Common use of ADDITIONAL OPTIONAL REQUIREMENTS Clause in Contracts

ADDITIONAL OPTIONAL REQUIREMENTS. Grantor agrees that Secured Party may at its option at any time, whether or not the indebtedness is in default: (a) Require Grantor to segregate all collections and proceeds of the Collateral so that they are capable of identification and deliver daily such collections and proceeds to Secured Party in kind. (b) Require Grantor to deliver to Secured Party (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral. (c) Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located. (d) Require Grantor to deliver to Secured Party any instruments or chattel paper. (e) Require Grantor to obtain Secured Party's prior written consent to any sale, lease, agreement to sell or lease, or other disposition of any inventory except such sales or dispositions made in the ordinary course of business. (f) Notify any account debtors, any buyers of the Collateral, or any other persons of Secured Party's interest in the Collateral. (g) Upon the occurrence and during the continuance of an Event of Default, require Grantor to direct all account debtors to forward all payments and proceeds of the Collateral to a post office box under Secured Party's exclusive control. (h) Upon the occurrence and during the continuance of an Event of Default, demand and collect any payments and proceeds of the Collateral. In connection therewith Grantor irrevocably authorizes Secured Party to endorse or sign Grantor's name on all checks, drafts, collections, receipts and other documents, and to take possession of and open the mail addressed to Grantor and remove therefrom any payments and proceeds of the Collateral.