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HomeMy WebLinkAbout1280 ~ its accounts, contracts, collections and other matters as Bank may from time to time specify; and permit Bank or its nominee to examine all of Borrower's records relating thereto ~ at any time, and to make extracts therefrom; (e) give Bank i assignments, in form acceptable to Bank of specific accounts ~ s a or groups of accounts, and of moneys due and to become due under ~ specific contracts; (f) furnish to Bank a copy of the invoice applicable to each account assigned to Bank or arising out of a contract right, bearing a statement that such account has been to any other person, and no person, except Borrower, has any claim ~ t thereto; (g) no partial payment has been made by anyone; and (h) no ~ set-off or counterclaim to any moneys due under such contract exists, and no agreement has been made with any person under which any deduction or discount may be claimed, except as set forth in the contract. Bank shall have the right at any time and from time to time, without notice, to: (a) endorse all items of payments which may come into~its hands payable to Borrower; (b) notify Purchasers that accounts or contract rights have been assigned to : Bank, forward invoices to Purchasers, directing.them to make ~ payments to Bank, collect all accounts in its or Borrower's name, ~ and take control of any cash or non-cash proceeds of accounts, (c) I ; compromise, extend or renew any account or deal with the same ~ as it may deem advisable; (d) make exchanges, substitutions or surrenders of collateral. If at any time any warranty, representation, certificate or statement of Borrower is not true, or if any liability or any part or installment thereof or interest thereon is not paid when due, or if any event of default as defined in any note or other evidence of liability held by Bank should occur, or if Borrower , should fail to observe or perform any agreement or terem hereof, or ~ ~ if Bank at any time reasonably feels insecure for any reason what- ~ soever, Bank may, at its option; thereupon or thereafter declare all ~ ~ liabilities of ~orrower to Bank, or any of them selected by Bank ~ (notwithstanding any provisions thereof), immediately due and payable ~ without demand or notice of any kind and the same thereupon shall ~ immediately become and be due and payable without demand or notice (but with such adjustments, if any, with respect to interest or other - charges as ;,?ay be provided for in the promis ~ e o r writing ~t! _ FhGf~~ n~~ such liability) . ' S ~ ~ - ~ - ~ ~ ~ ~ , ~ - ~ ~ ~