Common use of Collection Of Receivables By Lender Clause in Contracts

Collection Of Receivables By Lender. The LENDER shall have the right during any continuing DEFAULT or EVENT OF DEFAULT to send notices of assignment or notices of the LENDER’S security interest to any and all ACCOUNT DEBTORS or any third party holding or otherwise concerned with any of the COLLATERAL, and thereafter the LENDER shall have the sole right to collect the RECEIVABLES and to take possession of the COLLATERAL and RECORDS relating thereto. All of the LENDER’S collection expenses shall be charged to the BORROWERS’ accounts and added to the OBLIGATIONS. During any continuing DEFAULT or EVENT OF DEFAULT the LENDER shall have the right to receive, indorse, assign and deliver in the LENDER’S name or the name of any of the BORROWERS any and all checks, drafts and other instruments for the payment of money relating to the RECEIVABLES, and each of the BORROWERS hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If the LENDER is collecting the RECEIVABLES, each of the BORROWERS hereby constitutes the LENDER or the LENDER’S designee as its attorney-in-fact with power with respect to the RECEIVABLES: (a) to indorse its name upon all notes, acceptances, checks, drafts, money orders or other evidences of payment of COLLATERAL that may come into the LENDER’S possession; (b) to sign its name on any invoices relating to any of the RECEIVABLES, drafts against ACCOUNT DEBTORS, assignments and verifications of RECEIVABLES and notices to ACCOUNT DEBTORS; (c) to send verifications of RECEIVABLES to any ACCOUNT DEBTOR; (d) to notify the Post Office to change the address for delivery of mail addressed to it to such address as the LENDER may designate; (e) to receive and open all mail addressed to it and to remove therefrom all cash, checks, drafts and other payments of money; and (f) to do all other acts and things necessary, proper, or convenient to carry out the terms and conditions and purposes and intent of this AGREEMENT. All acts of such attorney or designee are hereby ratified and approved, and such attorney or designee shall not be liable for any acts of omission or commission, nor for any error of judgment or mistake of fact or law in accordance with this AGREEMENT, with the exception of acts arising from actual fraud or gross and wanton negligence. The power of attorney hereby granted, being coupled with an interest, is irrevocable while any of the OBLIGATIONS remain unpaid. The LENDER, without notice to or consent from any of the BORROWERS, may xxx upon or otherwise collect, extend the time of payment of or compromise or settle for cash, credit or otherwise upon any terms, any of the RECEIVABLES or any securities, instruments or insurances applicable thereto or release the obligor thereon. The LENDER is authorized and empowered to accept the return of the goods represented by any of the RECEIVABLES, without notice to or consent by any of the BORROWERS, all without discharging or in any way affecting the liability of any of the BORROWERS under the LOAN DOCUMENTS. The LENDER does not, by anything herein or in any assignment or otherwise, assume any of the obligations of any of the BORROWERS under any contract or agreement assigned to the LENDER, and the LENDER shall not be responsible in any way for the performance by any of the BORROWERS of any of the terms and conditions thereof.

Collection Of Receivables By Lender. The LENDER shall have the right during any continuing DEFAULT or EVENT OF DEFAULT to send notices of assignment or notices of the LENDER’S 'S security interest to any and all ACCOUNT DEBTORS or any third party holding or otherwise concerned with any of the COLLATERAL, and thereafter the LENDER shall have the sole right to collect the RECEIVABLES and to take possession of the COLLATERAL and RECORDS relating thereto. All of the LENDER’S 'S collection expenses shall be charged to the BORROWERS’ BORROWER'S accounts and added to the OBLIGATIONS. During any continuing DEFAULT or EVENT OF DEFAULT the LENDER shall have the right to receive, indorse, assign and deliver in the LENDER’S 'S name or the BORROWER'S name of any of the BORROWERS any and all checks, drafts and other instruments for the payment of money relating to the RECEIVABLES, and each of the BORROWERS BORROWER hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If the LENDER is collecting the RECEIVABLES, each of the BORROWERS BORROWER hereby constitutes the LENDER or the LENDER’S 'S designee as its attorney-in-fact with power with respect to the RECEIVABLES: (a) to indorse its name upon all notes, acceptances, checks, drafts, money orders or other evidences of payment of COLLATERAL that may come into the LENDER’S 'S possession; (b) to sign its name on any invoices relating to any of the RECEIVABLES, drafts against ACCOUNT DEBTORS, assignments and verifications of RECEIVABLES and notices to ACCOUNT DEBTORS; (c) to send verifications of RECEIVABLES to any ACCOUNT DEBTOR; (d) to notify the Post Office to change the address for delivery of mail addressed to it to such address as the LENDER may designate; (e) to receive and open all mail addressed to it and to remove therefrom all cash, checks, drafts and other payments of money; and (f) to do all other acts and things necessary, proper, or convenient to carry out the terms and conditions and purposes and intent of this AGREEMENT. All acts of such attorney or designee are hereby ratified and approved, and such attorney or designee shall not be liable for any acts of omission or commission, nor for any error of judgment or mistake of fact or law in accordance with this AGREEMENT, with the exception of acts arising from actual fraud or gross and wanton negligence. The power of attorney hereby granted, being coupled with an interest, is irrevocable while any of the OBLIGATIONS remain unpaid. The LENDER, without notice to or consent from any of the BORROWERSBORROWER, may xxx sue upon or otherwise collect, extend the time of payment of or compromise comxxxmise or settle for cash, credit or otherwise upon any terms, any of the RECEIVABLES or any securities, instruments or insurances applicable thereto or release the obligor thereon. The LENDER is authorized and empowered to accept the return of the goods represented by any of the RECEIVABLES, without notice to or consent by any of the BORROWERSBORROWER, all without discharging or in any way affecting the liability of any of the BORROWERS BORROWER under the LOAN DOCUMENTS. The LENDER does not, by anything herein or in any assignment or otherwise, assume any of the obligations of any of the BORROWERS BORROWER under any contract or agreement assigned to the LENDER, and the LENDER shall not be responsible in any way for the performance by any of the BORROWERS BORROWER of any of the terms and conditions thereof.

Collection Of Receivables By Lender. The LENDER shall have the right during any continuing DEFAULT or EVENT OF DEFAULT to send notices of assignment or notices of the LENDER’S LENDERS security interest to any and all ACCOUNT DEBTORS or any third party holding or otherwise concerned with any of the COLLATERAL, and thereafter the LENDER shall have the sole right to collect the RECEIVABLES and to take possession of the COLLATERAL and RECORDS relating thereto. All of the LENDER’S LENDERS collection expenses shall be charged to the BORROWERS’ BORROWERS accounts and added to the OBLIGATIONS. During any continuing DEFAULT or EVENT OF DEFAULT the LENDER shall have the right to receive, indorse, assign and deliver in the LENDER’S LENDERS name or the name of any of the BORROWERS name any and all checks, drafts and other instruments for the payment of money relating to the RECEIVABLES, and each of the BORROWERS hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If the LENDER is collecting the RECEIVABLES, each of the BORROWERS hereby constitutes the LENDER or the LENDER’S LENDERS designee as its attorney-in-fact with power with respect to the RECEIVABLES: (a) to indorse its name upon all notes, acceptances, checks, drafts, money orders or other evidences of payment of COLLATERAL that may come into the LENDER’S LENDERS possession; (b) to sign its name on any invoices relating to any of the RECEIVABLES, drafts against ACCOUNT DEBTORS, assignments and verifications of RECEIVABLES and notices to ACCOUNT DEBTORS; (c) to send verifications of RECEIVABLES to any ACCOUNT DEBTOR; (d) to notify the Post Office to change the address for delivery of mail addressed to it to such address as the LENDER may designate; (e) to receive and open all mail addressed to it and to remove therefrom all cash, checks, drafts and other payments of money; and (f) to do all other acts and things necessary, proper, or convenient to carry out the terms and conditions and purposes and intent of this AGREEMENT. All acts of such attorney or designee are hereby ratified and approved, and such attorney or designee shall not be liable for any acts of omission or commission, nor for any error of judgment or mistake of fact or law in accordance with this AGREEMENT, with the exception of acts arising from actual fraud or gross and wanton negligence. The power of attorney hereby granted, being coupled with an interest, is irrevocable while any of the OBLIGATIONS remain unpaid. The During any continuing EVENT OF DEFAULT, the LENDER, without notice to or consent from any of the BORROWERS, may xxx upon or otherwise collect, extend the time of payment of or compromise or settle for cash, credit or otherwise upon any terms, any of the RECEIVABLES or any securities, instruments or insurances applicable thereto or release the obligor thereon. The During any continuing EVENT OF DEFAULT, the LENDER is authorized and empowered to accept the return of the goods represented by any of the RECEIVABLES, without notice to or consent by any of the BORROWERS; provided, all without discharging however in no event (whether during the continuance of an EVENT OF DEFAULT or otherwise) shall acceptance of returned goods by the LENDER discharge or in any way affecting affect the liability of any of the BORROWERS under the LOAN DOCUMENTS. The LENDER does not, by anything herein or in any assignment or otherwise, assume any of the obligations of any of the BORROWERS under any contract or agreement assigned to the LENDER, and the LENDER shall not be responsible in any way for the performance by any of the BORROWERS of any of the terms and conditions thereof.

Collection Of Receivables By Lender. The LENDER, at any time or from time to time, after the occurrence of a violation of the terms of Section 4.5 hereof or after the occurrence of an EVENT OF DEFAULT, may terminate the BORROWER'S authority to collect the RECEIVABLES. Upon a termination of the BORROWER'S authority, the LENDER shall have the right during any continuing DEFAULT or EVENT OF DEFAULT to send notices of assignment or notices of the LENDER’S 'S security interest to any and all ACCOUNT DEBTORS or any third party holding or otherwise concerned with any of the COLLATERAL, and thereafter the LENDER shall have the sole right to collect the RECEIVABLES and to take possession of the COLLATERAL and RECORDS relating thereto. All of the LENDER’S 'S collection expenses shall be charged to the BORROWERS’ accounts BORROWER'S account and added to the OBLIGATIONS. During any continuing DEFAULT or EVENT OF DEFAULT If the LENDER is collecting the RECEIVABLES as above provided, the LENDER shall have the right to receive, indorse, assign and deliver in the LENDER’S 'S name or the BORROWER'S name of any of the BORROWERS any and all checks, drafts and other instruments for the payment of money relating to the RECEIVABLES, and each of the BORROWERS BORROWER hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If the LENDER is collecting the RECEIVABLESRECEIVABLES directly as above provided, each of the BORROWERS BORROWER hereby constitutes the LENDER or the LENDER’S 'S designee as its the BORROWER'S attorney-in-fact with power with respect to the RECEIVABLES: (a) to indorse its the BORROWER'S name upon all notes, acceptances, checks, drafts, money orders or other evidences of payment of COLLATERAL that may come into the LENDER’S 'S possession; (b) to sign its the BORROWER'S name on any invoices relating to any of the RECEIVABLES, drafts against ACCOUNT DEBTORS, assignments and verifications of RECEIVABLES and notices to ACCOUNT DEBTORS; (c) to send verifications of RECEIVABLES to any ACCOUNT DEBTOR; (d) to notify the Post Office to change the address for delivery of mail addressed to it the BORROWER to such address as the LENDER may designate; (e) to receive and open all the BORROWER's mail addressed to it and to remove therefrom all cash, checks, drafts and other items of payments of moneyon RECEIVABLES contained therein (the LENDER shall use its best efforts to forward to the BORROWER all remaining mail on each banking day); and (f) to do all other acts and things necessary, proper, or convenient to carry out the terms and conditions and purposes and intent of this AGREEMENT. All acts of such attorney or designee are hereby ratified and approved, and such attorney or designee shall not be liable for any acts of omission or commission, nor for any error of judgment or mistake of fact or law in accordance with this AGREEMENT, with the exception of acts arising from actual fraud or gross and wanton negligence. The power of attorney hereby granted, being coupled with an interest, is irrevocable while any of the OBLIGATIONS remain unpaid. The LENDER, without notice to or consent from any of the BORROWERSBORROWER, may xxx upon or otherwise collect, extend the time of payment of or compromise or settle for cash, credit or otherwise upon any terms, any of the RECEIVABLES or any securities, instruments or insurances applicable thereto or release the obligor thereon. The LENDER is authorized and empowered to accept the return of the goods represented by any of the RECEIVABLES, without notice to or consent by any of the BORROWERSBORROWER, all without discharging or in any way affecting the BORROWER'S liability of any of the BORROWERS under the LOAN DOCUMENTS. The LENDER does not, by anything herein or in any assignment or otherwise, assume any of the BORROWER'S obligations of any of the BORROWERS under any contract or agreement assigned to the LENDER, and the LENDER shall not be responsible in any way for the performance by any of the BORROWERS BORROWER of any of the terms and conditions thereof.

Collection Of Receivables By Lender. The LENDER shall have the right during any continuing DEFAULT or EVENT OF DEFAULT to send notices of assignment or notices of the LENDER’S =S security interest to any and all ACCOUNT DEBTORS or any third party holding or otherwise concerned with any of the COLLATERAL, and thereafter the LENDER shall have the sole right to collect the RECEIVABLES and to take possession of the COLLATERAL and RECORDS relating thereto. All of the LENDER’S =S collection expenses shall be charged to the BORROWERS’ ' accounts and added to the OBLIGATIONS. During any continuing DEFAULT or EVENT OF DEFAULT the LENDER shall have the right to receive, indorse, assign and deliver in the LENDER’S =S name or the name of any either of the BORROWERS BORROWER'S name any and all checks, drafts and other instruments for the payment of money relating to the RECEIVABLES, and each of the BORROWERS hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If the LENDER is collecting the RECEIVABLES, each of the BORROWERS hereby constitutes the LENDER or the LENDER’S =S designee as its attorney-in-fact with power with respect to the RECEIVABLES: (a) to indorse its name upon all notes, acceptances, checks, drafts, money orders or other evidences of payment of COLLATERAL that may come into the LENDER’S =S possession; (b) to sign its name on any invoices relating to any of the RECEIVABLES, drafts against ACCOUNT DEBTORS, assignments and verifications of RECEIVABLES and notices to ACCOUNT DEBTORS; (c) to send verifications of RECEIVABLES to any ACCOUNT DEBTOR; (d) to notify the Post Office to change the address for delivery of mail addressed to it to such address as the LENDER may designate; (e) to receive and open all mail addressed to it and to remove therefrom all cash, checks, drafts and other payments of money; and (f) to do all other acts and things necessary, proper, or convenient to carry out the terms and conditions and purposes and intent of this AGREEMENT. All acts of such attorney or designee are hereby ratified and approved, and such attorney or designee shall not be liable for any acts of omission or commission, nor for any error of judgment or mistake of fact or law in accordance with this AGREEMENT, with the exception of acts arising from actual fraud or gross and wanton negligence. The power of attorney hereby granted, being coupled with an interest, is irrevocable while any of the OBLIGATIONS remain unpaid. The If the LENDER is collecting RECEIVABLES in accordance with the terms of this Section, the LENDER, without notice to or consent from any either of the BORROWERS, may xxx upon or otherwise collect, extend the time of payment of or compromise or settle for cash, credit or otherwise upon any terms, any of the RECEIVABLES or any securities, instruments or insurances applicable thereto or release the obligor thereon. The If the LENDER is collecting RECEIVABLES in accordance with the terms of this Section, the LENDER is authorized and empowered to accept the return of the goods represented by any of the RECEIVABLES, without notice to or consent by any either of the BORROWERS, all without discharging or in any way affecting the liability of any either of the BORROWERS under the LOAN DOCUMENTS. The LENDER does not, by anything herein or in any assignment or otherwise, assume any of the obligations of any either of the BORROWERS under any contract or agreement assigned to the LENDER, and the LENDER shall not be responsible in any way for the performance by any either of the BORROWERS of any of the terms and conditions thereof.

Collection Of Receivables By Lender. The LENDER, at any time or from time to time after an EVENT OF DEFAULT, may terminate the BORROWER'S authority to collect the RECEIVABLES. Upon a termination of the BORROWER'S authority, the LENDER shall have the right during any continuing DEFAULT or EVENT OF DEFAULT to send notices of assignment or notices of the LENDER’S 'S security interest to any and all ACCOUNT DEBTORS CUSTOMERS or any third party holding or otherwise concerned with any of the COLLATERAL, and thereafter the LENDER shall have the sole right to collect the RECEIVABLES and to take possession of the COLLATERAL and RECORDS relating thereto. All of the LENDER’S 'S collection expenses shall be charged to the BORROWERS’ accounts BORROWER'S account and added to the OBLIGATIONS. During any continuing DEFAULT or EVENT OF DEFAULT If the LENDER is collecting the RECEIVABLES as above provided, the LENDER shall have the right to receive, indorse, assign and deliver in the LENDER’S 'S name or the BORROWER'S name of any of the BORROWERS any and all checks, drafts and other instruments for the payment of money relating to the RECEIVABLES, and each of the BORROWERS BORROWER hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If the LENDER is collecting the RECEIVABLESRECEIVABLES directly as above provided, each of the BORROWERS BORROWER hereby constitutes the LENDER or the LENDER’S 'S designee as its the BORROWER'S attorney-in-fact with power with respect to the RECEIVABLES: (a) to indorse its the BORROWER'S name upon all notes, acceptances, checks, drafts, money orders or other evidences of payment of COLLATERAL that may come into the LENDER’S 'S possession; (b) to sign its the BORROWER'S name on any invoices relating to any of the RECEIVABLES, drafts against ACCOUNT DEBTORSCUSTOMERS, assignments and verifications of RECEIVABLES and notices to ACCOUNT DEBTORSCUSTOMERS; (c) to send verifications of RECEIVABLES to any ACCOUNT DEBTORCUSTOMER; (d) to notify the Post Office to change the address for delivery of mail addressed to it the BORROWER to such address as the LENDER may designate; (e) to receive receive, open, and open dispose of all mail addressed to it and to remove therefrom all cash, checks, drafts and other payments of moneythe BORROWER; and (f) to do all other acts and things necessary, proper, or convenient to carry out the terms and conditions and purposes and intent of this AGREEMENT. All acts of such attorney or designee are hereby ratified and approved, and such attorney or designee shall not be liable for any acts of omission or commission, nor for any error of judgment or mistake of fact or law in accordance with this AGREEMENT, with the exception of acts arising from actual fraud or gross and wanton negligence. The power of attorney hereby granted, being coupled with an interest, is irrevocable while any of the OBLIGATIONS remain unpaid. The If the LENDER is collecting the RECEIVABLES pursuant to the terms of this Section, the LENDER, without notice to or consent from any of the BORROWERSBORROWER, may xxx upon or otherwise collect, extend the time of payment of or compromise or settle for cash, credit or otherwise upon any terms, any of the RECEIVABLES or any securities, instruments or insurances applicable thereto or release the obligor thereon. The LENDER is authorized and empowered to accept the return of the goods represented by any of the RECEIVABLES, without notice to or consent by any of the BORROWERSBORROWER, all without discharging or in any way affecting the BORROWER'S liability of any of the BORROWERS under the LOAN DOCUMENTS. The LENDER does not, by anything herein or in any assignment or otherwise, assume any of the BORROWER'S obligations of any of the BORROWERS under any contract or agreement assigned to the LENDER, and the LENDER shall not be responsible in any way for the performance by any of the BORROWERS BORROWER of any of the terms and conditions thereof.

Collection Of Receivables By Lender. The LENDER Lender shall have the right during any continuing DEFAULT or EVENT OF DEFAULT Event of Default to send notices of assignment or notices of the LENDER’S Lender’s security interest to any and all ACCOUNT DEBTORS Account Debtors or any third party holding or otherwise concerned with any of the COLLATERALCollateral, and thereafter the LENDER Lender shall have the sole right to collect the RECEIVABLES Receivables and to take possession of the COLLATERAL Collateral and RECORDS Records relating thereto. All of the LENDER’S Lender’s collection expenses shall be charged to the BORROWERS’ Borrower’s accounts and added to the OBLIGATIONSObligations. During any continuing DEFAULT or EVENT OF DEFAULT Event of Default the LENDER Lender shall have the right to receive, indorse, assign and deliver in the LENDER’S Lender’s name or the Borrower’s name of any of the BORROWERS any and all checks, drafts and other instruments for the payment of money relating to the RECEIVABLESReceivables, and each of the BORROWERS Borrower hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If the LENDER Lender is collecting the RECEIVABLESReceivables, each of the BORROWERS Borrower hereby constitutes the LENDER Lender or the LENDER’S Lender’s designee as its attorney-in-fact with power with respect to the RECEIVABLESReceivables: (a) to indorse its name upon all notes, acceptances, checks, drafts, money orders or other evidences of payment of COLLATERAL Collateral that may come into the LENDER’S Lender’s possession; (b) to sign its name on any invoices relating to any of the RECEIVABLESReceivables, drafts against ACCOUNT DEBTORSAccount Debtors, assignments and verifications of RECEIVABLES Receivables and notices to ACCOUNT DEBTORSAccount Debtors; (c) to send verifications of RECEIVABLES Receivables to any ACCOUNT DEBTORAccount Debtor; (d) to notify the Post Office to change the address for delivery of mail addressed to it to such address as the LENDER Lender may designate; (e) to receive and open all mail addressed to it and to remove therefrom all cash, checks, drafts and other payments of money; and (f) to do all other acts and things necessary, proper, or convenient to carry out the terms and conditions and purposes and intent of this AGREEMENTAgreement. All acts of such attorney or designee are hereby ratified and approved, and such attorney or designee shall not be liable for any acts of omission or commission, nor for any error of judgment or mistake of fact or law in accordance with this AGREEMENTAgreement, with the exception of acts arising from actual fraud willful misconduct of the Lender or gross and wanton negligencenegligence of the Lender. The power of attorney hereby granted, being coupled with an interest, is irrevocable while any of the OBLIGATIONS Obligations remain unpaid. The LENDERLender, without notice to or consent from any of the BORROWERSBorrower, may xxx sxx upon or otherwise collect, extend the time of payment of or compromise or settle for cash, credit or otherwise upon any terms, any of the RECEIVABLES Receivables or any securities, instruments or insurances applicable thereto or release the obligor thereon. The LENDER Lender is authorized and empowered to accept the return of the goods represented by any of the RECEIVABLESReceivables, without notice to or consent by any of the BORROWERSBorrower, all without discharging or in any way affecting the liability of any of the BORROWERS Borrower under the LOAN DOCUMENTSLoan Documents. The LENDER Lender does not, by anything herein or in any assignment or otherwise, assume any of the obligations of any of the BORROWERS Borrower under any contract or agreement assigned to the LENDERLender, and the LENDER Lender shall not be responsible in any way for the performance by any of the BORROWERS Borrower of any of the terms and conditions thereof.

Collection Of Receivables By Lender. The LENDER shall have the right during any continuing DEFAULT or EVENT OF DEFAULT to send notices of assignment or notices of the LENDER’S 'S security interest to any and all ACCOUNT DEBTORS or any third party holding or otherwise concerned with any of the COLLATERAL, and thereafter the LENDER shall have the sole right to collect the RECEIVABLES and to take possession of the COLLATERAL and RECORDS relating thereto. All of the LENDER’S 'S collection expenses shall be charged to the BORROWERS’ BORROWER'S accounts and added to the OBLIGATIONS. During any continuing DEFAULT or EVENT OF DEFAULT the LENDER shall have the right to receive, indorse, assign and deliver in the LENDER’S 'S name or the BORROWER'S name of any of the BORROWERS any and all checks, drafts and other instruments for the payment of money relating to the RECEIVABLES, and each of the BORROWERS BORROWER hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If the LENDER is collecting the RECEIVABLES, each of the BORROWERS BORROWER hereby constitutes the LENDER or the LENDER’S 'S designee as its attorney-in-fact with power with respect to the RECEIVABLES: (a) to indorse its name upon all notes, acceptances, checks, drafts, money orders or other evidences of payment of COLLATERAL that may come into the LENDER’S 'S possession; (b) to sign its name on any invoices relating to any of the RECEIVABLES, drafts against ACCOUNT DEBTORS, assignments and verifications of RECEIVABLES and notices to ACCOUNT DEBTORS; (c) to send verifications of RECEIVABLES to any ACCOUNT DEBTOR; (d) to notify the Post Office to change the address for delivery of mail addressed to it to such address as the LENDER may designate; (e) to receive and open all mail addressed to it and to remove therefrom all cash, checks, drafts and other payments of money; and (f) to do all other acts and things reasonably necessary, proper, or convenient to carry out the terms and conditions and purposes and intent of this AGREEMENT. All acts of such attorney or designee are hereby ratified and approved, and such attorney or designee shall not be liable for any acts of omission or commission, nor for any error of judgment or mistake of fact or law in accordance with this AGREEMENT, with the exception of acts arising from actual fraud fraud, wilful or wanton misconduct or gross and wanton negligence. The power of attorney hereby granted, being coupled with an interest, is irrevocable while any of the OBLIGATIONS remain unpaid. The LENDER, without notice to or consent from any of the BORROWERSBORROWER, may xxx upon or otherwise collect, extend the time of payment of or compromise or settle for cash, credit or otherwise upon any terms, any of the RECEIVABLES or any securities, instruments or insurances applicable thereto or release the obligor thereon. The LENDER is authorized and empowered to accept the return of the goods represented by any of the RECEIVABLES, without notice to or consent by any of the BORROWERSBORROWER, all without discharging or in any way affecting the liability of any of the BORROWERS BORROWER under the LOAN DOCUMENTS. The LENDER does not, by anything herein or in any assignment or otherwise, assume any of the obligations of any of the BORROWERS BORROWER under any contract or agreement assigned to the LENDER, and the LENDER shall not be responsible in any way for the performance by any of the BORROWERS BORROWER of any of the terms and conditions thereof.