Payments Directly to Secured Party Clause Samples

The "Payments Directly to Secured Party" clause establishes that certain payments, typically those owed by a debtor, must be made directly to the secured party rather than to the debtor or any intermediary. In practice, this means that if a borrower receives funds or proceeds from collateral, those amounts are to be remitted straight to the lender or creditor holding the security interest. This arrangement ensures that the secured party receives payment without delay or risk of diversion, thereby protecting their interest in the collateral and reducing the likelihood of disputes over payment allocation.
Payments Directly to Secured Party. The Secured Party may at any time ---------------------------------- and from time to time after the occurrence of an Event of Default notify, or request the Debtor to notify, in writing or otherwise, any account debtor or other obligor with respect to any one or more of the Receivables to make payment to the Secured Party or any agent or designee of the Secured Party directly, at such address as may be specified by the Secured Party. If, notwithstanding the giving of any notice, any account debtor or other such obligor shall make payment to the Debtor, the Debtor shall hold all such payments it receives in trust for the Secured Party, without commingling the same with other funds or property of or held by the Debtor, and shall promptly deliver the same to the Secured Party or any such agent or designee immediately upon receipt by the Debtor in the identical form received, together with any necessary endorsements.
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Payments Directly to Secured Party. The Secured Party may at any time and from time to time after the occurrence of an Event of Default notify, or request the Debtor to notify, in writing or otherwise, any account debtor or other obligor with respect to any one or more of the Receivables to make payment to the Secured Party or any agent or designee of the Secured Party directly, at such address as may be specified by the Secured Party. If, notwithstanding the giving of any notice, any account debtor or other such obligor shall make payment to the Debtor, the Debtor shall hold all such payments it
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Related to Payments Directly to Secured Party

  • Payments Directly to Swingline Lender The Borrower shall make all payments of principal and interest in respect of the Swingline Loans directly to the Swingline Lender.

  • Payments Directly to Swing Line Lender The Borrower shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender.

  • Program Requirements Provided At No Charge to the Judicial Council A. The Contractor shall provide the following items during the Program at no charge to the Judicial Council: i. Secured Program registration space, including two (2) easels, and one (1) house telephone. ii. Secured Meeting room, which will function as a centralized office area for the Judicial Council during the Program. iii. Secured Program storage space, which will be used to store any Materials that arrive at the Property within seventy-two (72) hours prior to the start of the Program. The Judicial Council will endeavor to ensure that all arriving Materials are marked with the Property’s address, contact’s name, and the date or name of the Program. Should Program Materials arrive at the Property more than seventy-two (72) hours before the commencement of the Program, the Contractor shall receive and store up to five (5) boxes of Materials at no charge. No less than one (1) hour prior to the commencement of the registration for the Program or commencement of the Program itself, the Contractor shall deliver all Materials at the time and to the location as directed by the Meeting Planner. iv. Complimentary guest room internet v. Five (5) complimentary parking passes

  • Unconditional Right of Holders to Receive Payment Notwithstanding any other provision in this Indenture and any other provision of any Note, the right of any Holder of any Note to receive payment of the principal of, premium, if any, and interest on such Note on or after the respective Stated Maturities (or the respective Redemption Dates, in the case of redemption) expressed in such Note, or after such respective dates, shall not be impaired or affected without the consent of such Holder. ARTICLE SIX

  • Invoicing for Charges Against the Judicial Council’s Master Account A. The Contractor shall establish a Master Account for the Judicial Council’s charges provided for under the exhibits of this Agreement. B. Charges to the Master Account shall be settled with Citibank CMC, as defined herein. C. The Contractor's final invoice for the Master Account shall include the Judicial Council Contract Number set forth on the face of this Agreement and shall be itemized to show the applicable and allowable charges by date and event/category/activity and number served, as appropriate. D. For performing the Work of this Agreement, the Contractor shall ▇▇▇▇ the Judicial Council for the total actual charges against the Master Account, based upon the prices stated herein and itemized to provide the following details, if applicable: i. Sleeping room charges as set forth in Exhibit C; ii. Meeting room rental charges as set forth in Exhibit D; iii. Food and beverage charges as set forth in Exhibit E; and/or iv. Charges for miscellaneous requirements as set forth in Exhibit F. E. If the Contract is terminated in whole or in part, pursuant to either the termination for cause provision or the Judicial Council’s obligation subject to availability of funds provision, as set forth in Exhibit A, the Contactor shall ▇▇▇▇ the Judicial Council for only those applicable and allowable charges accrued up to the effective date of termination, itemized as set forth above in this provision. F. If the Contract is terminated pursuant to the Termination Fee charge provision, as set forth in Exhibit B, the Contractor shall ▇▇▇▇ the Judicial Council for the allowable and applicable Termination Fee, as set forth in Table 2, below, and shall offset the Termination Fee by rental charges for the meeting and function rooms that the Contractor received from Third Parties during the Program