Common use of Collection of Transferred Receivables Clause in Contracts

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 8.06(b8.06(d), the Seller Servicer shall continue to collect or cause to be collected, at its own sole cost and 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 collectionstherewith, the Seller may and the Servicer shall take (and at the Collateral Agent's direction after a Termination Event has occurred and is continuing, shall take) such action as it, and from and after the Seller or occurrence and during the Collateral Agent continuance of a Termination Event, the Administrative Agent, may deem necessary or advisable desirable to enforce collection of the Transferred Receivables and Receivables, the Seller Assigned AgreementsAgreements and the other Seller Collateral; provided, howeverthat the Seller may, rather than having the Servicer commence any such action or taking any other enforcement action, at its option, elect to pay to the Applicable Purchaser (in accordance with its Purchaser Interests), the Outstanding Balance of any such Transferred Receivable; provided further, that if (i) the Collateral Administrative Agent has taken dominion and control over the Lockbox Accounts pursuant to Section 6.01(a)(i), then the Administrative Agent may without prior notice to the Seller or the Servicer, exercise its rights and remedies with respect to the Lockbox Accounts and Deposit Accounts under Sections 6.01 and 6.03, and (ii) if the Administrative Agent has taken dominion and control over the Lockbox Accounts pursuant to Section 6.01(a)(i), (caused by the occurrence and continuation of a Cash Management Event other than the events specified in clauses (e)(i) and (g) in the definition thereof), then the Administrative Agent may, at any time that a Termination Event has occurred and is continuingwithout prior notice to the Seller or the Servicer, notify any Obligor with respect to under any Transferred Receivables Receivable or obligors under the Seller Assigned GE Capital Corporation/Blue Hill II, Inc. Amended and Restated Receivables Purchase and Servicing Agreement Agreements of the assignment of such Transferred Receivables or Seller Assigned Agreements, as the case may be, to the Collateral Administrative Agent on behalf of the Purchasers hereunder and direct that payments of all amounts due or to become due to the Seller thereunder be made directly to the Collateral Administrative Agent or any servicer, collection agent or lockbox or other account designated by the Collateral Administrative Agent and, upon such notification and if a Termination Event has occurred and is continuing, at the sole cost and expense of the SellerSeller and the Servicer, the Collateral Administrative Agent may enforce collection of any such Transferred Receivables Receivable 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 8.06(b), the Seller Borrower shall continue to collect or cause to be collected, at its own expense, all amounts due or to become due to the Seller Borrower under the Transferred Receivables, the Seller Borrower Assigned Agreements and any other Seller Collateral. In connection with such collections, the Seller Borrower 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 Borrower or the Collateral Agent may deem necessary or advisable to enforce collection of the Transferred Receivables and the Seller Borrower 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 Borrower Assigned Agreements of the assignment of such Transferred Receivables or Seller Borrower 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 Borrower 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 SellerBorrower, the Collateral Agent may enforce collection of any such Transferred Receivables or the Seller Borrower 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 8.06(b8.5(b), the Seller Borrower shall continue to collect or cause to be collected, at its own expense, all amounts due or to become due to the Seller Borrower under the Transferred Receivables, the Seller Borrower Assigned Agreements and any other Seller Collateral. In connection with such collections, the Seller Borrower may take (and at the Collateral AgentLender's direction after a Termination an Event of Default has occurred and is continuing, shall take) such action as the Seller Borrower or the Collateral Agent Lender may deem necessary or advisable to enforce collection of the Transferred Receivables and the Seller Borrower Assigned Agreements; provided, however, that the Collateral Agent Lender may, at any time that a Termination an Event of Default has occurred and is continuing, notify any Obligor with respect to any Transferred Receivables or obligors under the Seller Borrower Assigned Agreements of the assignment of such Transferred Receivables or Seller Borrower Assigned Agreements, as the case may be, to the Collateral Agent Lender and direct that that, except with respect to payments on Government Receivables, payments of all amounts due or to become due to the Seller Borrower thereunder be made directly to to, the Collateral Agent Lender or any servicer, collection agent or lockbox or other account designated by the Collateral Agent Lender and, upon such notification and at the expense of the SellerBorrower, the Collateral Agent Lender may enforce collection of any such Transferred Receivables or the Seller Borrower 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 8.06(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 cause such Transferred ReceivableReceivable to be subject to options (i) to (iii) of Section 4.04 of the Transfer Agreement.