Collection of Receivables Collateral. Borrower will undertake the diligent and timely collection of amounts delinquent under each Instrument which constitutes part of the Receivables Collateral and will bear the entire expense of such collection. Lender shall have no obligation to undertake any action to collect under any Instrument.
Appears in 2 contracts
Samples: Development and Receivables Loan and Security Agreement (Signature Resorts Inc), Loan Agreement (Raintree Resorts International Inc)
Collection of Receivables Collateral. Borrower will undertake the diligent diligent, timely and timely commercially reasonable collection of amounts delinquent under each Instrument which constitutes part of the Receivables Collateral and will bear the entire expense of such collection. Lender shall have no obligation to undertake any action to collect under any Instrument.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cr Resorts Capital S De R L De C V), Loan and Security Agreement (Cr Resorts Capital S De R L De C V)
Collection of Receivables Collateral. Borrower will undertake the diligent diligent, timely and timely commercially reasonable collection of amounts delinquent under each Instrument which constitutes part of the Receivables Collateral and under each Purchase Contract and Reservation Agreement which constitute part of the Working Capital Loan Collateral and will bear the entire expense of such collection. Lender shall have no obligation to undertake any action to collect under any Instrument.
Appears in 1 contract
Samples: Loan and Security Agreement (Cr Resorts Capital S De R L De C V)
