Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower for the Lender; shall not be commingled with any of the Borrower's other funds; and shall be deposited and/or transferred only to the Blocked Account.
Appears in 6 contracts
Samples: Loan and Security Agreement (White House Inc/Md), Loan and Security Agreement (Paper Warehouse Inc), Loan and Security Agreement (Harvey Electronics Inc)
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower for the Lender; shall not be commingled with any of the Borrower's other funds; and shall be deposited and/or transferred only to the Blocked Central Account.
Appears in 3 contracts
Samples: Agreement (Crown Books Corp), Loan and Security Agreement (Sunbelt Nursery Group Inc), Loan and Security Agreement (Sunbelt Nursery Group Inc)
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower Borrowers for the Lender; Collateral Agent, for the benefit of the Lenders, shall not be commingled with any of the Borrower's Borrowers' other funds; , and shall be deposited and/or transferred transferred, no less frequently than daily, only to the Blocked Account, LockBox Account or the Concentration Account. Permitted Investments shall be pledged to the Collateral Agent for the benefit of the Lenders.
Appears in 2 contracts
Samples: Loan and Security Agreement (Mazel Stores Inc), Loan and Security Agreement (Mazel Stores Inc)
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower Borrowers for the Lender; shall not be commingled with any of the Borrower's Borrowers’ other funds; and shall be deposited and/or transferred only to the Blocked Account.
Appears in 2 contracts
Samples: Loan and Security Agreement (Iparty Corp), Loan and Security Agreement (Paper Warehouse Inc)
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower for the LenderAgent; shall not be commingled with any of the Borrower's other funds; and shall be deposited and/or transferred only to the Blocked Account.
Appears in 2 contracts
Samples: Loan and Security Agreement (Roberds Inc), Loan and Security Agreement (Aeropostale Inc)
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower Borrowers for the LenderAdministrative Agent and the Lenders; shall not be commingled with any of the any Borrower's other funds; and shall be deposited and/or transferred only to the Blocked Concentration Account.
Appears in 2 contracts
Samples: Loan and Security Agreement (Homeplace of America Inc), Loan and Security Agreement (Baker J Inc)
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower Borrowers for the Lender; Collateral Agent, for the benefit of the Lenders, shall not be commingled with any of the Borrower's Borrowers' other funds; , and shall be deposited and/or transferred transferred, no less frequently than daily, only to the Blocked Account or the Concentration Account. Permitted Investments shall be pledged to the Collateral Agent for the benefit of the Lenders.
Appears in 1 contract
Samples: Loan and Security Agreement (Restoration Hardware Inc)
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower for the LenderAgent; shall not be commingled with any of the Borrower's other funds; and shall be deposited and/or transferred only to the Blocked Central Account.
Appears in 1 contract
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower and AWI for the Lender; shall not be commingled with any of the Borrower's or AWI's other funds; and shall be deposited and/or transferred only to the Blocked Account.
Appears in 1 contract
Proceeds and Collection of Accounts. (a) All Receipts constitute Collateral and proceeds of Collateral and shall be held in trust by the Borrower for the Lender; shall not be commingled with any of the Borrower's other funds; and shall be deposited and/or transferred only to the Blocked Concentration Account.
Appears in 1 contract
Samples: Big Entertainment Inc
