Common use of Notification of Assignment of Receivables Clause in Contracts

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Default, Lender shall have the right to send notice of the assignment of, and Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's Account and added to the Obligations. "(f)

Appears in 1 contract

Samples: Credit, Term Loan And Security Agreement (Measurement Specialties Inc)

AutoNDA by SimpleDocs

Notification of Assignment of Receivables. At any time following after the occurrence of an Event of Default or a Incipient Event of Default, Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection All costs, fees and expenses, including, but not limited to, including stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's Account the Borrowers' account and added to the Obligations. "(f).

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. The Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's the Loan Account and added to the Obligations. "(f).

Appears in 1 contract

Samples: And (Blonder Tongue Laboratories Inc)

Notification of Assignment of Receivables. At any time following after the occurrence of an Event of Default or a Incipient Event of Default, Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection All costs, fees and expenses, including, but not limited to, including stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's Account account and added to the Obligations. "(f).

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a an Incipient Event of Default, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery Stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's Account account and added to the Obligations. "(f).

Appears in 1 contract

Samples: Credit Agreement (Cold Metal Products Inc)

AutoNDA by SimpleDocs

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Defaulthereunder, the Lender shall have the right to send notice of the assignment of, and the Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, the Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, including but not limited to, to stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Borrower's Account account and added to the Obligations. "(f).

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Advanced Lighting Technologies Inc)

Notification of Assignment of Receivables. At any time following the occurrence of an Event of Default or a Defaulttime, Lender shall have the right to send notice of the assignment of, and Lender's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. ThereafterAt any time after the occurrence of any Event of Default, Lender shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Lender's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, applicable secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrower's Account Borrower and added to the Obligations. "(f).

Appears in 1 contract

Samples: Term Loan and Security Agreement (Harolds Stores Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.