Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties for application to the satisfaction of the Obligations.
Appears in 4 contracts
Samples: Security Agreement (HII Technologies, Inc.), Security Agreement (Telemynd, Inc.), Security Agreement (Salon Media Group Inc)
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, each Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties for application to the satisfaction of the Obligations.
Appears in 2 contracts
Samples: Security Agreement (Bio Solutions Manufacturing, Inc.), Intellectual Property Security Agreement (Bio Solutions Manufacturing, Inc.)
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes or otherwise, or of any check, draft, note, trade acceptance acceptance, or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties Parties, and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties for application to the satisfaction of the Obligations.
Appears in 2 contracts
Samples: Security Agreement (Eastside Distilling, Inc.), Registration Rights Agreement (Eastside Distilling, Inc.)
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, the Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes Promissory Note, or otherwise, or of any check, draft, notedebenture, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties Party for application to the satisfaction of the ObligationsObligation.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Tactical Air Defense Services, Inc.), Security Agreement (Tactical Air Defense Services, Inc.)
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, the Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes Loan Agreement, the Note, or otherwise, or of any check, draft, notedebenture, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties for application to the satisfaction of the Obligations.
Appears in 2 contracts
Samples: Security Agreement (Goldspring Inc), Security Agreement (Goldspring Inc)
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes or otherwise, or of any check, draft, noteNote, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties Party for application to the satisfaction of the Obligations.
Appears in 2 contracts
Samples: Security Agreement (Driven Deliveries, Inc.), Security Agreement (Driven Deliveries, Inc.)
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, the Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes Transaction Agreements or otherwise, or of any check, draft, notedebenture, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties Purchaser's Agent for application to the satisfaction of the Obligations.
Appears in 1 contract
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes Debentures or otherwise, or of any check, draft, noteDebenture, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties Party for application to the satisfaction of the Obligations.
Appears in 1 contract
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, the Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes Loan Agreement, the Note or otherwise, or of any check, draft, notedebenture, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties for application to the satisfaction of the Obligations.
Appears in 1 contract
Samples: Security Agreement (Goldspring Inc)
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties Party for application to the satisfaction of the Obligations.
Appears in 1 contract
Duty To Hold In Trust. Upon the occurrence of any Event of Default and at any time thereafter, the Obligor shall, upon receipt by it of any revenue, income or other sums subject to the Security Interest, whether payable pursuant to the Notes Letter Agreement, the Note, or otherwise, or of any check, draft, notedebenture, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties Party for application to the satisfaction of the Obligations.
Appears in 1 contract
