Common use of Notification of Assignment of Receivables Clause in Contracts

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Default, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and Lender' security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's account and added to the Obligations.

Appears in 1 contract

Sources: Revolving Credit and Security Agreement (Prima Group International Inc)

Notification of Assignment of Receivables. At any time following after the occurrence of an Event of Default or a Incipient Event of Default, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and the Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection All costs, fees and expenses, including, but not limited to, including stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's the Borrowers' account and added to the Obligations.

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Notification of Assignment of Receivables. At any time following Upon the occurrence of an Event of Default or a Default, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's Borrowers' account and added to the Obligations.

Appears in 1 contract

Sources: Revolving Credit and Security Agreement (Parlux Fragrances Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Default, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and the Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. The Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's account the Loan Account and added to the Obligations.

Appears in 1 contract

Sources: Credit and Security Agreement (Blonder Tongue Laboratories Inc)

Notification of Assignment of Receivables. At any time following the occurrence and during the continuance of an Event of Default or a Default, or at such other times as permitted under the Factoring Agreement Lender Agent shall have the right to send notice of the assignment of, and Lender' Agent's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. ThereafterDuring the existence of an Event of Default, Lender Agent shall have the sole right to collect the Receivables, take possession of the Collateral, or both. LenderAgent's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's account Account and added to the Obligations.

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Security Agreement (Danskin Inc)

Notification of Assignment of Receivables. At any time following the occurrence and during the continuance of an Event of Default or a Default, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's account Borrowers' Account and added to the Obligations.

Appears in 1 contract

Sources: Credit and Security Agreement (Cold Metal Products Inc)

Notification of Assignment of Receivables. At any time following the occurrence and during the continuance of an Event of Default or a Default, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's account and added to the Obligations.

Appears in 1 contract

Sources: Credit and Security Agreement (Cold Metal Products Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Defaulthereunder, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and the Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, including but not limited to, to stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account and added to the Obligations.

Appears in 1 contract

Sources: Revolving Credit and Security Agreement (Advanced Lighting Technologies Inc)

Notification of Assignment of Receivables. At any time following after the occurrence of an Event of Default or a Incipient Event of Default, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and the Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection All costs, fees and expenses, including, but not limited to, including stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's account and added to the Obligations.

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Defaulttime, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. ThereafterAt any time after the occurrence of any Event of Default, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, applicable secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's account Borrower and added to the Obligations.

Appears in 1 contract

Sources: Term Loan and Security Agreement (Harolds Stores Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Default, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's account Account and added to the Obligations.. "

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Security Agreement (Measurement Specialties Inc)

Notification of Assignment of Receivables. At any time following Following the occurrence of an Event of Default or a Defaultwhich shall be continuing, or at such other times as permitted under the Factoring Agreement Lender shall have the right to send notice of the assignment of, and Lender' 's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraphtelecopy, reasonable secretarial and clerical expenses and the reasonable salaries of any collection personnel used for collection, may be charged to Borrower's account Account and added to the Obligations.

Appears in 1 contract

Sources: Revolving Credit and Security Agreement (Meridian Sports Inc)