COLLECTION AND ADMINISTRATION. 6.1 Borrower's Loan Account. Lender shall maintain one or more loan account(s) on its books in which shall be recorded (a) all Loans, Letter of Credit Accommodations and other Obligations and the Collateral, (b) all payments made by or on behalf of Borrower and (c) all other appropriate debits and credits as provided in this Agreement, including fees, charges, costs, expenses and interest. All entries in the loan account(s) shall be made in accordance with Lender's customary practices as in effect from time to time.
COLLECTION AND ADMINISTRATION. 5.1. Until our authority to do so is curtailed or terminated at any time by you, we shall, at our expense and on your behalf, collect, as your property and in trust for you, all remittances and all amounts unpaid on Accounts, and we shall not commingle such collections with our own funds. We shall on the day received remit all such collections to you in the form received duly endorsed by us for deposit with you, unless you shall direct us otherwise. All amounts collected on Accounts when received by you shall be credited to our loan account, after adding three (3) business days for collection, clearance and transfer of remittances, except for federal funds wire transfers, as to which two (2) business days shall be added, conditional upon final payment to you.
COLLECTION AND ADMINISTRATION. 2.1 Grantor is authorized to collect the accounts and any other proceeds of Collateral, on behalf of and in trust for Secured Party, at Grantor's expense, but such authority shall automatically terminate upon an Event of Default. Secured Party may modify or terminate such authority at any time after the occurrence of an Event of Default and directly collect the accounts and other monetary obligations included in the Collateral. After the occurrence of an Event of Default, Grantor shall, at Grantor's expense and in the manner requested by Secured Party from time to time, direct that remittances and all other proceeds of accounts and other Collateral shall be (a) sent to a post office box designated by and/or in the name of Secured Party or in the name of Grantor, but as to which access
COLLECTION AND ADMINISTRATION. 6.1 Borrowers’ Loan Accounts 6.2 Statements 6.3 Collection of Accounts.
COLLECTION AND ADMINISTRATION. 5.1 Borrower is authorized to collect the accounts and any other proceeds of Collateral on behalf of and in trust for Lender, at Borrower's expense, but such authority shall automatically terminate upon an Event of Default. Lender may modify or terminate such authority at any time whether or not an Event of Default has occurred and directly collect the accounts and other monetary obligations included in the Collateral; provided however that Lender shall provide Borrower with copies of correspondence to account debtors of Borrower by which Lender requests or demands that future payments due to Borrower be paid directly to Lender and copies of checks and remittance advices received by Lender from such account debtors. Borrower shall, at Borrower's expense and in the manner requested by Lender from time to time, direct that remittances and all other proceeds of accounts and other Collateral shall be (a) sent to a post office box designated by and/or in the name of Lender, or in the name of Borrower, but as to which access is limited to Lender and/or (b) deposited into a bank account maintained in the name of Lender and/or a blocked bank account under arrangements with the depository bank under which all funds deposited to such blocked bank account are required to be transferred solely to Lender. In connection therewith, Borrower shall execute such post office box, lock box, and/or blocked bank account agreements as Lender shall specify. Notwithstanding anything herein to the contrary, upon at least three (3) business days prior written notice to Lender, and so long as at the time of such notice there are no Obligations outstanding and no Event of Default has occurred or is continuing, Borrower may advise Lender to remit proceeds from the lock box directly to Borrower's operating account instead of to Lender's collateral proceeds account. Borrower acknowledges that during such period of time while proceeds are deposited from the lock box to Borrower's operating account, Borrower will not be permitted to borrow money from or have Accommodations issued through Lender. Borrower shall give Lender at least fifteen (15) calendar days prior written notice of its desire to reinstitute the deposit of proceeds from the lock box to Lender's collateral proceeds account. Upon receipt of such notice, Lender reserves the right to conduct a field examination. At the end of such fifteen (15) calendar day period, so long as Borrower is otherwise in compliance with its obligatio...