Common use of Communications with Credit Parties; Grantors Remain Liable Clause in Contracts

Communications with Credit Parties; Grantors Remain Liable. The Collateral Agent in its own name or in the name of others may at any time after the occurrence and during the continuance of an Event of Default under Section 11.1 or Section 11.5 of the Credit Agreement, subject to the terms of the Intercreditor Agreements, after giving at least one Business Day’s prior written notice to the relevant Grantor of its intent to do so, communicate with obligors under the Accounts to verify with them to the Collateral Agent’s satisfaction the existence, amount and terms of any Accounts. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Communications with Credit Parties; Grantors Remain Liable. The Collateral Agent in its own name or in the name of others may at any time after the occurrence and during the continuance of an Event of Default under Section 11.1 or Section 11.5 of the Credit Agreement, subject to the terms of the any Intercreditor AgreementsAgreement, after giving at least one (1) Business Day’s prior written notice to the relevant Grantor Grantors of its intent to do so, communicate with obligors under the Accounts Receivable to verify with them to the Collateral Agent’s satisfaction the existence, amount and terms of any AccountsAccounts Receivable. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.