Collection of Collateral Payments. (a) The Pledgor shall, at its sole cost and expense, endeavor to obtain payment, when due and payable, of all sums due or to become due with respect to any Collateral ("Collateral Payments" or a "Collateral Payment"), including the taking of such action with respect thereto as the Collateral Agent may reasonably request or, in the absence of such request, as the Pledgor may reasonably deem advisable; provided that the Pledgor shall not, without the prior written consent of the Collateral Agent, grant or agree to any rebate, refund, compromise or extension with respect to any Collateral Payment. Upon the request of the Required Banks following the occurrence of an Event of Default, the Pledgor will notify and direct any party which is or might become obligated to make any Collateral Payment, to make payment thereof to the Collateral Agent (or to the Pledgor in care of the Collateral Agent) at such address as the Collateral Agent may designate. The Pledgor will reimburse the Collateral Agent promptly upon demand for all out-of-pocket costs and expenses, including reasonable attorneys' fees and litigation expenses, incurred by the Collateral Agent in seeking to collect any Collateral Payment.
Collection of Collateral Payments. (a) The Company shall, at its sole cost and expense, endeavor to obtain payment, when due and payable, of all sums due or to become due with respect to any Collateral (each such payment being referred to as a "Collateral Payment"), including, without limitation, the taking of such action with respect thereto as the Lender may request, or, in the absence of such request, as the Company may reasonably deem advisable; provided, however, that the Company shall not, without the prior written consent of the Lender, grant or agree to any rebate, refund, compromise or extension with respect to any Collateral Payment or accept any prepayment on account thereof. Upon the request of the Lender following the occurrence of an Event of Default (and subject to the requirements of applicable law), the Company will notify and direct any party who is or might become obligated to make any Collateral Payment, to make payment thereof to the Lender (or to the Company in care of the Lender) at such address as the Lender may designate. The Company will reimburse the Lender promptly upon demand for all out-of-pocket costs and expenses, including reasonable attorneys' fees and litigation expenses, incurred by the Lender in seeking to collect any Collateral Payment.
Collection of Collateral Payments. (a) Company shall, at its sole cost and expense, use commercially reasonable best efforts to obtain payment, when due and payable, of all sums due or to become due with respect to any Collateral ("Collateral Payments" or a "Collateral Payment"), including, without limitation, the taking of such action with respect thereto as the Lender may reasonably request, or, in the absence of such request, as Company may reasonably deem advisable; provided, however, that Company shall not, without the prior written consent of the Lender, grant or agree to any rebate, refund, compromise or extension with respect to any Collateral Payment or accept any prepayment on account thereof other than in the ordinary course of Company's business. Upon the request of the Lender made at any time following the occurrence and during the continuance of an Event of Default, Company will notify and direct any party who is or might become obligated to make any Collateral Payment, to make payment thereof to such accounts as the Lender may direct in writing and to execute all instruments and take all action required by the Lender to ensure the rights of the Lender in any Collateral subject to the Federal Assignment of Claims Act of 1940, as amended.
Collection of Collateral Payments. (a) The Company shall, at its sole cost and expense, use its best efforts to obtain payment, when due and payable, of all sums due or to become due with respect to any Collateral ("Collateral Payments" or a "Collateral Payment"), consistent with all requirements of law and contractual obligations binding upon the Company. Upon the request of the Collateral Agent while a Default exists, the Company will notify and direct any party who is or might become obligated to make any Collateral Payment, to make payment thereof to the Collateral Agent (or to the Company in care of the Collateral Agent) at such address as the Collateral Agent may designate. The Company will reimburse the Collateral Agent promptly upon demand for all out-of-pocket costs and expenses, including reasonable attorneys' fees and litigation expenses, incurred by the Collateral Agent in seeking to collect any Collateral Payment.
Collection of Collateral Payments. (a) Until the Administrative Agent gives notice to the Debtor pursuant to Paragraph 12(b) below or exercises the Administrative Agent's or the Secured Parties' rights under Paragraph 14 hereof, the Debtor shall be entitled to receive all collections on any and all of the Mortgage Notes, Mortgages and any documents related to the foregoing (hereinafter collectively called "Collections") and use the same in the normal course of business and in a manner consistent with the terms of this Security Agreement and the Credit Agreement. Upon notice from the Administrative Agent to the Debtor given after the occurrence and during the continuation of an Event of Default, the Debtor shall furnish to the Administrative Agent not later than the tenth Business Day after the end of each month a report on all Collections received during the preceding month and provide the same accounting therefor as the Debtor customarily furnishes the Investors therein, including with respect to Collections on each Mortgage Loan: (1) the name of the Obligor, (2) the Debtor's loan number for the Mortgage Loan, (3) current principal balance of the Mortgage Loan, (4) current escrow balance with respect to the Mortgage Loan, (5) number and amount of past due payments on the Mortgage Loan and (6) the amount of the Collections received during such month with respect to the Mortgage Loan, itemized to show (A) principal portion, (B) interest portion and (C) portion thereof representing amounts paid in escrow for real estate taxes and insurance.
Collection of Collateral Payments. (a) The Company or the applicable Borrowing Subsidiary shall, at its sole cost and expense, use its best efforts to obtain payment, when due and payable, of all sums due or to become due with respect to any Collateral ("Collateral Payments" or a "Collateral Payment"), consistent with all requirements of law and contractual obligations binding upon the Company or the applicable Borrowing Subsidiary. Upon the request of the Collateral Agent while an Event of Default exists, the Company or the applicable Borrowing Subsidiary will notify and direct any party who is or might become obligated to make any Collateral Payment, to make payment thereof to the Collateral Agent (or to the Company or the applicable Borrowing Subsidiary in care of the Collateral Agent) at such address as the Collateral Agent may designate. The Company will reimburse the Collateral Agent promptly upon demand for all out-of-pocket costs and expenses, including reasonable attorneys' fees and litigation expenses, incurred by the Collateral Agent in seeking to collect any Collateral Payment.
Collection of Collateral Payments. 8(a) Each Debtor shall, at its sole cost and expense, endeavor to obtain payment, when due and payable, of all sums due or to become due with respect to any Collateral ("Collateral Payments" or a "Collateral Payment"), including, without limitation, the taking of such action with respect thereto as the Collateral Agent or any Secured Party may reasonably request, or, in the absence of such request, as such Debtor may reasonably deem advisable; provided, however, that following the occurrence and during the continuance of an Event of Default such Debtor shall not, without the consent of the Collateral Agent, grant or agree to any rebate, refund, compromise or extension with respect to any Collateral Payment or accept any prepayment on account thereof. Upon the request of the Collateral Agent at the direction of all the Secured Parties, following the occurrence and during the continuance of an Event of Default and notice from the Collateral Agent to the Company, such Debtor will notify and direct any party who is or might become obligated to make any Collateral Payment, to make payment thereof to such accounts as the Collateral Agent may direct in writing and to execute all instruments and take all action required by the Collateral Agent to ensure the rights of the Collateral Agent for the benefit of the Secured Parties in any Collateral subject to the Federal Assignment of Claims Act of 1940, as amended. Collateral Agent) which may be received by such Debtor at any time as payment on account of any Collateral Payment and if such request shall be made, until delivery to the Collateral Agent, such items will be held in trust for the Collateral Agent and the Secured Parties and will not be commingled by such Debtor with any of its other funds or property. Thereafter, the Collateral Agent is hereby authorized and empowered to endorse the name of such Debtor on any check, draft or other instrument for the payment of money received by the Collateral Agent on account of any Collateral Payment if the Collateral Agent believes such endorsement is necessary or desirable for purposes of collection.
Collection of Collateral Payments. (a) Until Secured Party gives notice to Debtor pursuant to Paragraph 8(b) below or exercises the Secured Party’s rights under Paragraph 10 hereof, Debtor shall be entitled to receive all collections on any and all of the Mortgage Notes, Mortgages and any documents related to the foregoing (hereinafter collectively called “Collections”) and use the same in the normal course of business. Upon notice from Secured Party to Debtor given after the occurrence and during the continuation of an Event of Default, Debtor shall furnish to Secured Party not later than the tenth Business Day after the end of each month a report on all Collections received during the preceding month and provide the same accounting therefor as Debtor customarily furnishes the Investors therein, including with respect to Collections on each Mortgage Loan: (1) the name of the Obligor, (2) Debtor’s loan number for the Mortgage Loan, (3) current principal balance of the Mortgage Loan, (4) current escrow balance with respect to the Mortgage Loan, (5) number and amount of past due payments on the Mortgage Loan and (6) the amount of the Collections received during such month with respect to the Mortgage Loan, itemized to show (A) principal portion, (B) interest portion and (C) portion thereof representing amounts paid in escrow for real estate taxes and insurance.
Collection of Collateral Payments. (a) Until there shall occur an Event of Default or Potential Default, Debtor shall, at its sole cost and expense, endeavor to obtain payment, when due and payable, of all sums due or to become due with respect to any Collateral ("Collateral Payments" or a "Collateral Payment"), including, without limitation, the taking of such action with respect thereto as Secured Party may request, or, in the absence of such request, as Debtor may reasonably deem advisable; provided, however, that Debtor shall not, without the prior written consent of Secured Party, grant or agree to any rebate, refund, compromise, or extension with respect to any Collateral Payment or accept any prepayment on account thereof. After an Event of Default or Potential Default, upon the request of Secured Party, Debtor will, or Secured Party in its absolute discretion may, notify and direct any party who is or might become obligated to make any Collateral Payment, to make payment thereof to Secured Party (or to Debtor in care of Secured Party) at such address as Secured Party may designate. Debtor will reimburse Secured Party promptly upon demand for all out-of-pocket costs and expenses, including reasonable attorneys' fees and litigation expenses, incurred by Secured Party in seeking to collect any Collateral Payment.
Collection of Collateral Payments. 8(a) Each Debtor shall, at its sole cost and expense, endeavor to obtain payment, when due and payable, of all sums due or to become due with respect to any Collateral ("Collateral Payments" or a "Collateral Payment"), including, without limitation, the taking of such action with respect thereto as the Agent or any Secured Party may reasonably request, or, in the absence of such request, as such Debtor may reasonably deem advisable; provided, however, that such Debtor shall not, without the prior written consent of the Agent and the Secured Parties, grant or agree to any rebate, refund, compromise or extension with respect to any Collateral Payment or accept any prepayment on account thereof. Upon the request of the Agent at the direction of all the Secured Parties, such Debtor will notify and direct any party who is or might become obligated to make any Collateral Payment, to make payment thereof to such accounts as the Agent may direct in writing and to execute all instruments and take all action required by the Agent to ensure the rights of the Agent for the benefit of the Secured Parties in any Collateral subject to the Federal Assignment of Claims Act of 1940, as amended.
