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Common use of Collection Upon Default Clause in Contracts

Collection Upon Default. Upon any Default, the Debtor agrees to deliver to the Secured Party all checks, drafts, notes and other instruments representing its accounts receivables upon request therefor by the Secured Party.

Appears in 3 contracts

Sources: Secured Convertible Promissory Note Purchase Agreement (Neon Systems Inc), Secured Convertible Promissory Note Purchase Agreement (Neon Systems Inc), Secured Convertible Promissory Note Purchase Agreement (Neon Systems Inc)

Related Clauses

  • Action Upon Default
  • Termination Upon Default
  • Succession upon Default
  • Upon Default
  • Realization Upon Defaulted Loans

Parent Clauses

  • Assignment of Rents, Issues and Profits
  • Miscellaneous
  • Beneficiary’s Powers
  • Patriot Act Compliance
  • COUNTERPARTS

Sub-Clauses

  • Events of Default
  • Creation of Security Interest
  • Acceleration Upon Default, Additional Remedies
  • Warranties, Representations and Covenants of Trustor
  • Warranties, Representations and Covenants
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