Collection of Transferred Receivables. In connection with the collection of amounts due or to become due to the Borrower under the Transferred Receivables, the Borrower Assigned Agreements and any other Borrower Collateral pursuant to the Sale Agreement, the Borrower shall, or shall cause the Servicer to, take such action as it, and from and after the occurrence and during the continuance of a Termination Event, the Administrative Agent, may deem reasonably necessary or desirable to enforce collection of the Transferred Receivables, the Borrower Assigned Agreements and the other Borrower Collateral; provided that the Borrower may, rather than commencing any such action or taking any other enforcement action, at its option, elect to pay to the Administrative Agent, for deposit into the Agent Account, an amount equal to the Outstanding Balance of any such Transferred Receivable; provided further that if (i) an Incipient Termination Event or a Termination Event shall have occurred and be continuing or (ii) the Administrative Agent, in good faith believes that an Incipient Termination Event or a Termination Event is imminent, then the Administrative Agent may, without prior notice to the Borrower, any Originator or the Servicer, (x) exercise its right to take exclusive ownership and control of the Accounts in accordance with the terms applicable Account Agreement and (y) notify any Obligor under any Transferred Receivable or obligors under the Borrower Assigned Agreements of the pledge of such Transferred Receivables or Borrower Assigned Agreements, as the case may be, to the Administrative Agent on behalf of the Secured Parties hereunder and direct that payments of all amounts due or to become due to the Borrower thereunder be made directly to the Administrative Agent or any servicer, collection agent or lockbox or other account designated by the Administrative Agent and, upon such notification and at the sole cost and expense of the Borrower, the Administrative Agent may enforce collection of any such Transferred Receivable or the Borrower Assigned Agreements and adjust, settle or compromise the amount or payment thereof. The Administrative Agent shall provide prompt notice to the Borrower and the Servicer of any such notification of pledge or direction of payment to the Obligors under any Transferred Receivables.
Collection of Transferred Receivables. Except as otherwise ------------------------------------- provided in this Section 8.06(b), the Seller shall continue to collect or cause to be collected, at its own expense, all amounts due or to become due to the Seller under the Transferred Receivables, the Seller Assigned Agreements and any other Seller Collateral. In connection with such collections, the Seller may take (and at the Collateral Agent's direction after a Termination Event has occurred and is continuing, shall take) such action as the Seller or the Collateral Agent may deem necessary or advisable to enforce collection of the Transferred Receivables and the Seller Assigned Agreements; provided, however, that the Collateral Agent may, at any time that a Termination Event has occurred and is continuing, notify any Obligor with respect to any Transferred Receivables or obligors under the Seller Assigned Agreements of the assignment of such Transferred Receivables or Seller Assigned Agreements, as the case may be, to the Collateral Agent and direct that payments of all amounts due or to become due to the Seller thereunder be made directly to the Collateral Agent or any servicer, collection agent or lockbox or other account designated by the Collateral Agent and, upon such notification and at the expense of the Seller, the Collateral Agent may enforce collection of any such Transferred Receivables or the Seller Assigned Agreements and adjust, settle or compromise the amount or payment thereof, provided that the Seller may, rather than commencing such action or taking other enforcement action, at its option, elect to pay the Purchaser the Outstanding Balance of such Transferred Receivable.
Collection of Transferred Receivables. Except as otherwise provided in this Section 8.05, the Master Servicer shall continue to collect or cause to be collected, at its sole cost and expense, all amounts due or to become due to MRFC under the Transferred Receivables, the MRFC Assigned Agreements and any other MRFC Collateral. In connection therewith, MRFC and Master Servicer shall take such action as it, and from and after the occurrence and during the continuance of a Termination Event, the Administrative Agent, may deem necessary or desirable to enforce collection of the Transferred Receivables, the MRFC Assigned Agreements and the other MRFC Collateral; provided that if a Potential Termination Event or a Termination Event shall have occurred and be continuing, then the Administrative Agent may, without prior notice to MRFC or Master Servicer, notify or cause the Master Servicer to notify any Obligor under any Transferred Receivable or obligors under the MRFC Assigned Agreements of the assignment of such Transferred Receivables or MRFC Assigned Agreements, as the case may be, to the Administrative Agent on behalf of the Purchasers hereunder and direct that payments of all amounts due or to become due to MRFC thereunder be made directly to the Administrative Agent or any servicer, collection agent or lockbox or other account designated by the Administrative Agent and, upon such notification and at the sole cost and expense of MRFC and Master Servicer, the Administrative Agent may enforce collection of any such Transferred Receivable or the MRFC Assigned Agreements and adjust, settle or compromise the amount or payment thereof.
Collection of Transferred Receivables. In connection with the collection of amounts due or to become due under the Transferred Receivables, the Borrower Assigned Agreements and any other Borrower Collateral, the Servicer shall take such action as it, and from 727160102 10435078 38
Collection of Transferred Receivables. In connection with the collection of amounts due or to become due to the Seller under the Transferred Receivables, the Seller Assigned Agreements and any other Seller Assets pursuant to the Transfer Agreement, the Seller shall, or shall cause the Servicer to, take such action as it, and from and after the occurrence and during the continuance
Collection of Transferred Receivables. The Company will deposit or ------------------------------------- cause to be deposited in the Collection Account all cash, checks, money orders, wire transfers or moneygrams or other Proceeds of Collateral received in respect of Transferred Receivables within two Business Days of the receipt thereof. Until so deposited, all such Proceeds shall be held in trust for the Collateral Agent by the Company.
