Common use of Collections, etc Clause in Contracts

Collections, etc. Until such time during the occurrence a continuance of an Event of Default as the Secured Parties shall notify Debtor of the revocation of such power and authority, Debtor (a) will, at its own expense, endeavor to collect, as and when due, all amounts due under any of the Collateral as Debtor may deem advisable, and (b) may grant, in the ordinary course of business, to any party obligated on any Collateral, any rebate, refund or allowance to which such party may be lawfully entitled, and may accept, in connection therewith, the return of Goods, the sale or lease of which shall have given rise to such Collateral. The Secured Party, however, may, at any time that an Event of Default exists, whether before or after any revocation of such power and authority or the maturity of any of the Obligations, notify any parties obligated on any of the Collateral to make payment to the Secured Party of any amounts due or to become due thereunder and enforce collection of any of the Collateral by suit or otherwise and surrender, release or exchange all or any part thereof, or compromise or extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder or evidenced

Collections, etc. Until such time during the occurrence a continuance existence of an Event of Default as the Secured Parties Party shall notify Debtor such Grantor of the revocation of such power and authority, Debtor each Grantor (a) will, at its own expense, endeavor to collect, as and when due, all amounts due under any of the Collateral Non-Tangible Collateral, including the taking of such action with respect to such collection as Debtor the Secured Party may reasonably request or, in the absence of such request, as such Grantor may deem advisable, ; and (b) may grant, in the ordinary course of business, to any party obligated on any of the Non-Tangible Collateral, any rebate, refund or allowance to which such party may be lawfully entitled, and may accept, in connection therewith, the return of Goods, the sale or lease of which shall have given rise to such Collateral. The Secured Party, however, may, at any time that an Event of Default existshas occurred and is continuing, whether before or after any revocation of such power and authority or the maturity of any of the Obligations, notify any parties party obligated on any of the Non-Tangible Collateral to make payment or otherwise render performance to or for the benefit of the Secured Party of any amounts due or to become due thereunder and enforce collection of any of the Collateral enforce, by suit or otherwise and the obligations of any such party obligated on any Non-Tangible Collateral. In connection therewith, the Secured Party may surrender, release or exchange all or any part thereof, or compromise or extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder or evidencedevidenced thereby. Upon request of the Secured Party following the occurrence and during the continuation of an Event of Default, each Grantor will, at its own expense, notify any party obligated on any of the Non-Tangible Collateral to make payment to the Secured Party of any amounts due or to become due thereunder.

Collections, etc. Until such time during the occurrence a continuance existence of an Event of Default as the Secured Parties Party shall notify Debtor such Grantor of the revocation of such power and authority, Debtor each Grantor (a) will, at its own expense, endeavor to collect, as and when due, all amounts due under any of the Collateral Non-Tangible Collateral, including the taking of such action with respect to such collection as Debtor the Secured Party may reasonably request or, in the absence of such request, as such Grantor may deem advisable, ; and (b) may grant, in the ordinary course of business, to any party obligated on any of the Non-Tangible Collateral, any rebate, refund or allowance to which such party may be lawfully entitled, and may accept, in connection therewith, the return of Goods, the sale or lease of which shall have given rise to such Collateral. The Secured Party, however, may, at any time that an Event of Default existshas occurred and is continuing, whether before or after any revocation of such power and authority or the maturity of any of the Obligations, notify any parties party obligated on any of the Non-Tangible Collateral to make payment or otherwise render performance to or for the benefit of the Secured Party of any amounts due or to become due thereunder and enforce collection of any of the Collateral enforce, by suit or otherwise and the obligations of any such party obligated on any Non-Tangible Collateral. In connection therewith, the Secured Party may surrender, release or exchange all or any part thereof, or compromise or extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder or evidencedevidenced thereby. Upon request of the Secured Party following the occurrence and during the continuation of an Event of Default, each Grantor will, at its own expense, notify any party obligated on any of the Non-Tangible Collateral to make payment to the Secured Party of any amounts due or to become due thereunder.