Notice to Purchaser. Borrower authorizes any of Agent, Lockbox Agent or Servicing Agent (but none of Agent, Lockbox Agent nor Servicing Agent shall be obligated) to communicate at any time and from time to time with any Purchaser or any other Person primarily or secondarily liable under a Pledged Note Receivable with regard to the Lien of Agent thereon and any other matter relating thereto, and by no later than the Effective Date, Borrower shall deliver to Agent a notification to the Purchasers executed in blank by Borrower and in form acceptable to Agent, pursuant to which the Purchasers (or other obligors) may be directed to remit all payments in respect of the Collateral as Agent may require.
Appears in 3 contracts
Samples: Loan Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc)
Notice to Purchaser. Borrower authorizes any of Agent, Lockbox Agent or Servicing Agent (but none of Agent, Lockbox Agent nor Servicing Agent shall be obligated) to communicate at any time and from time to time with any Purchaser or any other Person primarily or secondarily liable under a Pledged Note Receivable with regard to the Lien of Agent thereon and any other matter relating thereto, and by no later than the Effective Closing Date, Borrower shall deliver to Agent a notification to the Purchasers executed in blank by Borrower and in form acceptable to Agent, pursuant to which the Purchasers (or other obligors) may be directed to remit all payments in respect of the Collateral as Agent may require.
Appears in 3 contracts
Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)
Notice to Purchaser. Borrower hereby authorizes any of Agent, Lender and Lockbox Agent or Servicing Agent (but none of Agent, neither Lender nor Lockbox Agent nor Servicing Agent shall be obligated) to communicate at any time and from time to time with any Purchaser or any other Person primarily or secondarily liable under a Pledged Note Receivable with regard to the Lien of Agent the Lender thereon and any other matter relating thereto, and by no later than the Effective Closing Date, Borrower shall deliver to Agent a notification Lender notifications to the Purchasers executed in blank by Borrower and in form acceptable to AgentLender, pursuant to which the such Purchasers (or other obligors) may be are directed to remit all payments in respect of the Collateral to Lockbox Agent or as Agent Lender may otherwise require.
Appears in 2 contracts
Samples: Inventory Loan and Security Agreement (Silverleaf Resorts Inc), Receivables Loan and Security Agreement (Silverleaf Resorts Inc)
Notice to Purchaser. The Borrower authorizes any of the Agent, the Lockbox Agent or Servicing Agent (but none of the Agent, the Lockbox Agent nor Servicing Agent shall be obligated) to communicate at any time and from time to time with any Purchaser or any other Person primarily or secondarily liable under a Pledged Note Receivable with regard to the Lien of the Agent thereon and any other matter relating thereto, and by no later than the Effective Closing Date, Borrower shall deliver to Agent a notification to the Purchasers executed in blank by the Borrower and in form acceptable to Agent, pursuant to which the Purchasers (or other obligors) may be directed to remit all payments in respect of the Collateral as Agent may require.
Appears in 1 contract
Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc)