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 of the Borrower's assets, other than Equipment, Fixtures, and/or Leasehold Interests: (i) Constitute Collateral and proceeds of Collateral. (ii) Shall be held in trust by the Borrower for the Lender. (iii) Shall be deposited and/or transferred only to the Blocked Account. (b) The Borrower shall cause the ACH or wire transfer to the Blocked Account, not less frequently than twice each week, and on any day that the aggregate balance in all DDA's is greater than or equal to $30,000.00 (and whether or not there is then an outstanding balance in the Loan Account) of the following: (i) The then contents of each DDA (other than any Exempt DDA), each such transfer to be net of any minimum balance, not to exceed $3,000.00, as may be required to be maintained in the subject DDA by the bank at which such DDA is maintained. (ii) The proceeds of all credit card charges not otherwise provided for pursuant hereto. (c) In the event that, notwithstanding the provisions of this Section 7.2, 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 Lender and shall not be commingled with any of the Borrower's other funds or deposited in any account of the Borrower other than as instructed by the Lender.

PROCEEDS AND COLLECTIONS. (a) All Receipts and all cash proceeds of any sale or other disposition (including, without limitation, any Permitted Disposition) of any of the Borrowereach Loan Party's assets, other than Equipment, Fixtures, and/or Leasehold Interests: (i) Constitute Collateral and proceeds of Collateral. (ii) Shall be held in trust by the Borrower Loan Parties for the LenderAgent. (iii) Shall not be commingled with any of any Loan Party's other funds. (iv) Shall be deposited and/or transferred only from a DDA to the a Blocked Account. (b) The Whether or not any Liabilities are then outstanding, the Lead Borrower shall cause the ACH or wire transfer to the Blocked Concentration Account, not less frequently than twice each week, and on any day that the aggregate balance in all DDA's is greater than or equal to $30,000.00 daily (and whether or not there is then an outstanding balance in the Loan Account) ), of the following: (i) The then contents of each DDA (other than any Exempt DDADDA and other than the Operating Account), including each Blocked Account, each such transfer to be net of any minimum balance, not to exceed $3,000.005000.00, as may be required to be maintained in the subject DDA by the bank at which such DDA is maintained. (ii) The proceeds of all credit card charges not otherwise provided for pursuant hereto. Telephone advice (confirmed by written notice) shall be provided to the Agent on each Business Day on which any such transfer is made. (c) In the event that, notwithstanding the provisions of this Section 7.27.4, the Borrower any Loan Party 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 that Loan Party for the Lender Agent and shall not be commingled with any of the Borrowerthat Loan Party's other funds or deposited in any account of the Borrower any Loan Party other than as instructed by the LenderAgent.

PROCEEDS AND COLLECTIONS. (a) All Receipts and all cash proceeds of any sale or other disposition of any of the each Borrower's assets, other than Equipment, Fixtures, and/or Leasehold Interests: (i) Constitute Collateral and proceeds of Collateral. (ii) Shall be held in trust by the Borrower Borrowers for the LenderAgent. (iii) Shall After deposit into a DDA, if applicable, shall be deposited and/or transferred only to the Blocked Account. (b) The Lead Borrower shall cause the ACH or wire transfer to the Blocked Account, not less frequently than twice each weekdaily (except in a circumstance, as confirmed in writing by the Agent, in the Agent's sole and on any day that the aggregate balance in all DDA's exclusive discretion, where (x) remaining Availability is greater than or equal to $30,000.00 20,000,000.00, and (and whether or y) the Borrowers are not there is then an outstanding balance in the Loan AccountIn Default and/or no Event of Default has occurred) of the following: (i) The then contents of each DDA (other than any Exempt DDA), each such transfer to be net of any minimum balance, not to exceed $3,000.001,000.00, as may be required to be maintained in the subject DDA by the bank at which such DDA is maintained. (ii) The proceeds of all credit card charges not otherwise provided for pursuant hereto. (iii) Telephone advice (confirmed by written notice) shall be provided to the Agent on each Business Day on which any such transfer is made. (c) In the event that, notwithstanding the provisions of this Section 7.2, the 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 the that Borrower for the Lender Agent and shall not be commingled with any of the that Borrower's other funds or deposited in any account of the any Borrower other than as instructed by the LenderAgent.