Accounts Collection. At any time after the occurrence and during the continuation of an Event of Default, Bank may notify any Person owing funds to any Loan Party of Bank’s security interest in such funds and verify the amount of such Account. Each Loan Party shall collect all amounts owing to such Loan Party for Bank, receive in trust all payments as Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.
Appears in 4 contracts
Samples: Loan and Security Agreement (Apex Technology Acquisition Corp), Loan and Security Agreement (Apex Technology Acquisition Corp), Loan and Security Agreement (AvePoint, Inc.)
Accounts Collection. At any time after the occurrence and during the continuation of an Event of Default, Bank may notify any Person owing funds to any a Loan Party of Bank’s 's security interest in such funds and verify the amount of such Account. Each Loan Party shall collect all amounts owing to such Loan Party for Bank, receive in trust all payments as Bank’s 's trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit.
Appears in 2 contracts
Samples: Loan and Security Agreement (IsoPlexis Corp), Loan and Security Agreement (PhenomeX Inc.)
