Common use of Collection and Maintenance of Collateral and Records Clause in Contracts

Collection and Maintenance of Collateral and Records. Company shall keep and maintain, at its own cost and expense, satisfactory and complete records of the Collateral including, without limitation, a record of any and all payments received and any and all credits granted with respect to the Collateral and all other dealings with the Collateral. Secured Party may at any time verify Company’s Receivables utilizing an audit control company or any other agent of Secured Party. Secured Party or Secured Party’s designee may notify Customers at any time following the occurrence and during the continuance of an Event of Default, at Secured Party’s reasonable discretion, of Secured Party’s security interest in Receivables (contracts, instruments, or chattel paper as the case may be), collect them directly from the Customers or parties to contracts, instruments and chattel paper and charge the collection costs and expenses to the applicable Company’s account, but, unless and until Secured Party does so or gives Company other instructions, Company shall collect all Receivables for Secured Party, receive all payments thereon for Secured Party’s benefit in trust as Secured Party’s trustee and immediately deliver them to Secured Party in their original form with all necessary endorsements or, as directed by Secured Party, deposit such payments as directed by Secured Party. Company shall provide Secured Party, as requested by Secured Party, such schedules, documents and/or information regarding the Collateral as Secured Party may require.

Collection and Maintenance of Collateral and Records. Company shall keep and maintain, at its own cost and expense, satisfactory and complete records of the Collateral including, without limitation, a record of any and all payments received and any and all credits granted with respect to the Collateral and all other dealings with the Collateral. Secured Party may at any time verify Company’s Receivables utilizing an audit control company or any other agent of Secured Party. Secured Party or Secured Party’s designee may notify Customers at any time following the occurrence and during the continuance of an Event of Default, at Secured Party’s reasonable discretion, of Secured Party’s security interest in Receivables (contracts, instruments, or chattel paper as the case may be), collect them directly from the Customers or parties to contracts, instruments and chattel paper and charge the collection costs and expenses to the applicable Company’s account, but, unless and until Secured Party does so or gives Company other instructions, Company shall collect all Receivables for Secured Party, receive all payments thereon for Secured Party’s benefit in trust as Secured Party’s trustee and immediately deliver them to Secured Party and, in their original form with all necessary endorsements endorsements, deposit them in the Blocked Account or, as directed by Secured Party, deposit such payments as directed by immediately deliver them to Secured Party. Upon the occurrence and continuation of an Activation Event, the Company shall collect as Secured Party’s property and in trust for Secured Party all amounts received on its Receivables and shall not commingle any collections received on its Receivables with the Company’s funds or use the same except to pay the Obligations. Company shall provide Secured Party, as requested by Secured Party, such schedules, documents and/or information regarding the Collateral as Secured Party may require.

Collection and Maintenance of Collateral and Records. Company shall keep and maintain, at its own cost and expense, satisfactory and complete records of the Collateral including, without limitation, a record of any and all payments received and any and all credits granted with respect to the Collateral and all other dealings with the Collateral. Secured Party may at any time verify Company’s 's Receivables utilizing an audit control company or any other agent of Secured Party. Secured Party or Secured Party’s 's designee may notify Customers at any time following the occurrence and during the continuance of an Event of Defaulttime, at Secured Party’s reasonable 's sole discretion, of Secured Party’s 's security interest in Receivables (contracts, instruments, or chattel paper as the case may be), collect them directly from the Customers or parties to contracts, instruments and chattel paper and charge the collection costs and expenses to the applicable Company’s 's account, but, unless and until Secured Party does so or gives Company other instructions, Company shall collect all Receivables for Secured Party, receive all payments thereon for Secured Party’s 's benefit in trust as Secured Party’s 's trustee and immediately deliver them to Secured Party in their original form with all necessary endorsements or, as directed by Secured Party, deposit such payments as directed by Secured Party. Company shall provide Secured Party, as requested by Secured Party, such schedules, documents and/or information regarding the Collateral as Secured Party may require.

Collection and Maintenance of Collateral and Records. Each Company shall keep and maintain, at its own cost and expense, satisfactory and complete records of the Collateral which are complete in all material respects, including, without limitation, a record of any and all payments received and any and all credits granted with respect to the Collateral and all other dealings with the Collateral. Secured Party may at any time verify any Company’s 's Receivables utilizing an audit control company or any other agent of Secured Party. Secured Party or Secured Party’s designee may notify Customers at any time following After the occurrence and during the continuance of an Event of Default, at Secured Party or Secured Party’s reasonable discretion, 's designee may notify any Person of Secured Party’s 's security interest in Receivables (contracts, instruments, or chattel paper as the case may be), collect them directly from the Customers such Person or parties to contracts, instruments and chattel paper and charge the reasonable collection costs and expenses to the applicable Company’s 's account, but, unless and until Secured Party does so or gives such Company other instructions, such Company may continue to collect all Receivables for its own benefit. After the occurrence and during the continuance of an Event of Default, to the extent that Secured Party or Secured Party's designee does not take action in accordance with the immediately preceding sentence, each Company shall collect all Receivables for Secured Party, receive all payments thereon for Secured Party’s 's benefit in trust as Secured Party’s 's trustee and immediately deliver them to Secured Party in their original form with all necessary endorsements or, as directed by Secured Party, deposit such payments as directed by Secured Party. Each Company shall provide Secured Party, as requested by Secured Party, such schedules, documents and/or information regarding the Collateral as Secured Party may reasonably require.

Collection and Maintenance of Collateral and Records. The Company shall keep and maintain, maintain at its own cost and expense, satisfactory and complete records of the Collateral including, without limitation, a record of any and all payments received and any and all credits granted with respect to the Collateral and all other dealings with the Collateral. Secured Party may at any time verify the Company’s Receivables 's Accounts utilizing an audit control company or any other agent of Secured Party. Secured Party or Secured Party’s 's designee may notify Customers at any time following the occurrence and during the continuance of an Event of Default, at Secured Party’s reasonable 's sole discretion, of Secured Party’s 's security interest in Receivables Accounts (contracts, instruments, or chattel paper as the case may be), collect them directly from the Customers or parties to contracts, instruments and chattel paper and charge the collection costs and expenses to the applicable Company’s 's account, but, unless and until Secured Party does so or gives the Company other instructions, the Company shall collect all Receivables Accounts for Secured Party, receive all payments thereon for Secured Party’s 's benefit in trust as Secured Party’s 's trustee and immediately deliver them to Secured Party in their original form with all necessary endorsements or, as directed by Secured Party, deposit such payments as directed by Secured Party. The Company shall provide Secured Party, as requested by Secured Party, such schedules, documents and/or information regarding the Collateral as Secured Party may require.