Collection and Servicing Rights. 4.4 (a) If no Event of Default exists, Borrower may service and receive and collect directly all sums payable to Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers shall be entitled to service and receive and collect directly all sums payable to the Borrowers in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers or otherwise, demand, sue xxx, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.
Collection and Servicing Rights. So long as no Event of Default shall have occurred, the Company shall be entitled to service and receive and collect directly all sums payable to the Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name or in the name of the Company or otherwise, demand, sxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Company shall, if the Lender so requests, forthwith pay to the Lender at its principal office all amounts thereafter received by the Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.
Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, Borrower or Borrower’s designated servicing agent shall be entitled to service, and shall continue to service the Collateral Loans, and to receive and collect directly all sums payable to Borrower in respect of the Collateral.
Collection and Servicing Rights. Unless written notice to the contrary is provided from Bank to Company after the occurrence of an Event of Default or unless the Servicer shall otherwise resign or be removed in accordance with the terms of the Lockbox Agreement, the Servicer shall at all times while this Agreement is in effect be responsible for receiving, collecting, processing and distributing, in accordance with the terms and provisions of the Lockbox Agreement, sums payable to any Company Subsidiary in respect of the Collateral. Unless an Event of Default shall have occurred and be continuing, subject to Section 2.9, all such sums shall be sent to the Lockbox for deposit into the BoS Account. All amounts payable to such Company Subsidiary for the purchase by any Investor under a Purchase Commitment of any Pledged Mortgage Loans shall also be deposited into the BoS Account. The Company Subsidiary shall instruct each Pledged Mortgage Loan obligor to direct all payments due under the Pledged Mortgage Loans, and shall direct each Investor to pay the amounts payable for the purchase of such Pledged Mortgage Loans, directly to the Lockbox. Subject to the terms and provisions of the Intercreditor Agreement, following the occurrence of any Event of Default, Bank may, at any time thereafter, upon written notice be entitled to service, receive and collect all sums payable to any Company Subsidiary in respect of the Pledged Mortgage Loans, and in such case: Bank in its discretion may, (i) require Company and each Company Subsidiary to establish a substitute lockbox for receiving sums payable to any Company Subsidiary in respect of the Collateral and instruct each Pledged Mortgage Loan obligor to direct all payments due under the Pledged Mortgage Loans thereto, (ii) in its own name or in the name of the applicable Company Subsidiary or otherwise, demand, sxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Pledged Mortgage Loans, but shall be under no obligation to do so. Except as otherwise provided herein and except as may be otherwise provided in the Intercreditor Agreement, all amounts received and collected by Bank shall be held by Bank as part of the Collateral.
Collection and Servicing Rights. (a) The Company Subsidiary and the Bank agree that the "Lock Box Terms" set forth on Exhibit F shall be utilized by Company Subsidiary for the receiving, collecting, and processing of all sums payable to the Company Subsidiary in respect of the Collateral (the "Lock-box Agreement"). Under that Lock-box Agreement, the Bank shall be entitled to receive all sums payable to the Company Subsidiary in respect of the Collateral. All amounts payable to the Company Subsidiary for the purchase by any Investor under a Purchase Commitment of any Pledged Mortgage Loans shall also be paid directly to the Bank. The Company Subsidiary shall instruct each Pledged Mortgage Loan obligor to direct all payments due under the Pledged Mortgage Loans, and shall direct each Investor to pay the amounts payable for the purchase of such Pledged Mortgage Loans, directly to the Lockbox address at the Bank.
Collection and Servicing Rights. (a) If no Event of Default has occurred or, as to any Event of Default, it has been waived in writing by the Administrative Agent, Borrower (or, if applicable pursuant to the Loan Servicing Agreement, the Servicer) may service and receive and collect directly all sums payable to Borrower in respect of the Collateral, other than proceeds of any sale of any Collateral. All proceeds of any sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Collection and Servicing Rights. So long as no Event of Default shall have occurred that the Agent has not declared in writing to have been cured or waived, the Company shall be entitled to service, receive and collect directly -- or cause to be serviced, received and collected through a Servicer or Servicers under one or more Servicing Agreements -- all sums payable to the Company in respect of the Collateral (excluding, however sums arising from sales or other dispositions of Collateral, which SECTION 6.6 requires to be paid to the Agent for application as therein stated). After the occurrence of any Event of Default that the Agent has not declared in writing to have been cured or waived, the Agent shall have the following rights (but no obligations):
Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, and subject to Section 7(p), ECCU, Debtor or Debtor’s designated servicing agent shall be entitled to service, and shall continue to service the Collateral Loans, and to receive and collect directly all sums payable to Debtor in respect of the Collateral. Lender hereby acknowledges that Debtor may continue to have the Collateral Loans serviced by ECCU pursuant to the terms of its existing LOAN SERVICING AGREEMENT with Debtor.
Collection and Servicing Rights. (a) While no Event of Default exists, Borrower (or, if applicable pursuant to the Loan Servicing Agreement, the Servicer) may service and receive and collect directly all sums payable to Borrower in respect of the Collateral, other than any payments which are required to be paid directly to the Cash Collateral Account pursuant to applicable provisions of this Agreement.
