Notice to Debtors Clause Samples
The "Notice to Debtors" clause requires that debtors be formally informed of certain events or actions related to their debt, such as assignment of the debt, changes in payment instructions, or impending enforcement actions. Typically, this clause outlines the method and timing for delivering such notices, ensuring that debtors receive clear and timely communication—often via mail, email, or other specified means. Its core function is to ensure transparency and provide debtors with the necessary information to respond appropriately, thereby reducing disputes and misunderstandings.
Notice to Debtors. Borrower agrees, at the request of the Lender, to notify all or any of the Debtors in writing of the Lender's security interest in the Collateral in whatever manner the Lender requests and, hereby authorizes the Lender to notify all or any of the Debtors of the Lender's security interest in Borrower's accounts at Borrower's expense.
Notice to Debtors. At any time that a Default is outstanding, Burdale or its nominee may, at Burdale's discretion as the case may be do any of the following:
(i) having given prior notification to the Company, notify any or all account debtors that the Receivables have been assigned to Burdale and that payments in respect of Receivables are to be redirected to such account as is specified by Burdale;
(ii) request the relevant Facility Company to give the notification referred to in Clause 14.6(b)(i) above and/or to ensure that all invoices and statements in respect of Receivables issued to the account debtors state the information referred to in Clause 14.6(b)(i); and
(iii) direct any or all relevant account debtors to make all payments in respect of Receivables direct to Burdale at such account as Burdale may specify.
Notice to Debtors. All notices made under or pursuant to the Transaction Documents to Debtors located in the jurisdictions described in Schedule 2 will be made in compliance with the requirements set out therein.
Notice to Debtors. 5.1 The Onward Purchaser acknowledges and agrees that unless and until (i) a Termination Event has occurred, or (ii) the Onward Purchaser reasonably considers it necessary to protect its interest in the payments due in respect of the Purchased Receivables and serves notice on the Purchaser to such effect (setting out its reasons therefor), it shall not give a notice to any Debtor of the assignment to the Onward Purchaser of the Purchased Receivables; and the Purchaser acknowledges that upon the occurrence of (i) or (ii) it may be required by the Onward Purchaser (without prejudice to the right of the Onward Purchaser in respect of the same) to give notice at its own costs to any Debtor of such assignment in which case the Purchaser shall promptly notify the relevant Debtors of the Onward Purchaser’s interest in the Purchased Receivables. Any such notice shall specify the bank account into which all future payments in respect of Purchased Receivables shall be made.
5.2 If for any reason the Purchaser gives notice to a Debtor of the transfer made under any Receivables Sale Agreement, but no notice is given to such Debtor of the transfer under this Agreement then the Purchaser undertakes to transfer to the Operating Account any Collections received by it in relation to the Receivables due by such Debtor forthwith upon receipt of such Collections.
Notice to Debtors. Notify, in writing, all present and future Debtors and others responsible for payment on any Chattel Paper, to send all payments on Chattel Paper to the Lock Box address selected by Lender. 8 09-11-1996 LOAN AGREEMENT PAGE 8 LOAN NO. (CONTINUED) ================================================================================
Notice to Debtors. Each of Buyer and/or GCFP, at each's respective expense, shall give notice, or cause notice to be given to the Debtors as may be required under the Accounts or law of the transfer of the Accounts. Notice shall be sent to all Debtors within forty-five (45) days of the date of Closing in accordance with the terms of the Accounts or law (as the case may be), at those parties' last known address.
Notice to Debtors. Each German Borrower and each German Guarantor shall (i) provide to its account debtors such notice with respect to the security created pursuant to the Security Documents as the Agent may from time to time reasonably require and (ii) include on its invoices details of an appropriate Blocked Account for payment.
Notice to Debtors. YOU ARE ENTITLED TO A COPY OF THIS EDUCATIONAL CREDIT/LOAN AGREEMENT.
Notice to Debtors. Notify, in writing, all present and future Debtors and others responsible for payment on any Non-Prime Auto Paper or any Consumer Paper, to send all payments on Non-Prime Auto Paper or Consumer Paper to the Lock Box address selected by Lender.
Notice to Debtors. Each Obligor agrees, at the request of Agent, to notify all or any of the Debtors in writing of Agent’s security interest in the Collateral in whatever manner Agent requests and, hereby authorizes Agent, on behalf of the Lenders, to notify all or any of the Debtors of Agent’s security interest in such Obligor’s accounts at such Obligor’s expense.