Common use of Collection of Rights to Payment Clause in Contracts

Collection of Rights to Payment. Until the Trustee exercises its rights hereunder to collect Rights to Payment, each Guarantor 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 Trustee, upon and after the occurrence of any Default or Event of Default, all remittances received by the Guarantors shall be held in trust for the Trustee and, in accordance with the Trustee's instructions, remitted to the Trustee or deposited to an account with the Trustee in the form received (with any necessary endorsements or instruments of assignment or transfer).

Collection of Rights to Payment. Until the Trustee exercises its rights hereunder to collect Rights to Payment, each Guarantor 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 Trustee, upon and after the occurrence of any Default or Event of Default, all remittances received by the Guarantors Company shall be held in trust for the Trustee and, in accordance with the Trustee's instructions, remitted to the Trustee or deposited to an account with the Trustee in the form received (with any necessary endorsements or instruments of assignment or transfer).