Turnover of Collected Indebtedness. During a continuing Event of Default under the Term Note, Revolving Note, Loan Agreement or any other Loan Document if, notwithstanding anything herein, the Personal Guarantor shall collect, enforce or receive any amounts in respect of any indebtedness due from the Borrower, such amounts shall be collected, enforced and received by the Personal Guarantor as trustees for the Lender and be paid over to the Lender on account of the Borrower’s Obligations, without affecting in any manner the liability of the Personal Guarantor under the other provisions of this Personal Guaranty.
Appears in 2 contracts
Sources: Guaranty Agreement, Guaranty Agreement (Softech Inc)