Common use of Account Debtors Clause in Contracts

Account Debtors. Any payment or settlement of Non-Tangible --------------- Collateral made by an Account Debtor will be, to the extent of such payment or to the extent provided under such settlement, a release, discharge and acquittance of the Account Debtor with respect to such Non-Tangible Collateral, and Debtor shall take any action as may reasonably be required by Secured Party in connection therewith. No Account Debtor on any Non-Tangible Collateral will ever be bound to make inquiry as to the termination of this Agreement or the rights of Secured Party to act hereunder, but shall be fully protected by Debtor in making payment directly to Secured Party.

Appears in 2 contracts

Samples: Security Agreement (Shreveport Capital Corp), Security Agreement (Shreveport Capital Corp)

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Account Debtors. Any payment or settlement of Non-Tangible --------------- Collateral made by an Account Debtor will be, to the extent of such payment or to the extent provided under such settlement, a release, discharge and acquittance of the Account Debtor with respect to such Non-Tangible Collateral, and Debtor Debtors shall take any action as may reasonably be required by Secured Party in connection therewith. No Account Debtor on any Non-Tangible Collateral will ever be bound to make inquiry as to the termination of this Agreement or the rights of Secured Party to act hereunder, but shall be fully protected by Debtor Debtors in making payment directly to Secured Party.

Appears in 2 contracts

Samples: Security Agreement (Herbst Gaming Inc), Security Agreement (Herbst Gaming Inc)

Account Debtors. Any payment or settlement of Non-Tangible --------------- Collateral made by an Account Debtor will be, to the extent of such payment or to the extent provided under such settlement, a release, discharge and acquittance of the Account Debtor with respect to such Non-Tangible Collateral, and Debtor shall take any action as may reasonably be required by Secured Party in connection therewith. No Account Debtor on any Non-Tangible Collateral will ever be bound to make inquiry as to the termination of this Agreement or the rights of Secured Party to act hereunder, but shall be fully protected by Debtor in making payment directly to Secured Party.

Appears in 2 contracts

Samples: Security Agreement (NGA Holdco, LLC), Security Agreement (NGA Holdco, LLC)

Account Debtors. Any payment or settlement of Non-Non- Tangible --------------- Collateral made by an Account Debtor will be, to the extent of such payment or to the extent provided under such settlement, a release, discharge and acquittance of the Account Debtor with respect to such Non-Tangible Collateral, and Debtor shall take any action as may reasonably be required by Secured Party in connection therewith. No Account Debtor on any Non-Tangible Collateral will ever be bound to make inquiry as to the termination of this Agreement or the rights of Secured Party to act hereunder, but shall be fully protected by Debtor in making payment directly to Secured Party.

Appears in 1 contract

Samples: Security Agreement (HCS Ii Inc)

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Account Debtors. Any payment or settlement of Non-Tangible --------------- Collateral made by an Account Debtor will be, to the extent of such payment or to the extent provided under such settlement, a release, discharge and acquittance of the Account Debtor with respect to such Non-Tangible Collateral, and each Debtor shall take any action as may reasonably be required by Secured Party in connection therewith. No Account Debtor on any Non-Tangible Collateral will ever be bound to make inquiry as to the termination of this Agreement or the rights of Secured Party to act hereunder, but shall be fully protected by such Debtor in making payment directly to Secured Party.

Appears in 1 contract

Samples: Security Agreement (HCS Ii Inc)

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