Electronic Proceeds of Collateral Sample Clauses

Electronic Proceeds of Collateral. In the event Borrower receives proceeds of Collateral in the form of wire transfer or other intangible funds transfer mechanism, Borrower shall immediately pay such proceeds to Lender.
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Electronic Proceeds of Collateral. If any Account Debtor is to make payment to Borrower by wire transfer or other electronic funds-transfer mechanism, Borrower will direct such Account Debtor to make such payment directly to a bank account designated by Lender from time to time. In the event that Borrower otherwise receives any proceeds of Collateral from any person or entity in the form of a wire transfer or other electronic funds-transfer mechanism, Borrower will immediately pay such proceeds to Lender (or cause the same to be paid to Lender) by wire transfer.
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Electronic Proceeds of Collateral. If any Account Debtor is to make payment to a Credit Party by wire transfer or other electronic funds-transfer mechanism, such Credit Party will direct such Account Debtor to make such payment directly to a bank account designated by Lender from time to time. In the event that any Credit Party otherwise receives any proceeds of Collateral from any person or entity in the form of a wire transfer or other electronic funds-transfer mechanism, such Credit Party will immediately pay such proceeds to Lender (or cause the same to be paid to Lender) by wire transfer.
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Related to Electronic Proceeds of Collateral

  • Proceeds of Collateral Borrowers shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to a Dominion Account (or a lockbox relating to a Dominion Account). If any Borrower or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account.

  • Application of Proceeds of Collateral Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default, upon the termination of the Revolving Credit Aggregate Commitment, the acceleration of any Indebtedness arising under this Agreement and/or the exercise of any other remedy in each case by the requisite Lenders under Section 9.2 hereof, the Agent shall apply the proceeds of any Collateral, together with any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of any Loan Document, next, to pay any fees and expenses owed to the Issuing Lender hereunder, next, to the Indebtedness under the Revolving Credit (including the Swing Line and any Reimbursement Obligations), any obligations owing by any Credit party under any Hedging Agreements or in connection with any Lender Products on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any excess, to the Credit Parties or as otherwise required under applicable law, as the case may be.

  • Loss of Collateral There occurs any uninsured loss to any material portion of the Collateral; or

  • Types of Collateral None of the Collateral consists of, or is the Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products, Manufactured Homes or standing timber.

  • Locations of Collateral (a) Properties Owned by the Grantor: (b) Properties Leased by the Grantor or other related entity (Include Landlord’s Name): (c) Public Warehouses or other Locations pursuant to Bailment or Consignment Arrangements (include name of Warehouse Operator or other Bailee or Consignee):