Assignments and Records of Accounts Clause Samples
The "Assignments and Records of Accounts" clause governs the transfer of rights or obligations under a contract and the maintenance of accurate records related to those accounts. Typically, it outlines whether a party can assign its interests to another entity, such as selling receivables or delegating duties, and may require prior written consent for such assignments. Additionally, it often mandates that parties keep detailed and up-to-date records of all transactions or account activities. This clause ensures transparency, prevents unauthorized transfers, and facilitates proper tracking and management of contractual rights and obligations.
Assignments and Records of Accounts. If so requested by the Administrative Agent during the continuance of an Event of Default, each Borrower Party shall execute and deliver to the Administrative Agent, for the benefit of the Lender Group, formal written assignments of all of the Accounts constituting Collateral daily, which shall include all such Accounts that have been created since the date of the last assignment, together with copies of invoices or invoice registers related thereto. Each Borrower Party shall keep in all material respects accurate and complete records of the Accounts and all payments and collections thereon.
Assignments and Records of Accounts. If so requested by the Administrative Agent following an Event of Default, each Borrower shall execute and deliver to the Administrative Agent formal written assignments of all of the Accounts daily, which shall include all Accounts that have been created since the date of the last assignment, together with copies of invoices or invoice registers related thereto. Each Borrower shall keep accurate and complete records of the Accounts and all payments and collections thereon.
Assignments and Records of Accounts. Each Credit Party will, and will cause each of its Subsidiaries to, if so requested by the Administrative Agent following an Event of Default, execute and deliver to the Administrative Agent, for the benefit of the Secured Parties, formal written assignments of all of the Accounts daily, which shall include all Accounts that have been created since the date of the last assignment, together with copies of invoices or invoice registers related thereto. Each Credit Party shall keep accurate and complete records of the Accounts and all payments and collections thereon.
Assignments and Records of Accounts. If so requested by an Agent following an Event of Default and for so long as the same shall be continuing, the Borrowers shall execute and deliver to the Administrative Agent formal written assignments of all of the Accounts weekly (unless the Collateral Agent requests that such assignments be executed and delivered more frequently), which shall include all Accounts that have been created since the date of the last assignment, together with copies of invoices or invoice registers related thereto. Borrowers shall keep accurate and complete records of the Accounts and all payments and collections thereon.
Assignments and Records of Accounts. Upon the occurrence of an Event of Default and if so requested by the Agent, the Borrower shall execute and deliver to the Agent formal written assignments of all of the Accounts weekly, which shall include all Accounts that have been created since the date of the last assignment, together with copies of invoices or invoice registers related thereto. The Borrower shall keep accurate and complete records of the Accounts and all payments and collections thereon.
Assignments and Records of Accounts. If so requested in writing by the Administrative Agent following an Event of Default and during the continuance thereof, each Credit Party shall execute and deliver to the Administrative Agent, for the benefit of the Lender Group, formal written assignments of all of the Accounts daily, which shall include all Accounts that have been created since the date of the last assignment, together with copies of invoices or invoice registers related thereto. Each Credit Party shall keep accurate and complete records of the Accounts and all payments and collections thereon in accordance with Section 6.4.