) immediately deliver to Bank all property in Debtor's possession or later coming into Debtor's possession through enforcement of Debtor's rights or interests.
3.2 During the continuation of an Event of Default, Debtor irrevocably authorizes Bank or any Bank employee or agent to endorse the name of Debtor upon any Collateral, checks, or other items which are received in payment of any Collateral, and to do any and all things necessary in order to reduce these items to money.
3.3 Bank shall have no duty as to the collection or protection of Collateral or the proceeds of it, nor as to the preservation of any related rights, beyond the use of reasonable care in the custody and preservation of Collateral in the possession of Bank. Debtor agrees to take all steps necessary to preserve rights against prior parties with respect to Debtor's Property in Possession of Bank.
3.4 For the purpose of calculating interest on the Indebtedness, Debtor understands that Bank imposes a minimum one business day delay in crediting payments received by Bank against the Indebtedness to allow time for collection and Debtor agrees that Bank may, at Bank's option, make such credits only when payments are actually collected by Bank in immediately available funds. Any credit of payment by Bank prior to receipt by Bank of ...
Collection of Proceeds. The Trustee may take such action as is necessary to collect the proceeds of any life insurance policy, or provide for the payment of retirement plan, ▇▇▇, or other benefits payable to the Trust. If probate administration has not or will not be commenced, the Trustee shall have the power to collect tax refunds, health insurance, proceeds, refunds under any contract, death benefits, or any other item which might otherwise be payable to the deceased Trustor’s estate.
Collection of Proceeds. RB Group shall collect the full proceeds from the sale of the Equipment and you assign to RB Group: (a) the amount required to discharge and satisfy all Encumbrances in respect of the Equipment; and (b) all amounts payable to RB Group hereunder, including commission and any advances, together with interest thereon which shall be repayable at the time of the sale.
Collection of Proceeds. Collect the proceeds of indebtedness owing to Debtor by any Person under any instrument or by any account debtor with respect to any account, contract right, chattel paper or general intangible.
Collection of Proceeds. 3.1 Debtor agrees to collect and enforce payment of all Collateral until Secured Party shall direct Debtor to the contrary. Immediately upon notice to Debtor by Secured Party and at all times after that, Debtor agrees to fully and promptly cooperate and assist Secured Party in the collection and enforcement of all Collateral and to hold in trust for Secured Party all payments received in connection with Collateral and from the sale, lease or other disposition of any Collateral, all rights by way of suretyship or guaranty and all rights in the nature of a lien or security interest which Debtor now or later has regarding Collateral. Immediately upon and after such notice, Debtor agrees to (a) endorse to Secured Party and immediately deliver to Secured Party all payments received on Collateral or from the sale, lease or other disposition of any Collateral or arising from any other rights or interests of Debtor in the Collateral, in the form received by Debtor without commingling with any other funds, and (b) immediately deliver to Secured Party all property in Debtor’s possession or later coming into Debtor’s possession through enforcement of Debtor’s rights or interests in the Collateral, Debtor irrevocably authorizes Secured Party or any Secured Party employee or agent to endorse the name of Debtor upon any checks or other items which are received in payment for any Collateral, and to do any and all things necessary in order to reduce these items to money. Secured Party shall have no duty as to the collection or protection of Collateral or the proceeds of it, nor as to the preservation of any related rights, beyond the use of reasonable care in the custody and preservation of Collateral in the possession of Secured Party. Debtor agrees to take all steps necessary to preserve rights against prior parties with respect to the Collateral. Nothing in this Section 3.1 shall be deemed a consent by Secured Party to any sale, lease or other disposition of any Collateral.
3.2 Debtor agrees that immediately upon Secured Party’s request (whether or not any Event of Default exists) but subject to the rights as of the date hereof of Comerica Bank and/or CIT Group/Commercial Services, Inc., the Secured Obligations shall be on a “remittance basis” in accordance with the following. In connection therewith, Debtor shall at its sole expense establish and maintain (and Secured Party, at Secured Party’s option may establish and maintain at Debtor’s expense):
(a) A United States...
Collection of Proceeds. Each of the Parties shall execute such documents as may be reasonably required to facilitate collection of any insurance proceeds paid or payable in connection with any casualty affecting the Premises.
Collection of Proceeds. Agent is hereby authorized to collect all ---------------------- condemnation proceeds directly, and after deducting from such proceeds the reasonable expenses, if any, incurred by Agent in the collection or handling thereof, Agent shall promptly apply such proceeds to the Obligations; provided, however, that if no Default or Event of Default has occurred and is continuing, Agent shall permit or require Borrower to use such money, or any part thereof, to replace, repair, restore or rebuild the relevant property within one hundred and eighty (180) days of the condemnation event in a diligent and expeditious manner with materials and workmanship of substantially the same quality as existed before the condemnation event; provided, however, that Borrower must first demonstrate to the reasonable satisfaction of Agent and the Majority Lenders that (i) the funds available to Borrower will be sufficient to complete such project in the manner provided therein; and (ii) Borrower shall be able to meet all of its Obligations (including its obligation to make principal and interest payments hereunder) at all times during the repair or replacement of the property so condemned.
Collection of Proceeds. Nothing herein contained shall limit or restrict the right of ▇▇▇▇ to collect any proceeds paid to LP upon the exercise of the Option Agreement.
Collection of Proceeds. The Issuer shall collect amounts payable under the Reference Instruments and apply them in accordance with these Terms and Conditions.
Collection of Proceeds. The Insurance Trustee shall not be responsible for the collection or non-collection of any insurance money in any event but only for such insurance money and any additional funds as shall come into its hands. City, Tenant, any Qualified Mortgagee of Tenant’s leasehold interest in the Leased Premises and any other person having an interest under any such insurance policy shall cooperate with and aid the Insurance Trustee in collecting any and all insurance money and will execute and deliver as requested by the Insurance Trustee any and all proofs, receipts, releases and other documents and writings whatsoever which may be necessary or proper for such purpose. In the event that any person having an interest under any such insurance policy shall fail or neglect so to cooperate or to execute, acknowledge and deliver any such instrument, the Insurance Trustee may, as the agent or attorney-in-fact of any such person, execute and deliver any proofs of loss or any other instruments as may seem desirable to the Insurance Trustee for the collection of such insurance monies, and all such persons having obtained an interest in any such insurance policy shall be deemed to have irrevocably nominated, constituted and appointed the Insurance Trustee its proper and legal attorney-in-fact for such purpose.