Common use of Lock Box; Collateral Account Clause in Contracts

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence of an Event of Default (as defined in Section 7 of this Security Agreement), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”). Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, and cash payments received in the Lock Box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any time, apply finally collected funds on deposit in the Collateral Account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence of an Event of Default (as defined in Section 7 of this Security Agreement), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”). Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, and cash payments received in the Lock Box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any time, apply finally collected funds on deposit in the Collateral Account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence and during the continuance of an Event of Default (as defined in Section 7 of this Security Agreement), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”). Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, and cash payments received in the Lock Box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any time, apply finally collected funds on deposit in the Collateral Account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence and during the continuance of an Event of Default (as defined in Section 7 of this Security Agreement)Default, Debtor will direct each of its account debtors the obligor on any Collateral to make payments due under the relevant account or chattel paper Collateral directly to a special lock box lockbox to be under the control of Secured Party (Party. Prior to such a request by Secured Party, Debtor will maintain the “Lock Box”)lockbox arrangements required under the terms of the Loan Agreement. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxlockbox, if any, established under this Section. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any ObligationObligations. At its option, Secured Party shall, at any time, shall either (i) apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or (ii) permit Debtor to withdraw all or any part of the balancebalance on deposit in said collateral account. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxcollateral account, if any, established under this Section or, if no collateral account is established under this Agreement, into the lockbox established under the Loan Agreement, all payments on accounts and chattel paper Collateral received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper Collateral received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before or after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit in said collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after Pursuant to the occurrence terms of an Event paragraphs B and C of Default (as defined in Section 7 V of this Security the Financing Agreement), Debtor will shall direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the sole control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into in a special collateral account to be established and maintained with Secured Party (or other financial institution selected by the “Collateral Account”) Secured Party all checks, drafts, drafts and cash payments received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit in said collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxin said collateral account, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before or after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor Borrower will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”)Party. Debtor Borrower hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor Borrower to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for balance on deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by it. All such payments payment shall be delivered to Secured Party in the form received (except for Debtor’s Borrower's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor Borrower shall be held in trust by Debtor Borrower for and as the property of Secured Party and shall not be commingled with any funds or property of DebtorBorrower.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before or after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligationthe Obligations. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor debtor to withdraw all or any part of the balancebalance on deposit in said collateral account. If a Lock Box collateral account is so established, Debtor agrees that it Debtor will promptly deliver to Secured Party, for deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by itDebtor. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence and during the continuance of an Event of Default (as defined in Section 7 of this Security Agreement), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”). Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, and cash payments received in the Lock Box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any time, shall promptly apply finally collected funds on deposit in the Collateral Account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor. Once an Event of Default has been cured, Debtor will regain control over the Lock Box.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before or after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit in said collateral account. If a Lock Box collateral account is so established, Debtor Xxxxxx agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s Xxxxxx's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor Xxxxxx for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence of an Event of Default (as defined in Section 7 of this Security Agreement)time, Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the exclusive control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxlock box. All deposits in the Collateral Account shall collateral account constitute proceeds of Collateral and shall do not constitute payment of any Obligation. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account collateral account to the payment of the Obligations in such any order of application as Secured Party may determinewishes, or permit Debtor to withdraw all or any part of the balancebalance on deposit in the collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxcollateral account, all payments on accounts and chattel paper received by itDebtor. All such payments shall be delivered to Secured Party in the form received (received, except for Debtor’s 's endorsement where necessary). Until so depositeddeposited in the collateral account, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence of an Event of Default (as defined in Section 7 of this Security Agreement), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”) as contemplated by the Lockbox Agreement executed in connection with the Credit Agreement. At any time after the occurrence of any Default (as defined in the Credit Agreement). , Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, and cash payments received in the Lock Box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any timeits option, either apply finally collected funds on deposit in the Collateral Account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before or after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be in the name and under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit into said collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence and during the continuance of an Event of Default (as defined in Section 7 of this Security Agreement), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”). Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, and cash payments received in the Lock Box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any time, apply finally collected funds on deposit in the Collateral Account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence of an Event of Default (as defined in Section 7 of this Security Agreement)Default, Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box lockbox to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxsuch lockbox. All deposits in the Collateral Account such collateral account shall constitute proceeds of Collateral and shall not constitute payment of any ObligationObligations. At its option, Secured Party shall, may at any time, apply finally collected funds on deposit in the Collateral Account such collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit in such collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, such collateral account all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before or after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box lockbox to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxsuch lockbox. All deposits in the Collateral Account such collateral account shall constitute proceeds of Collateral and shall not constitute payment of any ObligationObligations. At its option, Secured Party shall, may at any time, apply finally collected funds on deposit in the Collateral Account such collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit in such collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, such collateral account all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence of an Event of Default (as defined in Section 7 of this Security Agreement)Default, Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box lockbox to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxsaid lockbox. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any ObligationObligations. At its option, Secured Party shall, may at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit in said collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, said collateral account all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before or after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxsaid lock box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, determine or permit Debtor to withdraw all or any part party of the balancebalance on deposit in said collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence Effective Date and during the continuance of an Event of Default (as defined in Section 7 of this Security the Funding Agreement), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”). Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with by Secured Party (the “Collateral Account”) all checks, drafts, and cash payments received in the Lock Box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any time, apply finally collected funds on deposit in the Collateral Account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before or after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor Borrower will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”)Party. Debtor Borrower hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor Borrower to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for balance on deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by it. All such payments payment shall be delivered to Secured Party in the form received (except for DebtorBorrower’s endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor Borrower shall be held in trust by Debtor Borrower for and as the property of Secured Party and shall not be commingled with any funds or property of DebtorBorrower.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence of an Event of Default (as defined in Section 7 of this Security Agreement)Default, Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with or by Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, may at any timetime after an Event of Default, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit in said collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence and during the continuance of an Event of Default (as defined in Section 7 of this Security Agreement)Default, Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box lockbox to be under the control of Secured Party (the “Lock Box”)Party. Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments payments, received in the Lock Boxsuch lockbox. All deposits in the Collateral Account such collateral account shall constitute proceeds of Collateral and shall not constitute payment of any ObligationObligations. At its option, Secured Party shall, may at any time, apply finally collected funds on deposit in the Collateral Account such collateral account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balancebalance on deposit in such collateral account. If a Lock Box collateral account is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, such collateral account all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.

Lock Box; Collateral Account. If Secured Party so requests at any time (whether before of after the occurrence of an Event of Default (as defined in Section 7 of this Security AgreementDefault), Debtor Borrower will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “Lock Box”)Party. Debtor Borrower hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “Collateral Account”) all checks, drafts, drafts and cash payments received in the Lock Boxsaid lock box. All deposits in the Collateral Account said collateral account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shallmay, at any time, apply finally collected funds on deposit in the Collateral Account said collateral account to the payment of the Obligations in such order of application as Secured Party may determine, determine or permit Debtor Borrower to withdraw all or any part of the balancebalance on deposit in said collateral account. If a Lock Box collateral account is so established, Debtor Borrower agrees that it will promptly deliver to Secured Party, for deposit into the Lock Boxsaid collateral account, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s Borrower's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor Borrower shall be held in trust by Debtor Borrower for and as the property of Secured Party Party, and shall not be commingled with any funds or property of DebtorBorrower.

Lock Box; Collateral Account. If Secured Party so requests at any time after the occurrence of an Event of Default (as defined in Section 7 of this Security Agreement), Debtor will direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lock box to be under the control of Secured Party (the “"Lock Box”"). Debtor hereby authorizes and directs Secured Party to deposit into a special collateral account to be established and maintained with Secured Party (the “"Collateral Account”") all checks, drafts, and cash payments received in the Lock Box. All deposits in the Collateral Account shall constitute proceeds of Collateral and shall not constitute payment of any Obligation. At its option, Secured Party shall, at any time, apply finally collected funds on deposit in the Collateral Account to the payment of the Obligations in such order of application as Secured Party may determine, or permit Debtor to withdraw all or any part of the balance. If a Lock Box is so established, Debtor agrees that it will promptly deliver to Secured Party, for deposit into the Lock Box, all payments on accounts and chattel paper received by it. All such payments shall be delivered to Secured Party in the form received (except for Debtor’s 's endorsement where necessary). Until so deposited, all such payments on accounts and chattel paper received by Debtor shall be held in trust by Debtor for and as the property of Secured Party and shall not be commingled with any funds or property of Debtor.