Common use of Disbursing Agent Clause in Contracts

Disbursing Agent. The Borrowers hereby appoint PHOTOMEDEX, INC., as Lead Borrower, as the “Disbursing Agent” to the Borrowers as it is in the best interest and convenience of the Borrowers that all Advances made by Lender pursuant to this Agreement be made only to the Disbursing Agent rather than to each of the Borrowers individually. Accordingly, the Disbursing Agent shall be the sole entity entitled to receive the funds advanced by Lender under this Agreement and the Disbursing Agent shall make disbursements to the Borrowers as reasonably requested by each Borrower to conduct its respective business. Moreover, the Disbursing Agent and each Borrower agree that the Collection Amount shall be collected from the Collection Account. All of the proceeds received by Lender will be credited by Lender to the Disbursing Agent’s account (or such other account as designated by the Disbursing Agent) and the Disbursing Agent shall have the sole authority to further credit any such collections to each Borrower, individually. Each Borrower hereby irrevocably waives any claim it may have against Lender and hereby indemnifies and holds Lender harmless from and against all damages, losses, claims, demands, liabilities, obligations, actions and causes of action whatsoever which such Borrower may have against Lender which may arise as a result of Advances being made by Lender solely to the Disbursing Agent and/or collections being credited by Lender solely the Disbursing Agent’s account with Lender.

Disbursing Agent. The Borrowers hereby appoint PHOTOMEDEXNEW WEST TECHNOLOGIES, INC., as Lead Borrower, LLC as the “Disbursing Agent” to the Borrowers as it is in the best interest and convenience of the Borrowers that all Advances Loans and advances made by Lender pursuant to this Agreement be made only to the Disbursing Agent rather than to each of the Borrowers individually. Accordingly, the Disbursing Agent shall be the sole entity entitled to receive the funds advanced by Lender under this Agreement and the Disbursing Agent shall make disbursements to the Borrowers as reasonably requested by each Borrower to conduct its respective business. Moreover, the Disbursing Agent and each Borrower agree that agrees and authorizes Disbursing Agent and Lender to receive all collections and other proceeds into the Collection Amount shall be collected from the Collection Accountlockbox or other account assigned to and/or controlled by Lender in accordance with Section 2.4 of this Agreement. All of the proceeds received by Lender into the lockbox will be credited by Lender to the Disbursing Agent’s account (or such other account as designated by the Disbursing Agent) and the Disbursing Agent shall have the sole authority to further credit any such collections to each Borrower, individually. Each Borrower hereby irrevocably waives any claim it may have against Lender and hereby indemnifies and holds Lender harmless from and against all damages, losses, claims, demands, liabilities, obligations, actions and causes of action whatsoever which such Borrower may have against Lender which may arise as a result of Advances advances being made by Lender solely to the Disbursing Agent and/or collections being credited by Lender solely the Disbursing Agent’s account with Lender.

Disbursing Agent. The Borrowers hereby appoint PHOTOMEDEX, INC., as Lead Borrower, VAPOR CORP. as the “Disbursing Agent” to the Borrowers as it is in the best interest and convenience of the Borrowers that all Advances loans made by Lender EGC pursuant to this Agreement Note be made only to the Disbursing Agent rather than to each of the Borrowers individually. Accordingly, the Disbursing Agent shall be the sole entity entitled to receive the funds advanced by Lender EGC under this Agreement Note and the Disbursing Agent shall make disbursements to the Borrowers as reasonably requested by each Borrower to conduct its respective business. Moreover, the Disbursing Agent and each Borrower agree that the Collection Amount Obligations shall be collected from the Collection Blocked Account. All of the proceeds received by Lender EGC will be credited by Lender EGC to the Disbursing Agent’s account (or such other account as designated by the Disbursing Agent) and the Disbursing Agent shall have the sole authority to further credit any such collections to each Borrower, individually. Each Borrower hereby irrevocably waives any claim it may have against Lender EGC and hereby indemnifies and holds Lender EGC harmless from and against all damages, losses, claims, demands, liabilities, obligations, actions and causes of action whatsoever which such Borrower may have against Lender EGC which may arise as a result of Advances loans being made by Lender EGC solely to the Disbursing Agent and/or collections being credited by Lender EGC solely to the Disbursing Agent’s account with LenderEGC.

Disbursing Agent. The Borrowers hereby appoint PHOTOMEDEX, INC., as Lead Borrower, VAPOR CORP. as the “Disbursing Agent” to the Borrowers as it is in the best interest and convenience of the Borrowers that all Advances made by Lender pursuant to this Agreement be made only to the Disbursing Agent rather than to each of the Borrowers individually. Accordingly, the Disbursing Agent shall be the sole entity entitled to receive the funds advanced by Lender under this Agreement and the Disbursing Agent shall make disbursements to the Borrowers as reasonably requested by each Borrower to conduct its respective business. Moreover, the Disbursing Agent and each Borrower agree that the Collection Amount shall be collected from the Collection Account. All of the proceeds received by Lender will be credited by Lender to the Disbursing Agent’s account (or such other account as designated by the Disbursing Agent) and the Disbursing Agent shall have the sole authority to further credit any such collections to each Borrower, individually. Each Borrower hereby irrevocably waives any claim it may have against Lender and hereby indemnifies and holds Lender harmless from and against all damages, losses, claims, demands, liabilities, obligations, actions and causes of action whatsoever which such Borrower may have against Lender which may arise as a result of Advances being made by Lender solely to the Disbursing Agent and/or collections being credited by Lender solely to the Disbursing Agent’s account with Lender.