Specific Remedies. (a) The Secured Party hereby authorizes each Grantor to collect its Accounts, under the Secured Party’s direction and control; provided that, the Secured Party may curtail or terminate such authority at any time after the occurrence and during the continuance of an Event of Default.
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Samples: Collateral Agreement (XZERES Corp.), Collateral Agreement (Ucn Inc), Collateral Agreement (Afp Imaging Corp)
Specific Remedies. (a) The Secured Party hereby authorizes each Grantor to collect its Accounts; provided, under the Secured Party’s direction and control; provided that, the Secured Party may curtail or terminate such authority at any time after (i) the payment in full of the Senior Obligations and termination of all lending commitments under the Loan Agreement, and (ii) the occurrence and during the continuance of an Event of Default.
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Samples: Subordinated Collateral Agreement (General Environmental Management, Inc)
Specific Remedies. (a) The Secured Party hereby authorizes each Grantor to collect its Accounts, under the Secured Party’s direction and control, and subject to the requirement that all Royalties be directed to be paid to the lockbox under the Lockbox Agreement; provided that, the Secured Party may curtail or terminate such the Grantors’ authority at any time after the occurrence and during the continuance of an Event of Default.
Appears in 1 contract
Samples: Collateral Agreement (Clearpoint Business Resources, Inc)
Specific Remedies. (a) The Secured Party hereby authorizes each Grantor to collect its Accounts, under the Secured Party’s direction and control; provided thatprovided, that the Secured Party may curtail or terminate such authority at any time after the occurrence and during the continuance of an Event of Default.
Appears in 1 contract
Specific Remedies. (a) The Secured Party hereby authorizes each Grantor to collect its Accounts, under the Secured Party’s 's direction and control; provided that, the Secured Party may curtail or terminate such authority at any time after the occurrence and during the continuance of an Event of Default.
Appears in 1 contract
Specific Remedies. (a) The Secured Party hereby authorizes each Grantor to collect its Accounts; provided, under the Secured Party’s direction and control; provided that, the Secured Party may curtail or terminate such authority at any time after the occurrence and during the continuance of an Event of Default.
Appears in 1 contract
Samples: Collateral Agreement (General Environmental Management, Inc)