Common use of Notice to Account Debtors and Contracting Parties Clause in Contracts

Notice to Account Debtors and Contracting Parties. At any time after an Event of Default occurs and is continuing, upon the request of the Secured Party at any time, the Debtor shall notify account debtors of the Accounts and parties to the Contracts that the Accounts and the Contracts have been assigned to the Secured Party and that payments in respect thereof shall be made directly to the Secured Party. The Secured Party may in its own name or in the name of others communicate with account debtors on the Accounts and parties to the Contracts to verify with them to its satisfaction the existence, amount and terms of any Accounts or Contracts.

Appears in 4 contracts

Samples: Security Agreement (Baron Energy Inc.), Loan Agreement (Natural Gas Services Group Inc), Modification Agreement (Natural Gas Services Group Inc)

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Notice to Account Debtors and Contracting Parties. At any time after an Event of Default occurs and is continuing, upon Upon the request of the Secured Party at any timetime after the occurrence and during the continuance of an Event of Default, the each Debtor shall notify account debtors of on the Accounts and parties to the Contracts that the Accounts and the Contracts have been assigned to the Secured Party and that payments in respect thereof shall be made directly to the Secured Party. The Secured Party may in its own name or in the name of others communicate with account debtors on the Accounts and parties to the Contracts to verify with them to its satisfaction the existence, amount and terms of any Accounts or Contracts.

Appears in 1 contract

Samples: Security Agreement (Iwt Tesoro Corp)

Notice to Account Debtors and Contracting Parties. At any time after an Event of Default occurs has occurred and is continuing, the Secured Party may, and upon the request of the Secured Party at any timeParty, the Debtor Borrower shall notify account debtors of the Accounts Account Debtors and parties to the Contracts that the Accounts and the Contracts have been assigned to the Secured Party and that payments in respect thereof shall be made directly to the Secured Party. The Secured Party may in its own name or in the name of others others, communicate with account debtors on the Accounts Account Debtors and parties to the Contracts to verify with them to its the Secured Party's satisfaction the existence, amount and terms of any Accounts Receivables or Contracts.

Appears in 1 contract

Samples: Pledge and Security Agreement (Smartalk Teleservices Inc)

Notice to Account Debtors and Contracting Parties. At any time after an Event of Default occurs and is continuing, upon Upon the request of the Secured Party at any timetime after the occurrence and during the continuance of an Event of Default, the Debtor Debtors shall notify account debtors of on the Accounts and parties to the Contracts that the Accounts and the Contracts have been assigned to the Secured Party and that payments in respect thereof shall be made directly to the Secured Party. The Secured Party may in its own name or in the name of others communicate with account debtors on the Accounts and parties to the Contracts to verify with them to its satisfaction the existence, amount and terms of any Accounts or Contracts.

Appears in 1 contract

Samples: Security Agreement (Edac Technologies Corp)

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Notice to Account Debtors and Contracting Parties. At any time after ------------------------------------------------- while an Event of Default occurs shall have occurred and is be continuing, the Secured Party may, and upon the request of the Secured Party at any time, the Debtor shall shall, notify account debtors of the Accounts Account Debtors and parties to the Contracts that the Accounts and the Contracts have been assigned to the Secured Party and that payments in respect thereof shall be made directly to the Secured Party. The Secured Party may in its own name or in the name of others communicate with account debtors on the Accounts Account Debtors and parties to the Contracts to verify with them to its satisfaction the existence, amount and terms of any Accounts Receivables or Contracts.

Appears in 1 contract

Samples: Security Agreement (Synbiotics Corp)

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