Common use of Collections on Accounts Clause in Contracts

Collections on Accounts. (a) The Administrative Agent hereby ----------------------- authorizes the Credit Parties to collect the Accounts, provided that the -------- Administrative Agent may curtail or terminate said authority at any time after the occurrence of an Event of Default. If required by the Administrative Agent at any time after the occurrence of an Event of Default, any payments of Accounts, when collected by the Credit Parties, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the Credit Parties in a Collateral Account maintained under the sole dominion and control of the Administrative Agent, subject to withdrawal by the Administrative Agent for the account of the Lenders only as provided in Section 7.3 hereof, and (ii) until so turned over, shall be held by the Credit Parties in trust for the Administrative Agent and the Lenders, segregated from other funds of the Credit Parties.

Collections on Accounts. (a) The Administrative Agent hereby ----------------------- authorizes the Credit Parties to collect the Accounts, provided that the -------- Administrative Agent may curtail or terminate said authority at any time after the occurrence and during the continuation of an Event of Default. If required by the Administrative Agent at any time after the occurrence and during the continuation of an Event of Default, any payments of Accounts, when collected by the Credit Parties, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the Credit Parties in a Collateral Account maintained under the sole dominion and control of the Administrative Agent, subject to withdrawal by the Administrative Agent for the account of the Lenders only as provided in Section 7.3 hereofsubsection 7.3, and (ii) until so turned over, shall be held by the Credit Parties in trust for the Administrative Agent and the Lenders, segregated from other funds of the Credit Parties.

Collections on Accounts. (a) The Administrative Agent hereby authorizes ----------------------- authorizes the Credit Parties to collect the Accounts, provided that the Administrative -------- Administrative Agent may curtail or terminate said authority at any time after the occurrence and during the continuation of an Event of Default. If required by the Administrative Agent at any time after the occurrence and during the continuation of an Event of Default, any payments of Accounts, when collected by the Credit Parties, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the Credit Parties in a Collateral Account maintained under the sole dominion and control of the Administrative Agent, subject to withdrawal by the Administrative Agent for the account of the Lenders only as provided in Section 7.3 hereofsubsection 7.3, and (ii) until so turned over, shall be held by the Credit Parties in trust for the Administrative Agent and the Lenders, segregated from other funds of the Credit Parties.

Collections on Accounts. (a) The Administrative Agent hereby ----------------------- authorizes the Credit Parties to collect the Accounts, provided that the -------- Administrative Agent may curtail or terminate said authority at any time after the occurrence of an Event of Defaultoccurrence. If required by the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default, any payments of Accounts, when collected by the Credit Parties, (i) shall be forthwith (and, in any event, within two Business Days) deposited by the Credit Parties in a Collateral Account maintained under the sole dominion and control of the Administrative Agent, subject to withdrawal by the Administrative Agent for the account of the Lenders only as provided in Section 7.3 hereofsubsection 7.3, and (ii) until so turned over, shall be held by the Credit Parties in trust for the Administrative Agent and the Lenders, segregated from other funds of the Credit Parties.