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

Notice to Lock-Box Banks. At any time during the continuance of any Event of Termination, Collection Control Event or Non-Reinvestment Event, the Collateral Agent may (or shall if so directed by the Required Purchasers or any Administrative Agent), and is hereby authorized to, assume exclusive dominion and control over the Lock-Box Accounts, and the Sellers and the Servicer shall take any further action that the Collateral Agent may reasonably request to effect such assumption.

Notice to Lock-Box Banks. At any time during the continuance of any Event of Termination, Collection Control Event Event, or Non-Reinvestment Event, the Collateral Agent may (or shall if so directed by the Required Purchasers or any the Administrative Agent), and is hereby authorized to, assume exclusive dominion and control over the Lock-Box Accounts, and the Sellers and the Servicer shall take any further action that the Collateral Agent may reasonably request to effect such assumption.