Common use of Proceeds of Accounts Clause in Contracts

Proceeds of Accounts. At any time after the occurrence and during the continuance of an Event of Default, the Borrower shall, upon the request of the Majority Lenders, instruct all account debtors and other Persons obligated in respect of all Accounts to make all payments in respect of the Accounts directly to the Lenders (by instructing that such payments be remitted to a post office box which shall be in the name and under the control of the Lenders). In addition to the foregoing, the Borrower agrees that, at any time after the occurrence and during the continuance of an Event of Default, if the proceeds of any Collateral hereunder (including the payments made in respect of Accounts) shall be received by it, the Borrower shall, upon the request of the Majority Lenders, as promptly as possible deposit such proceeds into the Collateral Account. Until so deposited, all such proceeds shall be held in trust by the Borrower for and as the property of the Lenders and shall not be commingled with any other funds or property of the Borrower.

Proceeds of Accounts. At any time after Upon the occurrence and during the ---------------------- continuance of an Event of Default, if so requested by the Borrower shallLender, upon the request of the Majority Lenders, Company shall instruct all account debtors and other Persons obligated in respect of all Accounts to make all payments in respect of the Accounts directly to the Lenders (by instructing that such payments be remitted to a post office box which shall be in the name and under the control of the Lenders)Agent. In addition to the foregoing, the Borrower Company agrees that, at any time after the occurrence and during the continuance of an Event of Default, that if the proceeds of any Collateral hereunder (including the payments made in respect of Accounts) shall be received by it, the Borrower Company shall, upon the request of the Majority Lenders, as promptly as possible deposit after requested to do so by the Lender upon the occurrence and during the continuance of an Event of Default, deliver such proceeds into to the Collateral AccountLender in original form received together with any necessary endorsement. Until so depositeddelivered to the Agent, all such proceeds shall be held in trust by the Borrower Company for and as the property of the Lenders and shall not be commingled with any other funds or property of the BorrowerCompany. Without limiting the foregoing, the Company shall enter into a "lock-box" agreement for the deposit and disbursement of funds received by the Company.