Common use of COLLECTION OF INCOME AND PRINCIPAL Clause in Contracts

COLLECTION OF INCOME AND PRINCIPAL. The Securities Intermediary shall collect income and principal becoming due on the assets in the Securities Account, but shall be under no responsibility or duty to undertake collection efforts or to instigate or participate in any legal proceedings or to retain counsel in an effort to accomplish such collection. The Securities Intermediary shall advise the Owner and the Trustee within a reasonable time of any non-payment of principal or income. Any income received shall be disposed of as set forth in the Pledge Agreement and the Disbursement Agreement.

COLLECTION OF INCOME AND PRINCIPAL. The Securities Intermediary shall collect income and principal becoming due on the assets in the Securities AccountAccounts, but shall be under no responsibility or duty to undertake collection efforts or to instigate or participate in any legal proceedings or to retain counsel in an effort to accomplish such collection. The Securities Intermediary shall advise the Owner and the Trustee Lender within a reasonable time of any non-payment of principal or income. Any income received shall be disposed of as set forth in the Hyatt Gaming Pledge and Assignment Agreement and the Disbursement Agreement.

COLLECTION OF INCOME AND PRINCIPAL. The Securities Intermediary shall collect income and principal becoming due on the assets in the Securities AccountAccounts, but shall be under no responsibility or duty to undertake collection efforts or to instigate or participate in any legal proceedings or to retain counsel in an effort to accomplish such collection. The Securities Intermediary shall advise the Owner and the Trustee within a reasonable time of any non-payment of principal or income. Any income received shall be disposed of as set forth in the Pledge Agreement and the Disbursement Agreement.