Certain Government Receivables Sample Clauses

Certain Government Receivables. With respect to Receivables or Contracts, in each case, that constitute Collateral, to which the counterparty or obligor is (i) a Governmental Authority, such Grantor shall, as soon as reasonably practicable after the request by the Administrative Agent, take any commercially reasonable actions under any Assignment of Claims Act required to permit or approve the assignment of the rights to payment thereunder or thereon to the Administrative Agent on behalf of and for the benefit of the Secured Parties; provided, that the Administrative Agent shall not make such request with respect to any Receivables or Contracts that are not included in the calculation of the U.S. Borrowing Base or the Kildair Borrowing Base to the extent that the value of all such Receivables and Contracts to which the counterparty or obligor is a Governmental Authority that have not been perfected under an Assignment of Claims Act is less than $5,000,000 at any one time outstanding unless an Event of Default shall have occurred and be continuing or (ii) a Governmental Authority of a State within the United States, such Grantor shall, as soon as reasonably practicable, give notice to the Administrative Agent if such Governmental Authority has not, or has ceased to, waive all claims of sovereign immunity with respect to such Receivable or Contract by statute, applicable case law, contract or otherwise.
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Certain Government Receivables. With respect to Receivables or Contracts, in each case, that constitute Pledged Collateral, to which the counterparty or obligor is a Governmental Authority, such Pledgor shall, as soon as reasonably practicable after the request by the Administrative Agent, take any commercially reasonable actions under the Assignment of Claims Act of 1940, as amended from time to time (31 U.S.C. §3723, et seq.) or any similar law required to permit or approve the assignment of the rights to payment thereunder or thereon to the Administrative Agent on behalf of and for the benefit of the Secured Parties.
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Certain Government Receivables. With respect to Receivables or Contracts, in each case, that constitute Collateral, to which the counterparty or obligor is a Governmental Authority, such Grantor shall, as soon as reasonably practicable after the request by the Administrative Agent, take any commercially reasonable actions under the Financial Administration Act (Canada), and any similar local, provincial or territorial laws, rules or regulations, required to permit or approve the assignment of the rights to payment thereunder or thereon to the Administrative Agent on behalf of and for the benefit of the Secured Parties; provided, that the Administrative Agent shall not make such request with respect to any Receivables or Contracts that are not included in the calculation of the U.S. Borrowing Base or the Kildair Borrowing Base to the extent that the value of all such Receivables and Contracts to which the counterparty or obligor is a Governmental Authority that have not been perfected under the Financial Administration Act (Canada), or any similar local, provincial or territorial laws, rules or regulations, is less than $5,000,000 at any one time outstanding unless an Event of Default shall have occurred and be continuing.
Sample 1Sample 2
Certain Government Receivables. With respect to Receivables or Contracts, in each case, that constitute Collateral, to which the counterparty or obligor is a Governmental Authority, the Grantor shall, as soon as reasonably practicable after the request by the Collateral Trustee, take any actions under any Assignment of Claims Act required to permit or approve the assignment of the rights to payment thereunder or thereon to the Collateral Trustee on behalf of and for the benefit of the Specified Parties.
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Related to Certain Government Receivables

  • Government Receivables Take all steps necessary to protect Agent’s interest in the Collateral under the Federal Assignment of Claims Act, the Uniform Commercial Code and all other applicable state or local statutes or ordinances and deliver to Agent appropriately endorsed, any instrument or chattel paper connected with any Receivable arising out of contracts between any Borrower and the United States, any state or any department, agency or instrumentality of any of them.

  • Collection of Receivables Except as otherwise provided in this Security Agreement, such Grantor will collect and enforce, at such Grantor’s sole expense, all amounts due or hereafter due to such Grantor under the Receivables owned by it.

  • Collection of Receivable Payments The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection procedures as it follows with respect to all comparable motor vehicle receivables (including automobiles and light-duty trucks) that it services for itself or others. The Servicer shall be authorized to grant extensions, rebates or adjustments on a Receivable without the prior consent of the Issuer. If, as a result of the extending of payments in accordance with the customary servicing standards of the Servicer, any Receivable will be outstanding later than the Final Scheduled Maturity Date, the Servicer shall be obligated to repurchase such Receivable pursuant to Section 3.08. In addition, in the event that any such rescheduling or extension of a Receivable modifies the terms of such Receivable in such a manner as to constitute a cancellation of such Receivable and the creation of a new motor vehicle receivable (including automobiles and light-duty trucks) that results in a deemed exchange thereof within the meaning of Section 1001 of the Code, the Servicer shall purchase such Receivable pursuant to Section 3.08, and the receivable created shall not be included in Collateral held by the Issuer. Notwithstanding the foregoing, extensions or modifications of the payment schedule of a Receivable can be made only in accordance with the customary servicing procedures of the Servicer, provided that the amount of any extension fee charged in connection with the extension of a Receivable is deposited into the Collection Account by the Servicer in accordance with Section 4.05(a). The Servicer may, in accordance with its customary servicing procedures, waive any prepayment charge, late payment charge or any other fees that may be collected in the ordinary course of servicing the Receivables.

  • Government Accounts Accounts that are the obligation of an Account Debtor that is the United States government or a political subdivision thereof, or any state, county or municipality or department, agency or instrumentality thereof unless Agent, in its sole discretion, has agreed to the contrary in writing, or the applicable Credit Party has complied with respect to such obligation with the Federal Assignment of Claims Act of 1940, or any applicable state, county or municipal law restricting the assignment thereof with respect to such obligation;

  • Reassignment of Ineligible Receivables (a) In the event any representation or warranty under Subsection 4.02(a)(ii), (iii), (iv), (vi), (vii) or (viii) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and as a result of such breach RFC III is required under Subsection 2.05(a) of the Pooling and Servicing Agreement to accept reassignment of such Receivables previously sold by Centurion to RFC III pursuant to this Agreement, Centurion shall accept reassignment of such Receivables on the terms and conditions set forth in Subsection 6.01(b).

  • Notification of Assignment of Receivables At any time following the occurrence of an Event of Default or a Default, Agent shall have the right to send notice of the assignment of, and Agent's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Agent's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

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