Common use of Collection of Accounts; Payments Clause in Contracts

Collection of Accounts; Payments. (a) Each Loan Party shall establish a lock-box service and/or other blocked account for collections of Accounts at a bank acceptable to the Agent and pursuant to documentation satisfactory to the Agent, including lock-box agreements and blocked account agreements satisfactory to the Agent. Each Loan Party shall instruct all Account Debtors to make all payments directly to the address established for such lock-box service. If, notwithstanding such instructions, a Loan Party receives any proceeds of Accounts, it shall receive such payments as the Agent's trustee, and shall immediately deliver such payments to the Agent in their original form duly endorsed in blank or deposit them into a Payment Account, as the Agent may direct. All collections received in any such lock-box or Payment Account or directly by a Loan Party or the Agent, and all funds in any Payment Account or other account to which such collections are deposited shall be subject to the Agent's sole control. The Agent or the Agent's designee may, at any time after the occurrence of an Event of Default, notify Account Debtors that the Accounts have been assigned to the Agent and of the Agent's security interest therein, and may collect them directly and charge the collection costs and expenses to the Borrower's Loan Account as a Revolving Loan. So long as an Event of Default has occurred and is continuing, each Loan Party, at the Agent's request, shall execute and deliver to the Agent such documents as the Agent shall require to grant the Agent access to any post office box in which collections of Accounts are received.

Collection of Accounts; Payments. (a) Each Loan Party The Borrowers and Services ---------------------------------- shall establish continue to maintain a lock-box service and/or other blocked account for collections of Accounts at a bank Clearing Bank acceptable to the Agent and pursuant subject to a Blocked Account Agreement and other documentation satisfactory acceptable to the Agent, including lock-box agreements and blocked account agreements satisfactory to the Agent. Each Loan Party The Borrowers and Services shall instruct all Account Debtors to make all payments directly to the address established for such lock-box service. If, notwithstanding such instructions, a Loan Party either Borrower or Services receives any proceeds of Accounts, it shall receive such payments as the Agent's trustee, and shall immediately deliver such payments to the Agent in their original form duly endorsed in blank or deposit them into a Payment Account, as the Agent may direct. All collections received in any such lock-box or Payment Account or directly by a Loan Party either Borrower or Services or the Agent, and all funds in any Payment Account or other account to which such collections are deposited shall be subject to the Agent's sole controlcontrol and withdrawals by the Borrowers and Services shall not be permitted. The Agent or the Agent's designee may, at any time after the occurrence and during the continuance of an Event of Default, notify Account Debtors that the Accounts have been assigned to the Agent and of the Agent's security interest therein, and may collect them directly and charge the collection costs and expenses to the Borrower's Loan Account as a Revolving Loan. So long as an Event of Default has occurred and is continuing, each Loan Partythe Borrowers, at the Agent's request, shall execute and deliver to the Agent such documents as the Agent shall require to grant the Agent access to any post office box in which collections of Accounts are received.

Collection of Accounts; Payments. (a) Each Loan Party Within ninety (90) days of the Closing Date, the Borrowers shall establish a lock-box service and/or other blocked account for collections of Accounts (other than Accounts sold by the RPA Sellers to MRC pursuant to the RPA) at a bank Clearing Banks acceptable to the Agent and pursuant subject to Blocked Account Agreements and other documentation satisfactory to the Agent, including lock-box agreements and blocked account agreements satisfactory acceptable to the Agent. Each Loan Party The Borrowers shall instruct all Account Debtors to make all payments directly to the address established for each such lock-box service. If, notwithstanding such instructions, a Loan Party any Borrower receives any proceeds of Accounts, it shall receive such payments as the Agent's trustee, and shall immediately deliver such payments to the Agent in their original form duly endorsed in blank or deposit them into a Payment Account, as the Agent may direct. All collections received in any such lock-box or Payment Account or directly by a Loan Party any Borrower or the Agent, and all funds in any Payment Account or other account to which such collections are deposited shall be subject to the Agent's sole controlcontrol and withdrawals by any Borrower shall not be permitted. The Agent or the Agent's designee may, at any time after the occurrence of an Event of Default, notify Account Debtors that the Accounts have been assigned to the Agent and of the Agent's security interest therein, and may collect them directly and charge the collection costs and expenses to the Borrower's Loan Account as a Revolving Loan. So long as an Event of Default has occurred and is continuingexists, each Loan Party, the Borrowers at the Agent's request, shall execute and deliver to the Agent such documents as the Agent shall require to grant the Agent access to any post office box in which collections of Accounts are received.

Collection of Accounts; Payments. (a) Each Loan Party shall establish a lock-box service and/or other blocked account for collections of Accounts at a bank acceptable to the Agent and pursuant to documentation satisfactory to the Agent, including lock-box agreements and blocked account agreements satisfactory to the Agent. Each Loan Party shall instruct all Account Debtors to make all payments directly to the address established for such lock-box service. If, notwithstanding such instructions, a Loan Party receives any proceeds of Accounts, it shall receive such payments as the Agent's trustee, and shall immediately deliver such payments to the Agent in their original form duly endorsed in blank or deposit them into a Payment Account, as the Agent may direct. All collections received in any such lock-lock- box or Payment Account or directly by a Loan Party or the Agent, and all funds in any Payment Account or other account to which such collections are deposited shall be subject to the Agent's sole control. The Agent or the Agent's designee may, at any time after the occurrence of an Event of Default, notify Account Debtors that the Accounts have been assigned to the Agent and of the Agent's security interest therein, and may collect them directly and charge the collection costs and expenses to the Borrower's Loan Account as a Revolving Loan. So long as an Event of Default has occurred and is continuing, each Loan Party, at the Agent's request, shall execute and deliver to the Agent such documents as the Agent shall require to grant the Agent access to any post office box in which collections of Accounts are received.

Collection of Accounts; Payments. (a) Each Loan Party No later than thirty (30) days from the Closing Date, the Borrowers shall establish a lock-box service and/or other blocked account for collections of Accounts at a bank Clearing Banks acceptable to the Agent and pursuant subject to Blocked Account Agreements and other documentation satisfactory to the Agent, including lock-box agreements and blocked account agreements satisfactory acceptable to the Agent. Each Loan Party The Borrowers shall instruct all Account Debtors to make all payments directly to the address established for each such lock-box service. If, notwithstanding such instructions, a Loan Party any Borrower receives any proceeds of Accounts, it shall receive such payments as the Agent's trustee, and shall immediately deliver such payments to the Agent in their original form duly endorsed in blank or deposit them into a Payment Account, as the Agent may direct. All collections received in any such lock-box or Payment Account or directly by a Loan Party any Borrower or the Agent, and all funds in any Payment Account or other account to which such collections are deposited shall be subject to the Agent's sole controlcontrol and withdrawals by any Borrower shall not be permitted. The Agent or the Agent's designee may, at any time after the occurrence of an Event of Default, notify Account Debtors that the Accounts have been assigned to the Agent and of the Agent's security interest therein, and may collect them directly and charge the collection costs and expenses to the Borrower's Loan Account as a Revolving Loan. So long as an Event of Default has occurred and is continuingexists, each Loan Party, the Borrowers at the Agent's request, shall execute and deliver to the Agent such documents as the Agent shall require to grant the Agent access to any post office box in which collections of Accounts are received.

Collection of Accounts; Payments. (a) Each Loan Party The Borrower shall establish a lock-box service and/or make collection of all Accounts and other blocked account Collateral for collections of Accounts at a bank acceptable to the Agent and pursuant to documentation satisfactory to the Administrative Agent, including lock-box agreements and blocked account agreements satisfactory to the Agent. Each Loan Party shall instruct all Account Debtors to make all payments directly to the address established for such lock-box service. If, notwithstanding such instructions, a Loan Party receives any proceeds of Accounts, it shall receive such all payments as the Administrative Agent's trustee, and shall immediately deliver such all payments to the Agent in their original form duly endorsed in blank or deposit them into a Payment AccountAccount established for the account of the Borrower at a Clearing Bank acceptable to Co-Agents, as the Agent may directsubject to a Blocked Account Agreement. All collections received in any such lock-box or Payment Account or directly by a Loan Party the Borrower or the Administrative Agent, and all funds in any Payment Account or other account to which such collections are deposited shall be subject to the Administrative Agent's sole controlcontrol and withdrawals by the Borrower shall not be permitted. The Administrative Agent or the Administrative Agent's designee may, at any time after the occurrence of an Event of Default, notify Account Debtors that the Accounts have been assigned to the Administrative Agent and of the Administrative Agent's security interest therein, and may collect them directly and charge the collection costs and expenses to the Borrower's Loan Account as a Revolving Loan. So long as an Event of Default has occurred and is continuing, each Loan Partythe Borrower, at the Administrative Agent's request, shall execute and deliver to the Administrative Agent such documents as the Administrative Agent shall require to grant the Administrative Agent access to any post office box in which collections of Accounts are received.