Common use of Accounts Collection Clause in Contracts

Accounts Collection. At any time after the occurrence and during the continuation of an Event of Default, Agent may notify any Person owing funds to Borrower of Agent’s security interest in such funds and verify the amount of such Account. Borrower shall collect all amounts owing to Borrower for Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such payments to Agent (for the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 4 contracts

Samples: Loan and Security Agreement (Kala Pharmaceuticals, Inc.), Loan and Security Agreement (Kala Pharmaceuticals, Inc.), Loan and Security Agreement (Kala Pharmaceuticals, Inc.)

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Accounts Collection. At any time after the occurrence and during the continuation of an Event of Default, Agent may notify any Person owing funds to Borrower a Borrowers of Agent’s security interest in such funds and verify the amount of such Account. Borrower Borrowers shall collect all amounts owing to Borrower Borrowers for Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such payments to Agent (for the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Samples: Credit Agreement (Trupanion Inc.), Credit Agreement (Trupanion Inc.)

Accounts Collection. At any time after the occurrence and during the continuation of an Event of Default, Agent may notify any Person owing funds to a Borrower of Agent’s security interest in such funds and verify the amount of such Account. Borrower Borrowers shall collect all amounts owing to any Borrower for Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such payments to Agent (for the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 2 contracts

Samples: Loan and Security Agreement (Asante Solutions, Inc.), Loan and Security Agreement (Asante Solutions, Inc.)

Accounts Collection. At any time after the occurrence and during the continuation of an Event of Default, Agent may notify any Person owing funds to Borrower of Agent’s security interest in such funds and verify the amount of such Account. Borrower shall collect all amounts owing to Borrower for Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such payments to Agent (for the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Ammo, Inc.)

Accounts Collection. At any time after the occurrence Upon and during the continuation of an Event of Default, Agent may notify any Person owing funds to Borrower of Agent’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such payments to Agent (for the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Nextg Networks Inc)

Accounts Collection. At any time after After the occurrence and during the continuation of an Event of DefaultDefault that continues, Agent may notify any Person owing funds to Borrower of Agent’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such payments to Agent (for the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Aviza Technology, Inc.)

Accounts Collection. At any time after the occurrence and during the continuation of When an Event of DefaultDefault occurs and continues, Agent may notify any Person owing funds to Borrower Borrowers money of Agent’s Lenders’ security interest in such the funds and verify the amount of such the Account. Borrower shall Borrowers must collect all amounts owing to Borrower payments in trust for Lenders and, if requested by Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such the payments to Agent (for or Lenders in the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Perficient Inc)

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Accounts Collection. At any time after the occurrence and during the continuation of When an Event of DefaultDefault occurs and continues, Agent may notify any Person owing funds to Borrower money of Agent’s 's security interest in such the funds and verify the amount of such the Account. Borrower shall must collect all amounts owing to Borrower payments in trust for Lenders and, if requested by Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such the payments to Agent (for in the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Onyx Software Corp/Wa)

Accounts Collection. At any time after After the occurrence and during the continuation continuance of an Event of Default, Agent may notify any Person owing funds to Borrower of Agent’s security interest in such funds and verify the amount of such Account. Borrower shall collect all amounts owing to Borrower for Agent, receive in trust all payments as Agent’s trustee, and immediately deliver such payments to Agent (for the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (Ubiquiti Networks, Inc.)

Accounts Collection. At any time after the occurrence and during the continuation continuance of an Event of Default, Agent may notify any Person owing funds to a Borrower of Agent’s security interest in such funds and verify the amount of such Account. Each Borrower shall collect all amounts owing to such Borrower for Agent, receive in trust all payments as Agent’s trustee, and immediately promptly (within one (1) Business Day) deliver such payments to Agent (for the benefit of the Lenders) in their original form as received from the account debtor, with proper endorsements for deposit.

Appears in 1 contract

Samples: Loan and Security Agreement (ThredUp Inc.)

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