Authority to collect Sample Clauses
Authority to collect. 4.1. The authority to collect dividends, distributions from reserves, repayments of capital and all other distributions and payments in any form, which, at any time, during the term of the Right of Pledge, become payable on any one or more of the Shares, shall accrue to the Pledgee, as provided for in Section 3:246 of the CCC, subject to the termination and/or release of the Existing Rights of Pledge.
4.2. In derogation of the provisions of paragraph 1, the Pledgee hereby grants approval to the Pledgor to collect all dividends, distributions from reserves, repayments of capital and all other distributions and payments in any form, which, at any time, during the term of the Right of Pledge, become payable on any one or more of the Shares, subject to the termination and/or release of the Existing Rights of Pledge.
4.3. The Pledgee may terminate the authorization mentioned in section 4.2 upon occurrence of an Event of Default only. Termination of the authorization is made by written statement to that effect, by the Pledgee to the Pledgor. The Pledgee shall inform the Company of the termination in writing.
Authority to collect. 7.1 The Security Trustee is authorised to collect the Mortgage Receivables and the Beneficiary Rights relating thereto and to exercise fully all rights which the CBC has thereunder vis-à-vis the relevant Borrowers, the Insurance Companies and any third parties, provided, however, that no such right to collect a Mortgage Receivable and the Beneficiary Right relating thereto, may be exercised by the Security Trustee until notification of the right of pledge on such Mortgage Receivables and the Beneficiary Rights relating thereto to the relevant Borrowers and Insurance Companies has taken place.
7.2 If, after notification of the right of pledge on (a) a Mortgage Receivable to the relevant Borrower or (b) a Beneficiary Right to the relevant Insurance Company, the payment of any amount under such Mortgage Receivable or, as the case may be, such Beneficiary Right is made to the CBC and not to the Security Trustee, the CBC shall be obliged to transfer forthwith to the Security Trustee an amount equal to the amount so paid, without prejudice to the rights of the Security Trustee against the person who made the payments. If, after notification of the right of pledge on (a) a Mortgage Receivable to the relevant Borrower or (b) a Beneficiary Right to the relevant Insurance Company, the payment of any amount under a Mortgage Receivable or, as the case may be, such Beneficiary Right is made to the CBC, it shall for the purpose hereof be deemed as if made to the CBC as agent for the Security Trustee and the CBC shall pay such amount to the Security Trustee.
7.3 After notification of the rights of pledge on (a) a Mortgage Receivable to the relevant Borrower or (b) a Beneficiary Right to the relevant Insurance Company, the Security Trustee shall be entitled to enforce and recover the Mortgage Receivable or, as the case may be, such Beneficiary Right, by initiating legal proceedings and to enter into arrangements with the relevant Borrower or the relevant Insurance Company, either by means of settlement or otherwise. Should the Security Trustee wish to make use of its power to enter into any such arrangements with respect to (a) a Mortgage Receivable or (b) a Beneficiary Right, the Security Trustee is obliged to promptly notify the CBC.
7.4 The Security Trustee shall not be obliged to initiate legal proceedings or in any way be liable towards the CBC for not or not completely collecting or recovering or enforcing - for whatever reason - any Mortgage Receivables and the Ben...
Authority to collect assumption of obligations; further assignment
8.1 The Issuer is authorised to collect, to have collected, to realise and to have realised in the ordinary course of its business or otherwise to use, the rights assigned for security purposes pursuant to clause 5 (Assignment for Security Purposes) and the rights pledged pursuant to clause 6 (Pledge) and to exercise or have exercised the unilateral rights (Gestaltungsrechte) pertaining to such rights and the rights and assets assigned for security purposes pursuant to the Deed of Charge and Assignment and the Assignation in Security.
8.2 The authority provided in clause 8.1 above is deemed to be granted only to the extent that all obligations of the Issuer are fulfilled in accordance with the Order of Priority prior to a Foreclosure Event. The authority may be revoked by the Security Trustee if this is necessary in the opinion of the Security Trustee to avoid endangering the Security or their value. The authority shall automatically terminate upon the occurrence of a Foreclosure Event pursuant to clause 17 (Foreclosure on the Security; Foreclosure Event) hereof.
8.3 The Security Trustee shall, in its relationship to the Issuer and to the Seller, comply with the continuing duties of care of the Issuer arising from the Receivables Purchase Agreement and the Servicing Agreement (including the treatment of the transfer to the Issuer as an equitable assignment). Such continuing duties shall not include, in particular, the payment obligations of the Issuer (i) pursuant to clause 3 (Sale of the Initial Receivables) and clause 4 (Sales of Additional Receivables) of the Receivables Purchase Agreement, or (ii) as compensation for damages.
(a) The Security Trustee is authorised to assign the Security assigned in accordance with clause 5 (Assignment for Security purposes) for security purposes:
(i) in the event the Security Trustee is replaced and all Security is assigned to a new security trustee (the "New Security Trustee"); or
(ii) upon occurrence of a Foreclosure Event pursuant to clause 17 (Foreclosure on the Security; Foreclosure Event) hereof; or
(iii) as long as Volkswagen Financial Services (UK) Limited is the Servicer, Volkswagen Financial Services (UK) Limited has given its consent to such assignment or if it unreasonably withholds its consent; such a withholding of consent shall as a rule be considered unreasonable if a transfer does not affect the interests of the Seller, the Obligors or the Issuer and the Tr...
Authority to collect. The Borrower shall take and shall direct other Persons to take all steps necessary to cause all Collateral Proceeds, including the Netflix License Fee, to be paid (as directed by the Lender) directly by Netflix or other obligor thereof to the Collection Account or to the Lender for deposit into the Collection Account to be applied by the Lender to the repayment of the Obligations. All collections received in the Collection Account or directly by the Borrower or its Affiliates or the Lender, and all funds in any other account to which such collections are deposited, shall, be the sole property of the Lender and subject to the Lender’s sole control.
Authority to collect. Customer hereby grants Athelas the right to bill, process and collect all xxxxxxxx relative to Patient Accounts, on the terms, rates, and conditions set forth in this Agreement, and furthermore grants Athelas full authority to perform all legal acts deemed necessary by Athelas to bill, process and collect the Patient Accounts. Athelas shall bill in the name of the Customer and under Customer’s appropriate Federal EIN and billing numbers. Fund remittances from third party payers will be made payable to the Customer and the payers will be instructed to remit payment directly to the Customer’s mailing address or bank account as designated in writing by Customer.
Authority to collect. Until the occurrence of an Event of Default, each Obligor (i) shall, at its own expense, endeavor to collect, as and when due, all amounts due to such Obligor with respect to the Collateral, including the taking of any action with respect to such collection as the Agent may reasonably request, or, in the absence of such request, as such Obligor may deem advisable and (ii) may grant, in the ordinary course of business, to any account debtor, any rebate, refund or allowance to which such account debtor may lawfully be entitled, and may accept, in connection therewith, the return of Hydrocarbons, the sale of which shall have given rise to Accounts.
Authority to collect. Borrowers agree to use best efforts to cause all sums, moneys, royalties, fees, commissions, charges, payments, advances, income, profit and other proceeds paid to or derived by or payable to or for the benefit of Borrowers on account of the distribution and exploitation of the Film in the Territory (including, without limitation, payments under the Existing Distribution Agreements and Additional Distribution Agreements), or on account of any other item of the Collateral, to be paid directly by the obligor thereof into the Collection Account to be applied to the payment of the Obligations until such Obligations are paid in full in accordance with Section 2.5 hereof. Upon receipt by Borrowers of any revenue, income, profits or other sums in which a security interest is granted hereunder, payable pursuant to any agreement or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, Borrowers agree to hold the same in trust for Lender and forthwith, without any notice or demand whatsoever (all such notices, demands or other actions being expressly waived), to endorse, transfer and deliver any such sums or instruments, or both, into the Collection Account to be applied to the payment of the Obligations in accordance with Section 2.5 hereof. 4.3 Attorney-in-Fact. Borrowers hereby constitute and appoint Lender as their true and lawful attorney, in their place and stead and with full power of substitution, either in Lender’s own name or in the name of Borrowers, upon the occurrence of any Event of Default to: ask for, demand, collect, receive, receipt and give acquittance for any and all monies due or to become due under and by virtue of any of the Collateral; execute, file and refile any or all of the documents recited in Section 6.7 hereof; and endorse checks, drafts, orders and other instruments for the payment of monies payable to Borrowers on account thereof, and to settle, compromise, prosecute or defend any action, claim or proceeding with respect thereto and to sell, assign, pledge, transfer and make any agreement respecting or affecting, or otherwise deal with, the same until the Obligations are paid in full; provided, however, that nothing herein contained shall be construed as requiring or obligating Lender to make any demand, or to make any inquiry as to the nature or sufficiency of any payment received by it, or to present or file any claim or notice or take any action with respect to ...
Authority to collect. Except as otherwise hereinafter set forth, unless and until the occurrence of an event which constitutes an Event of Default hereunder or which upon the giving (or receiving) of notice or the lapse of time or both would constitute such an Event of Default, the Debtors shall continue to collect, at their own expense, all amounts due and to become due under any accounts, chattel paper, or general intangibles and in connection therewith may take such action as they may deem necessary, advisable, convenient or proper for the enforcement, collection, adjustment, settlement or compromise thereof.
Authority to collect. The authority to collect dividends, distributions from reserves, repayments of capital and all other distributions and payments in any form, which, at any time, during the term of the Right of Pledge, become payable on any one or more of the Pledged Assets, shall accrue to the Pledgee, as provided for in Section 3:246 of the Dutch Civil Code.
Authority to collect. Except as otherwise hereinafter set forth, unless and until the Company fails to pay the outstanding principal amount and accrued interest under the Loans in full in cash on the Demand Date ("Event of Default"), the Debtors shall continue to collect, and upon the occurrence of such an event, the Debtors may, at the direction of the Lender, continue to collect, at their own expense, all amounts due and to become due under any accounts, chattel paper, instruments or general intangibles and in connection therewith may take such action as they may deem necessary, advisable, convenient or proper for the enforcement, collection, adjustment, settlement or compromise thereof.