Common use of Dominion of Funds Clause in Contracts

Dominion of Funds. (a) The Loan shall be on dominion of funds. Borrower shall direct all Account Debtors, and any other party liable to Borrower for any type of payment, to mail all payments due Borrower to a post office box owned by HCA at a bank acceptable to HCA (“Lockbox Bank”). The Lockbox Bank shall periodically pick up, open and process the contents of the envelopes mailed to the post office box. All payments shall be deposited into a cash collateral account owned by HCA (“CCA”); Borrower shall have no right to withdraw any funds from the CCA, all of Borrower’s funds therein belong to HCA. All other documents included in the envelopes shall be delivered to Borrower together with a manifest from the Lockbox Bank setting forth the collections received by the Lockbox Bank on such date. HCA shall deduct the funds deposited into the CCA and apply same in accordance with the terms of Section 3.2 of this Agreement. HCA and its representatives shall have an irrevocable power of attorney coupled with an interest to endorse any checks or items, in Borrower’s name, delivered or required to be delivered to the post office box. If, notwithstanding HCA’s instructions to an Account Debtor, Borrower receives payments directly from an Account Debtor, Borrower agrees not to commingle such remittances with any of its other funds or property, and will hold the funds separate and apart from its own funds or property, in trust for HCA, and immediately deliver same to the post office box in the form received. HCA shall process the envelope and its contents as if same had been mailed directly to the post office box by the Account Debtor. Any Account Debtors that remit payments to Borrower electronically shall be instructed to remit funds to the CCA. If Borrower receives any funds into its operating account via electronic transfer, it will immediately wire those funds to the CCA.

Dominion of Funds. (a) The Loan shall be on dominion of funds. Borrower shall direct all Account Debtors, and any other party liable to Borrower for any type of payment, Debtors to mail all payments due Borrower to a post office box owned by HCA Crestmark at a bank acceptable to HCA Crestmark (“"Lockbox Bank”"). The Lockbox Bank shall periodically pick up, open and process the contents of the envelopes mailed to the post office box. All payments shall be deposited into a cash collateral account owned by HCA Crestmark (“"CCA”"); Borrower shall have no right to withdraw any funds from the CCA, all of Borrower’s 's funds therein belong to HCACrestmark. All other documents included in the envelopes shall be delivered to Borrower together with a manifest from the Lockbox Bank setting forth the collections received by the Lockbox Bank on such dateBorrower. HCA Crestmark shall deduct the funds deposited into the CCA and apply the same toward payment of the Indebtedness, whether or not then due, in accordance with the terms such order of Section 3.2 of this Agreementapplication as Crestmark shall determine. HCA Borrower grants Crestmark and its representatives shall have an irrevocable power of attorney attorney, coupled with an interest interest, to endorse any checks or items, in Borrower’s 's name, delivered or required to be delivered to the post office box. If, notwithstanding HCA’s Crestmark's instructions to an Account Debtor, Borrower receives payments directly from an Account Debtor, Borrower agrees not to commingle such remittances with any of its other funds or property, and will hold the funds separate and apart from its own funds or property, in trust for HCACrestmark, and immediately deliver same to the post office box in the form received. HCA Crestmark shall process the envelope and its contents as if same had been mailed directly to the post office box by the Account Debtor. Any Account Debtors that remit payments to Borrower electronically shall be instructed to remit funds to the CCA. If Borrower receives any funds into its operating account via electronic transfer, it will immediately wire those funds to the CCA.

Dominion of Funds. (a) The Loan shall be is on dominion of funds. Borrower shall direct all Account Debtors, and any other party liable to Borrower for any type of payment, Debtors to mail all payments due Borrower to a post office box owned by HCA Crestmark at a bank acceptable to HCA Crestmark (“the "Lockbox Bank”"). The Lockbox Bank shall periodically pick up, open and process the contents of the envelopes mailed to the post office box. All payments shall be deposited into a cash collateral account Cash Collateral Account owned by HCA Crestmark (“CCA”the "Cash Collateral Account"); Borrower shall have no right to withdraw any funds from the CCACash Collateral Account, all of Borrower’s 's funds therein belong to HCACrestmark. All other documents included in the envelopes shall be delivered to Borrower together with a manifest from the Lockbox Bank setting forth the collections received by the Lockbox Bank on such dateBorrower. HCA Crestmark shall deduct the funds deposited into the CCA Cash Collateral Account and apply the same toward payment of the Indebtedness, whether or not then due, in accordance with the terms such order of Section 3.2 of this Agreementapplication as Crestmark shall determine. HCA Borrower grants Crestmark and its representatives shall have an irrevocable power of attorney attorney, coupled with an interest interest, to endorse any checks or items, in Borrower’s 's name, delivered or required to be delivered to the post office box. If, notwithstanding HCA’s Crestmark's instructions to an Account Debtor, Borrower receives payments directly from an Account Debtor, Borrower agrees not to commingle such remittances with any of its other funds or property, and will hold the funds separate and apart from its own funds or property, in trust for HCACrestmark, and immediately deliver same to the post office box in the form received. HCA Crestmark shall process the envelope and its contents as if same had been mailed directly to the post office box by the Account Debtor. Any Account Debtors that remit payments to Borrower electronically shall be instructed to remit funds to the CCACash Collateral Account. If Borrower receives any funds into its operating account via electronic transfer, it will immediately wire those funds to the CCACash Collateral Account.