Collection of Retained Receivables Sample Clauses

Collection of Retained Receivables. Except as otherwise provided in this Security Agreement, the Grantor will collect and enforce, at the Grantor’s sole expense, all amounts due or hereafter due to the Grantor under the Retained Receivables.
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Collection of Retained Receivables. Sub shall, as agent for Parent, have the sole and exclusive right to collect the Retained Receivables in accordance with Parent's normal collection processes and procedures. So long as the Retained Receivables are the obligation of Sub, neither Parent nor its agents shall make any solicitation for collection purposes nor institute litigation for the collection of any amounts due thereunder, except for such Retained Receivables which Sub has consented to Parent's collection thereof. All payments received by Sub in respect of the Retained Receivables shall be for Parent's account. Sub shall remit to Parent within fifteen (15) days of the end of each calendar month any and all amounts received by Sub in respect of the Retained Receivables, together with a written report for such month specifying the amounts paid and the Person from whom payment was made, as well as any other supporting documentation reasonably requested by Parent. The payment by an account debtor shall be applied to the Retained Receivable of such account debtor in inverse order of aging, commencing with the oldest invoice, unless the account debtor's payment specifically identifies the Retained Receivable for which such payment is being made provided, however, to the extent the Retained Receivables with respect to any particular contract of an account debtor represent, as of the Effective Date, a portion of the aggregate Receivables with respect to such contract, then upon receipt of amounts by Sub from such account debtor in respect of the Receivables as of the Effective Date, the remittance to Parent shall be in proportion to the relative amount of Retained Receivables to all Receivables under such contract as of the Effective Date. Notwithstanding the foregoing, nothing contained in this Section 7.7 shall be construed to grant Parent any right with respect to any receivables accrued in connection with Sub's operation of the Sub Business on or after the Effective Date. To the extent that Parent has received, prior to the Effective Date, payments from clients in respect of services to be performed by Sub after the Effective Date, Parent shall retain such advance payments, and, after the Effective Date Parent shall remit to Sub within fifteen (15) days of the end of each calendar month any and all amounts from such retained advance payments in respect of services performed by Sub during such calendar month.
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Collection of Retained Receivables. (a) On or before the Closing Date, the Grantor shall execute and deliver to the Administrative Agent a Deposit Account Control Agreement for account number 000000000000, in the name of the Grantor maintained by the Grantor at U.S. Bank National Association (such account, or such other accounts as are reasonably acceptable to the Administrative Agent, the “Merchant Deposit Account”), which Merchant Deposit Account is identified as such on Exhibit B. The Grantor shall cause to be deposited in that Merchant Deposit Account on each Business Day all proceeds of Collateral other than proceeds of Sales Receivables, Servicing
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Collection of Retained Receivables. (a) On or before the Fourth Amendment Effective Date, the Grantor shall execute and deliver to the Subordinated Collateral Agent a Deposit Account Control Agreement for account number 000000000000, in the name of the Grantor maintained by the Grantor at U.S. Bank National Association (such account, or such other accounts as are reasonably acceptable to the Subordinated Collateral Agent, the “Merchant Deposit Account”), which Merchant Deposit Account is identified as such on Exhibit B. The Grantor shall cause to be deposited in that Merchant Deposit Account on each Business Day all proceeds of Collateral other than proceeds of Sales Receivables and Servicing
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Collection of Retained Receivables. (a) On or before the First Amendment Effective Date, the Grantor shall execute and deliver to the Subordinated Collateral Agent a Deposit Account Control Agreement for Merchant Deposit Account maintained by the Grantor at U.S. Bank National Association (the “Merchant Deposit Account”), which
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Related to Collection of Retained Receivables

  • Collection of Receivables Except as otherwise provided in this Security Agreement, such Grantor will collect and enforce, at such Grantor’s sole expense, all amounts due or hereafter due to such Grantor under the Receivables owned by it.

  • Collection of Receivable Payments The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection procedures as it follows with respect to all comparable motor vehicle receivables (including automobiles and light-duty trucks) that it services for itself or others. The Servicer shall be authorized to grant extensions, rebates or adjustments on a Receivable without the prior consent of the Issuer. If, as a result of the extending of payments in accordance with the customary servicing standards of the Servicer, any Receivable will be outstanding later than the Final Scheduled Maturity Date, the Servicer shall be obligated to repurchase such Receivable pursuant to Section 3.08. In addition, in the event that any such rescheduling or extension of a Receivable modifies the terms of such Receivable in such a manner as to constitute a cancellation of such Receivable and the creation of a new motor vehicle receivable (including automobiles and light-duty trucks) that results in a deemed exchange thereof within the meaning of Section 1001 of the Code, the Servicer shall purchase such Receivable pursuant to Section 3.08, and the receivable created shall not be included in Collateral held by the Issuer. Notwithstanding the foregoing, extensions or modifications of the payment schedule of a Receivable can be made only in accordance with the customary servicing procedures of the Servicer, provided that the amount of any extension fee charged in connection with the extension of a Receivable is deposited into the Collection Account by the Servicer in accordance with Section 4.05(a). The Servicer may, in accordance with its customary servicing procedures, waive any prepayment charge, late payment charge or any other fees that may be collected in the ordinary course of servicing the Receivables.

  • Servicing of Receivables The Master Servicer shall service the Receivables as required by the terms of this Agreement and in material compliance with its standard and customary procedures for servicing all its other comparable motor vehicle receivables and in compliance with applicable law; and

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Collection of Accounts Receivable At Closing, Seller will deliver Seller's existing accounts receivable on the Accounts Receivable List. Such Accounts Receivable List will be used by Buyer for purposes of collection only for the period of one hundred twenty (120) days immediately following Closing (the "Collection Period"). Acting as Seller's agent, during the Collection Period Buyer shall have the exclusive right to and shall make commercially reasonable efforts to collect Seller's accounts receivable listed on the Accounts Receivable List, but shall not be required to expend or advance any of its funds, to locate any debtor, or to institute or defend any suit, action, claim, or counterclaim in any legal or equitable proceeding. Under no circumstances shall Buyer be required to engage counsel or any outside collection agency or facility in collecting Seller's accounts receivable. Payments received on an account from any customer of Buyer that is an account debtor for an account of Seller on the Accounts Receivable List shall be applied first to the Seller's account on such list, unless such customer shall designate some other application of such payment or shall contest the account receivable, in which case Buyer shall promptly notify Seller of such designation or contest and return to Seller the account relating to such customer and thereafter shall have no further obligation with respect thereto. If Seller requests, Buyer also shall promptly return to Seller any account of Seller that is over 90 days old, and Buyer shall have no further obligation with respect to such account. Buyer shall transmit all monies collected on Seller's accounts receivable to Seller within fifteen (15) days after the end of each month in which such monies are collected. Upon expiration of the Collection Period, Buyer shall be relieved of all responsibility for, or to attempt collection of, Seller's accounts receivable, and thereafter Seller alone shall be responsible for collection of any balances due on such accounts. Within twenty (20) days after expiration of the Collection Period, Buyer will make final payment to Seller of the amounts collected on Seller's accounts and shall return to Seller each then uncollected Seller's account together with a final statement of the accounts outstanding.

  • Master Servicer Collection Account (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer Collection Account shall be an Eligible Account. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:

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