Common use of Notice to Lock-Box Banks Clause in Contracts

Notice to Lock-Box Banks. At any time after the occurrence of an Unmatured Default or an Event of Default, the Agent is hereby authorized to direct the Servicer, and the Servicer is hereby authorized and directed to comply with such direction, to give notice to the Lock-Box Banks, as provided in the Lock-Box Agreements, of the transfer to the Agent of dominion and control over the Lock-Boxes and related Lock-Box Accounts to which the Obligors of Receivables make payments. The Borrower and the Servicer hereby transfer to the Agent, effective when the Agent shall give notice to the Lock-Box Banks as provided in the Lock-Box Agreements, the exclusive dominion and control over such Lock-Boxes and Lock-Box Accounts, and shall take any further action that the Agent may reasonably request to effect such transfer.

Notice to Lock-Box Banks. At any time after the occurrence of an Unmatured Default or an Event of Default, the Agent is hereby authorized to direct the ServicerAgent, and the Servicer Agent is hereby authorized and directed to comply with such direction, to give notice to the Lock-Box Banks, as provided in the Lock-Box Agreements, of the transfer to the Agent of dominion and control over the Lock-Boxes and related Lock-Box Accounts to which the Obligors of Receivables make payments. The Borrower and the Servicer hereby transfer to the Agent, effective when the Agent shall give notice to the Lock-Box Banks as provided in the Lock-Box Agreements, the exclusive dominion and control over such Lock-Boxes and Lock-Box Accounts, and shall take any further action that the Agent may reasonably request to effect such transfer.

Notice to Lock-Box Banks. At any time after Lock-Box Agreements have been executed, either of the occurrence of an Unmatured Default or an Event of Default, the Agent Co-Agents is hereby authorized to direct the ServicerAdministrative Agent, and the Servicer Administrative Agent is hereby authorized and directed to comply with such direction, to give notice to the Lock-Box Banks, as provided in the Lock-Box Agreements, of the transfer to the Administrative Agent of dominion and control over the Locklock-Boxes boxes and related Lock-Box Accounts accounts to which the Obligors of Receivables make payments. The Borrower and the Servicer hereby transfer to the Administrative Agent, effective when the Administrative Agent shall give notice to the Lock-Box Banks as provided in the Lock-Box Agreements, the exclusive dominion and control over such Locklock-Boxes boxes and Lock-Box Accountsaccounts, and shall take any further action that the Administrative Agent may reasonably request to effect such transfer.