Common use of Payments in Respect of Accounts Clause in Contracts

Payments in Respect of Accounts. The Company shall not, nor shall it permit any of its Subsidiaries organized under the laws of the United States or the United Kingdom to, instruct or otherwise permit any Person obligated under any of the Accounts (as defined in the Security Agreements) to remit any payment (whether by check, wire transfer or otherwise) to any account other than a Lock Box Account (as defined in the Lock Box Agreement) established by the Agent pursuant to a Lock Box Agreement, other than, in the case of amounts owing to the UK Borrower and its Subsidiaries, payments which are made through an alternate means which (in the reasonable judgment of the Agent) (a) enables the Agent to maintain a perfected, first priority security interest in such payments and the proceeds thereof and (b) provides for the application of such proceeds in the same manner as payments deposited in a Lock Box Account. The Company hereby agrees that it shall not, and shall not permit any of its Subsidiaries to, cause or permit any amounts which are not Collateral to be deposited in the Lock Box Accounts (as defined in the Lock-Box Agreement).