Common use of Right to Proceeds Clause in Contracts

Right to Proceeds. In the event of a continuing Event of Default, the Trustee may demand, collect, and sue ▇▇▇ all proceeds of the Collateral (either in Debtor's or Trustee's name at the latter's option) with the right to enforce, compromise, settle, or satisfy any claim. Debtor hereby irrevocably appoints Trustee as Debtor's attorney-in-fact to endorse, by writing or stamp, Debtor's name on all checks, commercial paper, and other instruments pertaining to the proceeds. Such appointment is binding and coupled with an interest. Debtor also authorizes Trustee to collect and apply against the Indebtedness any refund of insurance premiums or any insurance proceeds payable on account of the loss of or damage to any of the Collateral and hereby irrevocably appoints Trustee as Debtor's attorney-in-fact to endorse, by writing or stamp, any check or draft representing such proceeds or refund.

Right to Proceeds. In the event of a continuing Event of Default, the Trustee may demand, collect, and sue ▇▇▇ all proceeds of the Collateral (either in Debtor's or Trustee's name at the latter's option) with the right to enforce, compromise, settle, or satisfy any claim. Debtor hereby irrevocably appoints Trustee as Debtor's attorney-in-fact to endorse, by writing or stamp, Debtor's name on all checks, commercial paper, and other instruments pertaining to the proceeds. Such appointment is binding and coupled with an interest. Debtor also authorizes Trustee to collect and apply against the Indebtedness any refund of insurance premiums or any insurance proceeds payable on account of the loss of or damage to any of the Collateral and hereby irrevocably appoints Trustee as Debtor's attorney-attorney- in-fact to endorse, by writing or stamp, any check or draft representing such proceeds or refund.