In AMF Inc. v. Algo Distribs. (48 AD2d 352, 369 N.Y.S.2d 460 [2d Dept 1975]), plaintiff's conversion claim for the proceeds of a sale occurred under a security agreement, in which plaintiff established a "security interest in the collateral and in the proceeds of any sale thereof, the sale of the collateral, and the failure by two of the defendants to pay over the proceeds on behalf of the corporate defendant upon proper demand therefor and the diversion of the proceeds for general corporate purposes." The Court also noted that the security agreement expressly "created an immediate right to possession of specific moneys, since under its terms the debtor covenanted to account to the plaintiff for the proceeds of any goods upon request. . . . . The security agreement imposed upon the debtor the obligation to hold specific moneys for the creditor and barred the debtor from disbursing those moneys for general corporate purposes."