Collection of Funds. Following the occurrence and during the continuance of a Cash Dominion Event, each U.S. Loan Party hereby irrevocably authorizes and empowers the Collateral Agent and its respective officers, employees and authorized agents to endorse and sign its name on all checks, drafts, money orders or other media of payment delivered pursuant to this Section, and such endorsements or assignments shall, for all purposes, be deemed to have been made by the relevant U.S. Loan Party prior to any endorsement or assignment thereof by the Collateral Agent. Following the occurrence and during the continuance of a Cash Dominion Event, the Collateral Agent may use any convenient or customary means for the purpose of collecting such checks, drafts, money orders or other media of payment.
Appears in 4 contracts
Samples: Security Agreement (Masonite International Corp), Security Agreement (Masonite International Corp), Credit Agreement (Masonite International Corp)
