Common use of Administration of Receivables Clause in Contracts

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.