Administration of Receivables. (a) Consistent with the Company's ownership of the Purchased Receivables of the Originator, the Company shall have all rights to and shall be solely responsible for servicing, administering and collecting the Purchased Receivables. Until the Company (or the Agent pursuant to the Receivables Loan Agreement) gives contrary notice, the Company hereby appoints Eagle-Picher Industries and its sub-agents as its agent (and as Collection Agent under the terms of the Receivables Loan Agreement) for the servicing, administering and collecting of the Purchased Receivables (the "Servicing Agent"), and the Originator hereby accepts such appointment and agrees to perform such duties in accordance with the applicable terms and conditions of the Receivables Loan Agreement. The Originator hereby further agrees not to voluntarily resign as Servicing Agent.
Administration of Receivables. (c) Consistent with the Buyer’s ownership of the Purchased Assets with respect to each Originator, the Buyer shall have all rights to and shall be solely responsible for servicing, administering and collecting the Receivables that are part of such Purchased Assets. The Buyer may appoint any Person as its agent to perform such services.
Administration of Receivables. (a) Consistent with the Company's ownership of the Purchased Receivables, the Company shall have all rights to and shall be solely responsible for servicing, administering and collecting the Purchased Receivables. The Company may appoint any Person as its agent to perform such services.
Administration of Receivables. (a) Consistent with BSF's ownership of the Receivables, BSF shall be responsible for servicing, administering and collecting the Receivables, and the Seller, as seller, shall have no obligation whatsoever in this regard; provided that nothing shall prevent BSF from engaging the services of any Person, including BSC, to service, administer and collect the Receivables as Servicer. The Seller hereby grants to BSF an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the Seller all steps necessary or desirable, as determined by BSF, to collect all amounts due under any Receivable, including, without limitation, endorsing the name of the Seller on checks and other instruments representing Collections, enforcing such Receivables and the related Contracts, and adjusting, settling or compromising the amount or payment thereof, in the same manner and to the same extent as the Seller would have been entitled.
Administration of Receivables. (a) CPFC shall, or shall cause the Servicer to (in which event the Servicer shall), maintain all books and records relating to the Receivables as may be necessary or advisable for the administration, servicing and collection of the Receivables (including, without limitation, duplicate records and/or system redundancy so as to enable the reconstruction of essential records in the event of any reasonably foreseeable casualty) and all other information necessary to establish or evidence the Buyers' right, title and interest in and to the Purchased Interest, such records and information to be prepared and maintained in a manner and utilizing procedures no less adequate than the manner and procedures in effect on the date hereof. The Servicer shall not encumber, or permit any party other than the Buyers to encumber, any right, title or interest in such books and records. All Receivables will be identified under one or more computer codes not used for any other accounts receivable or any other accounting items of CPFC or any other Person and will be readily identifiable and otherwise segregated from all other accounts receivable and other accounting items of CPFC, the Seller, the Servicer and any other Person. Any printout listing the Receivables will indicate that CPFC owns the Receivables and that the Buyers own the Purchased Interest in the Receivables.
Administration of Receivables. The Borrowers and Borrower Agent shall administer the Receivables in a commercially reasonable manner and consistent in all respects with the terms of this Agreement and the other Loan Documents and the rights of Senior Lender granted hereunder and thereunder. Without limiting any other provisions of the Loan Documents, the obligations of the Borrowers and the Borrower Agent relative to the Receivables shall include, without limitation:
Administration of Receivables. (a) Upon and after the occurrence of an Event of Default (which has not been waived or cured if permitted under Section 7), the Lender or, if so directed by the Lender, the Servicer, shall have the exclusive right to settle or adjust all disputes and claims directly with any Obligor and to compromise the amount or extend the time for payment of the Receivables upon such terms and conditions as the Lender may deem advisable. Any cost or expense incurred by Lender in connection therewith shall be a Reimbursable Expense. Upon notice by the Lender, after the occurrence of a Servicer Event of Default, which notice may be given in the Lender's sole discretion, the Lender shall have the right to determine in all respects the future administration and servicing of the Receivables.
Administration of Receivables. (a) Consistent with CPFC's ownership of the Receivables, CPFC shall be responsible for servicing, administering and collecting the Receivables, and the Seller, as seller, shall have no obligation whatsoever in this regard; PROVIDED that nothing shall prevent CPFC from engaging the services of any Person, including CPC, to service, administer and collect the Receivables as Servicer. The Seller hereby grants to CPFC an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the Seller all steps necessary or desirable, as determined by CPFC, to collect all amounts due under any Receivable, including, without limitation, endorsing the name of the Seller on checks and other instruments representing Collections, enforcing such Receivables and the related Contracts, and adjusting, settling or compromising the amount or payment thereof, in the same manner and to the same extent as the Seller would have been entitled.
Administration of Receivables. 1. The Connection Client is authorized until revocation by MHB FS and obliged to them, to keep the total debtor books of the receivables listed in the inventory lists of receivables (purchased or not) and to carry out the collection procedure. This obligation includes:
Administration of Receivables. Consistent with the Company’s ownership of the Purchased Assets, the Company shall be solely responsible for servicing, administering and collecting such Purchased Assets, and the Originators shall have no obligation whatsoever in this regard. The Originators hereby grant the Company an irrevocable power of attorney, with full power of substitution, coupled with an interest to take in the name of the Originators all steps necessary or desirable, in the Company’s determination, to collect all amounts due under any Receivable, including without limitation, endorsing the name of the applicable Originator on checks and other instruments representing collection, enforcing such Receivables and the contracts or tariffs under which such Receivables arise, and adjusting, settling or compromising the amount or payment thereof, in the same manner and to the same extent as the Originators would have been entitled. Any payment by an Obligor in respect of any indebtedness owed by it to the Company shall, except as otherwise specified by such Obligor or otherwise required by contract or law, and subject to the Receivables Purchase Agreement, be applied in accordance with the Originators’ Credit and Collection Policy. The Originators hereby acknowledge and agree that the undertakings, covenants, and agreements made by the Originators in favor of the Company and the rights and powers granted to the Originators, in each case, pursuant to this Section 10.13 shall, subject to the terms of the Receivables Purchase Agreement and following a Termination Event, apply to the same extent to, and have the same force and effect in respect of, the Agent, as if such undertakings, covenants, agreements, rights and powers were made or granted directly to the Agent by the Originators.
