Common use of Procedures Without Lockbox Clause in Contracts

Procedures Without Lockbox. In the event that Company elects to forego the procedures established in Sections 1.3 and 1.4, ROAII shall instruct the Collecting Bank to transfer automatically all amounts constituting good funds in the account or accounts of ROAII established for the collection of Governmental Receivables and Non-Governmental Receivables to Company's Main Account at _____________ __________, ____________________________, Account ______________ (the "Main Account") pursuant to a standing order in a form acceptable to Company's legal counsel. ROAII shall have no right or interest in Company's Main Account and such account shall be in the name of and under the control of Company. ROAII shall not, so long as any purchased account remains unpaid, change or cancel such standing order at any time, or, without the prior written consent of Company, change the instructions to each Account Debtor on each Governmental Receivable and Non-Governmental Receivable to make its payments to such account. Any such action shall be considered a breach of this Agreement for which Company shall be entitled to all remedies at law and in equity, including obtaining an injunction.

Procedures Without Lockbox. In the event that Company elects to forego the procedures established in Sections 1.3 and 1.4, ROAII GCOA shall instruct the Collecting Bank to transfer automatically all amounts constituting good funds in the account or accounts of ROAII GCOA established for the collection of Governmental Receivables and Non-Governmental Receivables to Company's Main Account at _____________ __________, ____________________________, Account ______________ (the "Main Account") pursuant to a standing order in a form acceptable to Company's legal counsel. ROAII GCOA shall have no right or interest in Company's Main Account and such account shall be in the name of and under the control of Company. ROAII GCOA shall not, so long as any purchased account remains unpaid, change or cancel such standing order at any time, or, without the prior written consent of Company, change the instructions to each Account Debtor on each Governmental Receivable and Non-Governmental Receivable to make its payments to such account. Any such action shall be considered a breach of this Agreement for which Company shall be entitled to all remedies at law and in equity, including obtaining an injunction.

Procedures Without Lockbox. In the event that Company elects to forego the procedures established in Sections 1.3 and 1.4, ROAII VERO II shall instruct the Collecting Bank to transfer automatically all amounts constituting good funds in the account or accounts of ROAII VERO II established for the collection of Governmental Receivables and Non-Governmental Receivables to Company's Main Account at _____________ __________, ____________________________, Account ______________ (the "Main Account") pursuant to a standing order in a form acceptable to Company's legal counsel. ROAII VERO II shall have no right or interest in Company's Main Account and such account shall be in the name of and under the control of Company. ROAII VERO II shall not, so long as any purchased account remains unpaid, change or cancel such standing order at any time, or, without the prior written consent of Company, change the instructions to each Account Debtor on each Governmental Receivable and Non-Governmental Receivable to make its payments to such account. Any such action shall be considered a breach of this Agreement for which Company shall be entitled to all remedies at law and in equity, including obtaining an injunction.

Procedures Without Lockbox. In the event that Company elects to forego the procedures established in Sections 1.3 and 1.4, ROAII Princeton II shall instruct the Collecting Bank to transfer automatically all amounts constituting good funds in the account or accounts of ROAII Princeton II established for the collection of Governmental Receivables and Non-Governmental Receivables to Company's Main Account at _____________ __________, ____________________________, Account ______________ (the "Main Account") pursuant to a standing order in a form acceptable to Company's legal counsel. ROAII Princeton II shall have no right or interest in Company's Main Account and such account shall be in the name of and under the control of Company. ROAII Princeton II shall not, so long as any purchased account remains unpaid, change or cancel such standing order at any time, or, without the prior written consent of Company, change the instructions to each Account Debtor on each Governmental Receivable and Non-Governmental Receivable to make its payments to such account. Any such action shall be considered a breach of this Agreement for which Company shall be entitled to all remedies at law and in equity, including obtaining an injunction.