Verification and Notification. Lender may verify Collateral in any manner, and Debtor shall assist Lender in so doing. Upon default Lender may at any time and Debtor shall, upon request of Lender, notify the account debtors to make payment directly to Lender and Lender may enforce collection of, settle, compromise, extend or renew the indebtedness of such account debtors. Until account debtors are so notified, Debtor as agent of Lender, shall make collections on the Collateral. Lender may at any time notify the bailee of any Collateral of Lender's security interest.
Appears in 5 contracts
Samples: Unit Purchase Agreement (Argyle Security, Inc.), General Business Security Agreement (Ziegler Companies Inc), General Business Security Agreement (PMC International Inc)
Verification and Notification. Lender may verify Collateral in any reasonable manner, and Debtor shall assist Lender in so doing. Upon default Lender may at any time and Debtor shall, upon request of Lender, notify the account debtors to make payment directly to Lender and Lender may enforce collection of, settle, compromise, extend or renew the indebtedness of such account debtors. Until account debtors are so notified, Debtor Debtor, as agent of Lender, shall make collections on the Collateral. Lender may at any time notify the a bailee of any Collateral of Lender's security interest.
Appears in 1 contract
Samples: General Business Security Agreement
