Common use of Ordinary Collection Clause in Contracts

Ordinary Collection. (a) As from the revocation of the Mandates and as long as it remains the owner of the Transferred Receivables, the Factor (or its agent, as the case may be) shall have the exclusive right to manage the collection and recovery thereof. It shall manage the relevant accounts, grant or refuse any postponements, extensions or arrangements, with or without discounts, as may be requested by the Debtors. Subject to actual collection, the Factor (or its agent, as the case may be) shall credit payments to the Asset Account. (b) Each of the French Sellers agrees to provide its assistance to the Factor and to provide in particular any and all documents, correspondence and special powers of attorney that may be reasonably requested in writing by the Factor for the purpose of collecting the Transferred Receivables (subject to confidentiality undertaking). For the Non-Approved Receivables which are also Disputed Receivables, the Factor shall not bear the duly justified collection fees and expenses which may be incurred after their maturity date for a contested collection. In the event that the Factor prepays such duly justified fees and expenses, the Factor shall be entitled to debit the relevant amounts from the Current Account.