Common use of Collection of Rights to Payment Clause in Contracts

Collection of Rights to Payment. Until the Collateral Agent exercises its rights hereunder to collect Rights to Payment, the Company shall endeavor in the first instance diligently to collect all amounts due or to become due on or with respect to the Rights to Payment. At the request of the Collateral Agent, during the continuance of any Event of Default, all remittances received by the Company shall be held in trust for the Collateral Agent and, in accordance with the Collateral Agent's instructions (acting on behalf of the Directing Banks), remitted to the Collateral Agent or deposited to an account with the Collateral Agent in the form received (with any necessary endorsements or instruments of assignment or transfer).

Collection of Rights to Payment. Until the Collateral Agent exercises its rights hereunder to collect Rights to Payment, the Company Debtor shall endeavor in the first instance diligently to collect all amounts due or to become due on or with respect to the Rights to Payment. At the request of the Collateral Agent, during the continuance Agent or the Noteholders, upon and after the occurrence of any Event of Default, and while such Event of Default is continuing, all remittances received by the Company Debtor shall be held in trust for the Collateral Agent and, in accordance with the Collateral Agent's instructions (acting on behalf of the Directing Banks)’s instructions, remitted to the Collateral Agent or deposited to an account with the Collateral Agent in the form received (with any necessary endorsements or instruments of assignment or transfer).

Collection of Rights to Payment. Until the Collateral Agent exercises its rights hereunder to collect Rights to Payment, the Company Borrower shall endeavor in the first instance diligently to collect all amounts due or to become due on or with respect to the Rights to Payment. At the request of the Collateral Agent, upon the occurrence and during the continuance of any Event of Default, all remittances received by the Company Borrower shall be held in trust for the Collateral Agent and, in accordance with the Collateral Agent's instructions (acting on behalf of the Directing Banks)’s instructions, remitted to the Collateral Agent or deposited to an account with the Collateral Agent in the form received (with any necessary endorsements or instruments of assignment or transfer).