Common use of Collection of Collateral Payments Clause in Contracts

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) 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 thereofPayment. Upon the request of the Lender following the occurrence and during the continuance 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) 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 Collateral Agent 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 LenderCollateral 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 Lender Collateral Agent 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 Collateral Agent (or to the Company in care of the LenderCollateral Agent) at such address as the Lender Collateral Agent may designate. The Company will reimburse the Lender Collateral Agent promptly upon demand for all out-of-pocket costs and expenses, including reasonable attorneys' fees and litigation expenses, incurred by the Lender Collateral Agent in seeking to collect any Collateral Payment.

Collection of Collateral Payments. (a) The Company Each of the Grantors 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 "COLLATERAL PAYMENTS" or a "Collateral PaymentCOLLATERAL PAYMENT"), including, without limitation, the taking of such action with respect thereto as the Lender Collateral Agent may reasonably request, or, in the absence of such request, as the Company such Grantor may reasonably deem advisable; provided, however, provided that the Company shall notneither Grantor shall, without the prior written consent of the LenderAgent, grant or agree to any rebate, refund, compromise or extension with respect to any Collateral Payment or accept any prepayment on account thereofPayment. Upon the request of the Lender Required Lenders following the occurrence of an Event of Default (and subject to Default, each of the requirements of applicable law), the Company will Grantors shall notify and direct any party who is or might become obligated to make any Collateral PaymentPayment with respect to the Collateral, to make payment thereof to the Lender (or to the Company in care of the Lender) Collateral Agent at such address as the Lender Collateral Agent may designate. The Company Grantors will reimburse the Lender Collateral Agent promptly upon demand for all out-of-pocket costs and expenses, including reasonable attorneys' fees and litigation expenses, actually incurred by the Lender Collateral Agent in seeking to collect any Collateral Payment.