Notification of Account Debtors. Upon the occurrence and during the continuance of an Event of Default, Agent may or, at the request of the Required Lenders, shall, at any time and from time to time, notify any or all Account Debtors (other than for any Account that is not Collateral) of the Security Interest and may direct such Account Debtors to make all payments on receivables directly to Agent.
Appears in 3 contracts
Samples: And Security Agreement (Air Methods Corp), And Security Agreement (Air Methods Corp), And Security Agreement (Air Methods Corp)
Notification of Account Debtors. Upon The Agent may, at any time from and after the occurrence and during the continuance of an Event of Default, Agent may or, at upon notice to the request of the Required Lenders, shall, at any time and from time to timeBorrower, notify any or all Account Debtors (other than for any Account that is not Collateral) of the Security Interest and may direct such exercise the rights of Borrower and each Loan Party with respect to the obligations of the Account Debtors to make all payments on receivables payment or otherwise render performance directly to the Agent.
Appears in 3 contracts
Samples: Loan and Security Agreement (1295728 Alberta ULC), Loan and Security Agreement (WireCo WorldGroup Poland Holdings Sp. z.o.o.), Loan and Security Agreement (1295728 Alberta ULC)
Notification of Account Debtors. Upon the occurrence and during the continuance of an Event of Default, Agent may or, at the request of the Required Lenders, shallmay, at any time and from time to time, notify any or all Account Debtors (other than for any Account that is not Collateral) of the Security Interest and may direct such Account Debtors to make all payments on receivables directly to Agent.
Appears in 1 contract
Samples: Credit, Term Loan and Security Agreement (Air Methods Corp)
