DEPOSIT OF PROCEEDS OF COLLATERAL. All proceeds of Collateral shall be deposited by Borrowers into either (i) a lockbox account, dominion account or such other "blocked account" ("Blocked Accounts"), or (ii) depository accounts ("Depository Accounts"), established at the Agent or other depository institution reasonably acceptable to Agent for the deposit of such proceeds. All funds deposited in such Blocked Accounts shall immediately become the property of Agent. Alternatively, Agent may establish Depository Accounts in the name of Agent at a bank or banks for the deposit of such funds and Borrowers shall deposit all proceeds of Collateral or cause same to be deposited, in kind, in such Depository Accounts of Agent in lieu of depositing same to the Blocked Accounts.
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Samples: And Security Agreement (Air Methods Corp), And Security Agreement (Air Methods Corp), Credit, Term Loan and Security Agreement (Air Methods Corp)
DEPOSIT OF PROCEEDS OF COLLATERAL. All proceeds of Collateral shall be deposited by Borrowers into either (i) a lockbox account, dominion account or such other "“blocked account" ” ("“Blocked Accounts"”), or (ii) depository accounts ("“Depository Accounts"”), established at the Agent or other depository institution reasonably acceptable to Agent for the deposit of such proceeds. All funds deposited in such Blocked Accounts shall immediately become the property of Agent. Alternatively, Agent may establish Depository Accounts in the name of Agent at a bank or banks for the deposit of such funds and Borrowers shall deposit all proceeds of Collateral or cause same to be deposited, in kind, in such Depository Accounts of Agent in lieu of depositing same to the Blocked Accounts.
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