Common use of Accounts and Pledged Indebtedness Clause in Contracts

Accounts and Pledged Indebtedness. Each Obligor will, immediately upon the receipt thereof, deliver to the Agent any promissory note or similar instrument, but not in any event including normal invoices in the ordinary course of business, representing any Account or Pledged Indebtedness, after having endorsed such promissory note or instrument in blank.

Appears in 3 contracts

Samples: Guarantee and Security Agreement (Nextera Enterprises Inc), Guarantee and Security Agreement (Nextera Enterprises Inc), Guarantee and Security Agreement (Nextera Enterprises Inc)

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Accounts and Pledged Indebtedness. Each Obligor will, immediately upon the receipt thereof, deliver to the Collateral Agent any promissory note or similar instrument, but not in any event including normal invoices in the ordinary course of business, instrument representing any Account or Pledged Indebtedness, after having endorsed such promissory note or instrument in blank.

Appears in 1 contract

Samples: Security Agreement (American Biltrite Inc)

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