Common use of Collateral Monitoring Clause in Contracts

Collateral Monitoring. Permit the Lender to (a) use the Borrower's stationery and sign the name of the Borrower to request verification of Accounts Receivable or other Collateral from Account Debtors, and (b) use the information recorded on or contained in any data processing equipment and computer hardware and software to which the Borrower has access relating to Accounts Receivable, Inventory, Equipment and/or other Collateral.

Appears in 4 contracts

Samples: Credit and Security Agreement (Premiumwear Inc), Credit and Security Agreement (Lifecore Biomedical Inc), Credit and Security Agreement (Primegg LTD)

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