Common use of Borrowing Base Collateral Administration Clause in Contracts

Borrowing Base Collateral Administration. (a) All data and other information relating to Accounts or other intangible Collateral shall at all times be kept by Borrowers, at their respective principal offices at the office of the ASP under the applicable Administrative Services Agreement and shall not be moved from such locations without (i) providing prior written notice to Agent, and (ii) obtaining the prior written consent of Agent, which consent shall not be unreasonably withheld, delayed or conditioned. (b) Borrowers shall provide prompt written notice to each Person who either is currently an Account Debtor or becomes an Account Debtor at any time following the date of this Agreement that directs each Account Debtor to make payments into the Lockbox, and hereby authorizes Agent, upon Borrowers’ failure to send such notices within ten (10) days after the date of this Agreement (or ten (10) SAN_FRANCISCO/#11685.11 days after the Person becomes an Account Debtor), to send any and all similar notices to such Person. Agent reserves the right to notify Account Debtors that Agent has been granted a Lien upon all Accounts.

Borrowing Base Collateral Administration. (a) All data and other information relating to Accounts or other intangible Collateral shall at all times be kept by Borrowers, at their respective principal offices at (or in electronic form in the office of the ASP under the applicable Administrative Services Agreement “cloud” where Agent has access) and shall not be moved from such locations without (i) providing prior written notice to Agent, and (ii) obtaining the prior written consent of Agent, which consent shall not be unreasonably withheld, delayed or conditioned.. Midcap / Transfix / A&R Credit Agreement (b) Borrowers the Credit Parties shall provide prompt written notice to each Person who either is currently an Account Debtor or becomes an Account Debtor at any time following the date of this Agreement that directs each Account Debtor to make payments into the Lockbox, and hereby authorizes Agent, upon BorrowersCredit Parties’ failure to send such notices within ten (10) days after the date of this Agreement (or ten (10) SAN_FRANCISCO/#11685.11 days after the Person becomes an Account Debtor), to send any and all similar notices to such Person. Agent reserves the right to notify Account Debtors that Agent has been granted a Lien upon all Accounts.