Notice to Account Debtors. Upon the occurrence and during the continuance of (a) any Event of Default under Section 7.3, or (b) upon any other Event of Default, provided Lxxxxx has declared all Obligations immediately due and payable, Lender may notify any or all account debtors of the existence of Lender’s security interest in the Collateral and require such account debtors to pay or remit all sums due or to become due directly to Lender or its nominee.
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Samples: Revenue Loan and Security Agreement (Pineapple Energy Inc.), Revenue Loan and Security Agreement (INVO Bioscience, Inc.), Revenue Loan and Security Agreement (Isun, Inc.)
Notice to Account Debtors. Upon the occurrence and during the continuance of (ai) any Event of Default under Section 7.3, or (bii) upon any other Event of Default, provided Lxxxxx Lender has declared all Obligations immediately due and payable, Lender may notify any or all account debtors of the existence of Lender’s security interest in the Collateral and require such account debtors to pay or remit all sums due or to become due directly to Lender or its nominee.
Appears in 2 contracts
Samples: Revenue Loan and Security Agreement (Sidus Space Inc.), Revenue Loan and Security Agreement (Splash Beverage Group, Inc.)
Notice to Account Debtors. Upon the occurrence and during the continuance of (a) any Event of Default under Section 7.3, or (b) upon any other Event of Default, Default (provided Lxxxxx Lender has declared all Obligations immediately due and payablepayable following such Event of Default), Lender may notify any or all account debtors of the existence of Lender’s security interest in the Collateral and require such account debtors to pay or remit all sums due or to become due directly to Lender or its nominee.
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Notice to Account Debtors. Upon the occurrence and during the continuance of (ai) any Event of Default under Section 7.3, or (bii) upon any other Event of Default, provided Lxxxxx Lender has declared all Restated Obligations immediately due and payable, Lender may notify any or all account debtors of the existence of Lender’s security interest in the Collateral and require such account debtors to pay or remit all sums due or to become due directly to Lender or its nominee.
Appears in 1 contract
Samples: Loan and Security Agreement (Red Cat Holdings, Inc.)
Notice to Account Debtors. Upon the occurrence and during the continuance of (ai) any Event of Default under Section 7.3, or (bii) upon the occurrence and during the continuance of any other Event of Default, provided Lxxxxx the Lender has declared all Obligations immediately due and payable, Lender may notify any or all account debtors of the existence of Lender’s security interest in the Collateral and require such account debtors to pay or remit all sums due or to become due directly to Lender or its nominee.
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