Common use of Notification to Account Debtors Clause in Contracts

Notification to Account Debtors. The Agent shall have the right after the occurrence of an Event of Default to notify any of the Borrower’s Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hastings Entertainment Inc), Loan and Security Agreement (Hastings Entertainment Inc)

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Notification to Account Debtors. The Agent shall have the right after at any time following the occurrence of a Cash Management Condition (and an Event of Default has occurred) to notify any of the Borrower’s Borrowers' Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Lechters Inc), Loan and Security Agreement (Lechters Inc)

Notification to Account Debtors. The Agent shall have the right (after the occurrence of an Event of Default has occurred), to notify any of the Borrower’s Borrowers' Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Phar Mor Inc), Phar Mor Inc

Notification to Account Debtors. The Agent shall have the right at any time (after the occurrence of an Event of Default has occurred and is continuing) to notify any of the Borrower’s 's Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.. /October 28, 1997/ 46

Appears in 1 contract

Samples: Loan and Security Agreement (CSS Trade Names Inc)

Notification to Account Debtors. The Agent shall have the right at any time (after the occurrence of an Event of Default has occurred) to notify any of the Borrower’s 's Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Factory Card Outlet Corp)

Notification to Account Debtors. The Agent shall have the right after (upon the occurrence and during the continuance of an Event of Default Default) to notify any of the Borrower’s Borrowers' Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Drugmax Inc)

Notification to Account Debtors. The Agent shall have the right after the occurrence of at any time (whether or not an Event of Default has occurred) to notify any of the Borrower’s 's Account Debtors Debtors, credit card processors, and other Persons purchasing Accounts to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Sun Television & Appliances Inc)

Notification to Account Debtors. The Agent shall have the right after the occurrence of (whether or not an Event of Default has occurred) to notify any of the Borrower’s Borrowers' Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

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Notification to Account Debtors. The Agent shall have the right at any time after the occurrence occurrence, and during the continuance, of an Event of Default Default, to notify any of the Borrower’s 's Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Aeropostale Inc)

Notification to Account Debtors. The Agent shall have the right at any time after the occurrence occurrence, and during the continuance, of an Event of Default Default, to notify any of the Borrowera Loan Party’s Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 1 contract

Samples: Security and Guaranty Agreement (Aeropostale Inc)

Notification to Account Debtors. The Agent shall have the right after the occurrence of an Event of Default at any time to notify any of the Borrower’s Borrowers' and Guarantors' Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Lechters Inc)

Notification to Account Debtors. The Agent shall have the right at any time after the occurrence of an Event of Default has occurred to notify any of the Borrower’s Borrowers' Account Debtors to make payment directly to the Agent and to collect all amounts due on account of the Collateral.the

Appears in 1 contract

Samples: Sports Authority Inc /De/

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