Notification of Account Debtors. Lender may at its Permitted Discretion from time to time during the continuation of an Event of Default notify any or all obligors under any accounts (i) of Lender’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Debtor thereunder directly to Lender, and (ii) to verify the accounts with such obligors. Lender shall have the right, at the expense of Debtor, to enforce collection of any such accounts and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as Debtor.
Appears in 2 contracts
Samples: Loan and Security Agreement (AmeriCrew Inc.), Loan and Security Agreement (H/Cell Energy Corp)
Notification of Account Debtors. Lender may at its Permitted Discretion reasonable discretion from time to time during the continuation of an Event of Default notify any or all obligors under any accounts (i) of Lender’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Debtor thereunder directly to Lender, and (ii) to verify the accounts with such obligors. Lender shall have the right, at the expense of Debtor, to enforce collection of any such accounts and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as Debtor.
Appears in 2 contracts
Samples: Loan and Security Agreement (Blue Dolphin Energy Co), Loan and Security Agreement (Blue Dolphin Energy Co)
Notification of Account Debtors. Lender may at its Permitted Discretion reasonable discretion from time to time during the continuation of an Event of Default notify any or all obligors under any accounts (i) of Lender’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Debtor thereunder directly to Lender, and (ii) to verify the accounts with such obligors. Lender shall have the right, at the expense of Debtor, to enforce collection of any such accounts and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as Debtor.
Appears in 2 contracts
Samples: Loan and Security Agreement (Dawson Geophysical Co), Loan and Security Agreement (TGC Industries Inc)
Notification of Account Debtors. Lender may at its Permitted Discretion reasonable discretion from time to time during the continuation of an Event of Default notify any or all obligors under any accounts or general intangibles (i) of Lender’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Debtor Borrower thereunder directly to Lender, and (ii) to verify the accounts or general intangibles with such obligors. Lender shall have the right, at the expense of DebtorBorrower, to enforce collection of any such accounts or general intangibles and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as DebtorBorrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Viewcast Com Inc), Exchange Agreement (Viewcast Com Inc)
Notification of Account Debtors. Lender may at its Permitted Discretion from time to time during the continuation of an Event of Default notify any or all obligors under any accounts (i) of LenderXxxxxx’s security interest in such accounts or general intangibles and direct such obligors to make payment of all amounts due or to become due to Debtor any Borrower thereunder directly to Lender, and (ii) to verify the accounts with such obligors. Lender shall have the right, at the expense of Debtorthe Borrowers, to enforce collection of any such accounts and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as Debtoreach Borrower.
Appears in 1 contract
Samples: Loan and Security Agreement (Digerati Technologies, Inc.)