Common use of Change in Payment Instructions to Obligors Clause in Contracts

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b), the Borrower will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑Box; provided, however, that the Borrower may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 3 contracts

Samples: Credit and Security Agreement (Martin Marietta Materials Inc), Credit and Security Agreement (Martin Marietta Materials Inc), Credit and Security Agreement (Martin Marietta Materials Inc)

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Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b), the Borrower Servicer will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 3 contracts

Samples: Credit and Security Agreement (Martin Marietta Materials Inc), Credit and Security Agreement (Martin Marietta Materials Inc), Credit and Security Agreement (Martin Marietta Materials Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b), the Borrower It will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any of Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, (i) at least ten twenty (1020) days before the proposed effective closing date therefor, (i) written notice of such addition, termination or change change, and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxAccount, an executed Collection Account Control Agreement with respect to the new Collection Account or Lock‑Boxprior to depositing any Collections therein; provided, however, that the Borrower it may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Lock-Box that clears through a Collection AccountAccount subject to a Control Agreement or to another existing Collection Account that is subject to a Control Agreement.

Appears in 2 contracts

Samples: Receivables Sale and Contribution Agreement (Tempur Sealy International, Inc.), Receivables Sale Agreement (Tempur Sealy International, Inc.)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent Agents and Xxxxx Fargo shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Convergys Corp), Receivables Purchase Agreement (Convergys Corp)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent and each Managing Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (LKQ Corp), Receivables Purchase Agreement (LKQ Corp)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a (a) Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments without notice to the Administrative Agent if such new instructions require such Obligor to make payments to another existing Collection AccountAccount or Lock‑Box.

Appears in 2 contracts

Samples: Receivables Sale Agreement (Marathon Petroleum Corp), Receivables Purchase Agreement (Marathon Petroleum Corp)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent or the Managing Agents pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent and each Managing Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Timken Co), Assignment Agreement (Timken Co)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(bSECTION 8.2(b), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; providedPROVIDED, howeverHOWEVER, that the Borrower Master Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Thomas & Betts Corp)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.02(b), neither the Borrower nor the Servicer will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (ia) written notice of such addition, termination or change and (iib) with respect to the addition of a Collection Bank or the addition of a Lock-Box or Collection Account or Lock‑BoxAccount, an executed Collection Account Agreement with respect to the new Lock-Box or Collection Account or Lock‑BoxAccount; provided, however, provided that the Borrower may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b), the Borrower will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Credit and Security Agreement (Martin Marietta Materials Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b)8.2(b) of the Purchase Agreement, the Borrower Originator will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless Buyer and the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Originator may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Sale Agreement (Avnet Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent and the PurchasersManaging Agents shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Insight Enterprises Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent Agents and Wachovia shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Convergys Corp)

Change in Payment Instructions to Obligors. (c) . Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Energizer Holdings Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b) or as otherwise permitted in Section 8.2(a), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection AccountAccount that is subject to an executed Collection Account Agreement.

Appears in 1 contract

Samples: Receivables Financing Agreement (Syncor International Corp /De/)

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Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b)) of the Credit and Security Agreement, the Borrower will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Purchase and Contribution Agreement (Martin Marietta Materials Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b)9.03, the Borrower Seller will not add or terminate any bank as a Collection Account Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date thereforthereof, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Account Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Control Agreement and Lock-Box Transfer Notice, as applicable with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection AccountAccount or Lock-Box.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Newell Brands Inc.)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b), the Borrower Servicer will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Credit and Security Agreement (Martin Marietta Materials Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent Agents shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; providedPROVIDED, howeverHOWEVER, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Purchase Agreement (RPM Inc/Oh/)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b)9.03, the Borrower Servicer will not add or terminate any bank as a Collection Account Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date thereforthereof, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Account Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Control Agreement and Lock-Box Transfer Notice, as applicable with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection AccountAccount or Lock-Box.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Newell Brands Inc.)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b)8.2(b) of the Purchase Agreement, the Borrower Originator will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless Buyer and the Administrative Agent shall have received, at least ten (10) 10 days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Originator may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Sale Agreement (Avnet Inc)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b8.2(b), the Borrower such Seller Party will not add or terminate any bank as a (a) Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; provided, however, that the Borrower Servicer may make changes in instructions to any such Obligors regarding payments without notice to the Administrative Agent if such new instructions require such Obligor to make payments to another existing Collection AccountAccount or Lock-Box.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Marathon Petroleum Corp)

Change in Payment Instructions to Obligors. Except as may be required by the Administrative Agent pursuant to Section 6.2(b)8.02(b) of the Credit Agreement, the Borrower Seller will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Buyer and the Administrative Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or the addition of a Lock-Box or Collection Account or Lock‑BoxAccount, an executed Collection Account Agreement with respect to the new Lock-Box or Collection Account or Lock‑BoxAccount; provided, however, provided that the Borrower Seller may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Sale Agreement (Anixter International Inc)

Change in Payment Instructions to Obligors. Except as may be required by Without the consent of the Buyer and the Administrative Agent pursuant to Section 6.2(b(as Buyer's assignee), the Borrower Originator will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors under any Receivables regarding payments to be made to any Lock‑Box Lock-Box or Collection Account, unless the Administrative Agent Buyer (or its assigns) shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock‑BoxLock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock‑BoxLock-Box; providedPROVIDED, howeverHOWEVER, that the Borrower such Originator may make changes in instructions to any such Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Fisher Scientific International Inc)

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