Common use of Notification of Account Debtors Clause in Contracts

Notification of Account Debtors. Without limiting any rights of Lender pursuant to this Agreement or under applicable law, after a Default or Event of Default has occurred, (i) Borrower, at the request of Lender, shall notify the Account Debtors of Lender’s security interest in Borrower’s Receivables; and (ii) Lender may notify the Account Debtors on any of the Receivables to make payment directly to Lender, and Lender may endorse all items of payment received by it that are payable to Borrower.

Appears in 4 contracts

Samples: Loan and Security Agreement (Helios & Matheson North America Inc.), Loan and Security Agreement (Helios & Matheson North America Inc.), Loan and Security Agreement (Helios & Matheson North America Inc.)

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Notification of Account Debtors. Without limiting any rights of Lender pursuant to this Agreement or under applicable law, after a Default or Event of Default has occurred, (i) Borrower, at the request of Lender, shall notify the Account Debtors of Lender’s 's security interest in Borrower’s Receivables; its Accounts. Upon the occurrence and (ii) continuance of any Event of Default, Lender may notify the Account Debtors debtors on any of the Receivables Accounts to make payment directly to Lender, and Lender may endorse all items of payment received by it that are payable to Borrower; until such time as Lender elects to exercise such right of notification, Borrower is authorized to collect and enforce the Accounts in accordance with Section 2A.4.

Appears in 2 contracts

Samples: Loan and Security Agreement (Judge Group Inc), Loan and Security Agreement (Judge Group Inc)

Notification of Account Debtors. Without limiting any rights of Lender pursuant to this Agreement or under applicable law, after a Default or Event of Default has occurred, (i) Borrower, at the request of Lender, shall notify the Account Debtors of Lender’s 's security interest in either Borrower’s 's Receivables; and (ii) Lender may notify the Account Debtors on any of the Receivables to make payment directly to Lender, and Lender may endorse all items of payment received by it that are payable to each Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (A Consulting Team Inc)

Notification of Account Debtors. Without limiting any rights of Lender pursuant to this Agreement or under applicable law, after a Default or Event of Default has occurred, (i) BorrowerBorrowers, at the request of Lender, shall notify the Account Debtors of Lender’s 's security interest in Borrower’s Borrowers' Receivables; and (ii) Lender may notify the Account Debtors on any of the Receivables to make payment directly to Lender, and Lender may endorse all items of payment received by it that are payable to BorrowerBorrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Afp Imaging Corp)

Notification of Account Debtors. Without limiting any rights of Lender pursuant to this Agreement or under applicable law, after a Default or Event of Default has occurred, (i) Borrower, at the request of Lender, shall notify the Account Debtors of Lender’s 's security interest in Borrower’s 's Receivables; and (ii) Lender may notify the Account Debtors on any of the Receivables to make payment directly to Lender, and Lender may endorse all items of payment received by it that are payable to Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (A Consulting Team Inc)

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Notification of Account Debtors. Without limiting any rights of Lender pursuant to this Agreement or under applicable law, after a Default or Event of Default has occurred, (i) Borrower, at the request of Lender, shall notify the Account Debtors debtors of Lender’s 's security interest in Borrower’s Receivables; its Accounts. Upon the occurrence and (ii) during the continuance of any Event of Default, Lender may notify the Account Debtors debtors on any of the Receivables Accounts to make payment directly to Lender (including pursuant to the form of letter delivered by Borrower to Lender), and Lender may endorse all items of payment received by it that are payable to Borrower.; until

Appears in 1 contract

Samples: Loan and Security Agreement (Intelligroup Inc)

Notification of Account Debtors. Without limiting any rights of Lender pursuant to this Agreement or under applicable law, after a Default or Event of Default has occurred, (i) Borrower, at the request of LenderLender upon the occurrence and continuation of an Event of Default, shall notify the Account Debtors debtors of Lender’s 's security interest in Borrower’s Receivables; its Accounts. Upon the occurrence and (ii) continuance of any Event of Default, Lender may notify the Account Debtors debtors on any of the Receivables Accounts to make payment directly to Lender, and Lender may endorse all items of payment received by it that are payable to Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Community Distributors Inc)

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