Collection of Receivables Collateral. Borrower will undertake or cause the Servicing Agent to undertake the diligent and timely collection of amounts delinquent under each Note Receivable which constitutes part of the Collateral and will bear the entire expense of such collection. Lender shall have no obligation to undertake any action to collect under any Note Receivable.
Appears in 3 contracts
Samples: Loan and Security Agreement (BBX Capital Corp), Loan and Security Agreement (BFC Financial Corp), Loan and Security Agreement (Bluegreen Corp)
Collection of Receivables Collateral. Borrower will undertake or cause the Servicing Agent to undertake the diligent and timely collection of amounts delinquent under each Note Receivable which constitutes part of the Collateral in the manner set forth in the Servicing Agreement and will bear the entire expense of such collection. Lender shall have no obligation to undertake any action to collect under any Note Receivable..
Appears in 2 contracts
Samples: Loan and Security Agreement (Bluegreen Vacations Holding Corp), Loan and Security Agreement (Bluegreen Vacations Corp)
Collection of Receivables Collateral. Borrower will undertake or cause the Servicing Agent to undertake the diligent and timely collection of amounts delinquent under each Note Receivable which constitutes part of the Collateral and will bear the entire expense of such collection. Lender shall have no obligation to undertake any action to collect under any Note Receivable..
Appears in 1 contract
