Common use of As to Collateral Clause in Contracts

As to Collateral. Security Agreement (a) Administrative Agent may, at the expense of Grantor, endeavor to collect, as and when due, all amounts due with respect to any of the Collateral. Administrative Agent, as assignee hereunder of the Lease, may, at any time, enforce collection of any of the Collateral by suit or otherwise and surrender, release, or exchange all or any part thereof, or compromise or extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder or evidenced thereby. (b) Administrative Agent is authorized to endorse, in the name of Grantor, any item, howsoever received by Administrative Agent, representing any payment on or other proceeds of any of the Collateral. (c) If a Lease Default shall have occurred and be continuing, then the Administrative Agent, as assignee hereunder of the Lease, when required pursuant to the provisions of the Participation Agreement or the Lease, shall declare a Lease Event of Default and shall, when required pursuant to the provisions of the Participation Agreement or the Lease, exercise any or all of the rights and powers and pursue any or all of the remedies of Lessor pursuant to Article XVI of the Lease.