Common use of PROCEEDS AND COLLECTIONS Clause in Contracts

PROCEEDS AND COLLECTIONS. (a) All Receipts and all cash proceeds of any sale or other disposition of any Collateral: (i) Constitute Collateral and Proceeds of Collateral. (ii) Shall be held in trust by the Borrower for the Agent. (iii) Shall not be commingled with the Borrower’s other funds, except as provided in Section 8.4(c). (iv) Shall be deposited and/or transferred only to the Local Accounts, the Blocked Accounts or the Concentration Account. (b) The Borrower shall cause the then contents of each Local Account (other than any Exempt DDA) to be transferred to a Blocked Account or the Concentration Account, by ACH or wire transfer, no less frequently than daily on each Business Day. (c) In the event that, notwithstanding the provisions of this Section 8.4, 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 the Borrower for the Agent and shall not be commingled with any of the Borrower’s other funds and shall be deposited and/or transferred to the Blocked Account or the Concentration Account directly or as provided in paragraph (b).

PROCEEDS AND COLLECTIONS. (a) All Receipts and all cash proceeds of any sale or other disposition of any Collateral: (i) Constitute Collateral and Proceeds of Collateral. (ii) Shall be held in trust by the Borrower for the Agent. (iii) Shall not be commingled with the Borrower’s 's other funds, except as provided in Section 8.4(c). (iv) Shall be deposited and/or transferred only to the Local Accounts, the Blocked Accounts or the Concentration Account. (b) The Borrower shall cause the then contents of each Local Account (other than any Exempt DDA) to be transferred to a Blocked Account or the Concentration Account, by ACH or wire transfer, no less frequently than daily on each Business Day. (c) In the event that, notwithstanding the provisions of this Section 8.4, 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 the Borrower for the Agent and shall not be commingled with any of the Borrower’s 's other funds and shall be deposited and/or transferred to the Blocked Account or the Concentration Account directly or as provided in paragraph (b).

PROCEEDS AND COLLECTIONS. (a) All Receipts and all cash proceeds of any sale or other disposition of any Collateral: (i) Constitute Collateral and Proceeds of Collateral. (ii) Shall be held in trust by the Borrower Borrowers for the Agent. (iii) Shall not be commingled with the Borrower’s Borrowers’ other funds, except as provided in Section 8.4(c). (iv) Shall be deposited and/or transferred only to the Local Accounts, the Blocked Accounts or the Concentration Account. (b) The Borrower Borrowers shall cause the then contents of each Local Account (other than any Exempt DDA) to be transferred to a Blocked Account or the Concentration Account, by ACH or wire transfer, no less frequently than daily on each Business Day. (c) In the event that, notwithstanding the provisions of this Section 8.4, the Borrower receives Borrowers receive or otherwise has have 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 the Borrower Borrowers for the Agent and shall not be commingled with any of the Borrower’s Borrowers’ other funds and shall be deposited and/or transferred to the a Blocked Account or the Concentration Account directly or as provided in paragraph (b).