Proceeds and Collection of Accounts Held in Trust. In the event that, notwithstanding the provisions of this Article, any Borrower receives or otherwise has dominion and control of any Receipts, or any proceeds or collections of any Collateral, such Receipts, proceeds, and collections shall be held in trust by such Borrower for the Lenders and shall not be commingled with any of such Borrower's other funds or deposited in any account of the Borrower other than as instructed by the Administrative Agent.
Appears in 1 contract
Sources: Loan and Security Agreement (Dynamics Research Corp)
Proceeds and Collection of Accounts Held in Trust. In the event that, notwithstanding the provisions of this Article, any Borrower receives or otherwise has dominion and control of any Receipts, or any proceeds or collections of any Collateral, such Receipts, proceeds, and collections shall be held in trust by such Borrower for the Lenders Lender and shall not be commingled with any of such Borrower's other funds or deposited in any account of the Borrower other than as instructed by the Administrative AgentLender.
Appears in 1 contract
Proceeds and Collection of Accounts Held in Trust. In the event ------------------------------------------------- that, notwithstanding the provisions of this Article, any the Borrower receives or otherwise has dominion and control of any Receipts, or any proceeds or collections of any Collateral, such Receipts, proceeds, and collections shall be held in trust by such the Borrower for the Lenders Lender and shall not be commingled with any of such the Borrower's other funds or deposited in any account of the Borrower other than as instructed by the Administrative AgentLender.
Appears in 1 contract
Sources: Loan and Security Agreement (Number Nine Visual Technology Corp)