Common use of Collection of Accounts; Segregation of Proceeds, Etc Clause in Contracts

Collection of Accounts; Segregation of Proceeds, Etc. Borrower covenants and agrees that, except to the extent that Agent’s or Collateral Agent’s exercise of its rights and remedies hereunder or under any other Loan Document shall prevent Borrower from doing so, Borrower will, at Borrower’s sole expense, collect from the Account Debtor on each Account all amounts due thereon as and when the same shall become due; and in the event of any default by any Account Debtor justifying such action, Borrower shall have the authority, at Borrower’s sole expense, to repossess any merchandise covered by any such Account in accordance with the terms thereof and any applicable Law and to take such other action with respect to any such Account or the merchandise covered thereby as Borrower, in the absence of instructions from Agent or Collateral Agent, may deem advisable.

Collection of Accounts; Segregation of Proceeds, Etc. Each Borrower covenants and agrees that, except to the extent that Agent’s or Collateral Agent’s exercise of its rights and remedies hereunder or under any other Loan Document shall prevent Borrower from doing so, Borrower will, at Borrower’s sole expense, collect from the Account Debtor Purchaser on each Account all amounts due thereon as and when the same shall become due; and in the event of any default by any Account Debtor Purchaser justifying such action, Borrower shall have the authority, at Borrower’s sole expense, to repossess any merchandise covered by any such Account in accordance with the terms thereof and any applicable Law and to take such other action with respect to any such Account or the merchandise covered thereby as Borrower, in the absence of instructions from Agent or Collateral Agent, may deem advisable.

Collection of Accounts; Segregation of Proceeds, Etc. Borrower covenants and agrees that, except to the extent that Agent’s or Collateral AgentBank’s exercise of its rights and remedies hereunder or under any other Loan Document shall prevent Borrower from doing so, Borrower will, at Borrower’s sole expense, collect from the Account Debtor on each Account all amounts due thereon as and when the same shall become due; and in the event of any default by any Account Debtor justifying such action, Borrower shall have the authority, at Borrower’s sole expense, to repossess any merchandise covered by any such Account in accordance with the terms thereof and any applicable Law and to take such other action with respect to any such Account or the merchandise covered thereby as Borrower, in the absence of instructions from Agent or Collateral AgentBank, may deem advisable.

Collection of Accounts; Segregation of Proceeds, Etc. Borrower Each Obligor covenants and agrees that, except to the extent that Agent’s or Collateral Agent’s the Holders’ exercise of its rights and remedies hereunder or under any other Loan Note Purchase Document shall prevent Borrower such Obligor from doing so, Borrower such Obligor will, at Borrowersuch Obligor’s sole expense, collect from the Account Debtor purchaser on each Account all amounts due thereon as and when the same shall become due; and in the event of any default by any Account Debtor purchaser justifying such action, Borrower such Obligor shall have the authority, at Borrowersuch Obligor’s sole expense, to repossess any merchandise covered by any such Account in accordance with the terms thereof and any applicable Law and to take such other action with respect to any such Account or the merchandise covered thereby as Borrowerthe Company, in the absence of instructions from Agent or Collateral Agentthe Required Holders, may deem advisable.