Common use of AUTHORIZATION TO RECOVER Clause in Contracts

AUTHORIZATION TO RECOVER. Save and except for claims resulting from an expropriation, those referred to in Section 9 and paragraph 12.9 hereof and save for any other claims for which collection is otherwise dealt with pursuant to any agreement entered into with the Trustee or any other person, the Trustee hereby authorizes the Grantor to recover all claims and other Charged property referred to in paragraph 4.5. Such authorization may be revoked at any time by the Trustee by written notice with respect to all or any part of the hypothecated claims, whereupon the Trustee shall be free to itself effect such recovery and to exercise any of the rights referred to in paragraph 8.2 below; the Grantor shall then remit to the Trustee all records, books, invoices, bills, contracts, titles, papers and other documents related to the claims. If, after such authorization is revoked (and even if such revocation is not yet registered or delivered to the holders of such claims), sums payable under such claims and property are paid to the Grantor, it shall receive same as mandatary of the Trustee and shall remit same to the Trustee promptly without the necessity of any demand to this effect.