Making Deposits. Hold in trust for Administrative Agent and promptly (but, in any event, within three (3) Business Days following its receipt thereof) forward to a lockbox or deposit into a Collection Account all tangible Payment Items and cash such Credit Party receives on account of the payment of any of such Credit Party’s Accounts or (subject to the Intercreditor Agreement) as Proceeds of any other Collateral;
Appears in 5 contracts
Sources: Credit Agreement (Forbes Energy Services Ltd.), Credit Agreement (Forbes Energy Services Ltd.), Credit Agreement (Forbes Energy Services Ltd.)
Making Deposits. Hold in trust for Administrative Agent and promptly (but, in any event, within three (3) on the Business Days Day immediately following its receipt thereof) forward to a lockbox or deposit into a Collection Account all tangible Payment Items and cash such Credit Party receives on account of the payment of any of such Credit Party’s Accounts or (subject to the Intercreditor Agreement) as Proceeds of any Inventory or other Collateral (other than any portion thereof that constitutes Term Priority Collateral;); (c)
Appears in 1 contract
Sources: Credit Agreement and Security Agreement (Alpha Metallurgical Resources, Inc.)
Making Deposits. Hold in trust for Administrative Agent and promptly (but, in any event, within three (3) on the Business Days Day immediately following its receipt thereof) forward to a lockbox or deposit into a Collection Account all tangible Payment Items and cash such Credit Party receives on account of the payment of any of such Credit Party’s Accounts or (subject to the Intercreditor Agreement) as Proceeds of any Inventory or other Collateral;; (c)
Appears in 1 contract
Sources: Credit Agreement (Alpha Metallurgical Resources, Inc.)