Common use of Other Rights of the Agent Clause in Contracts

Other Rights of the Agent. At any time following the occurrence of an Event of Termination or the designation of a Servicer other than WMECO pursuant to Section 6.01: (a) The Agent may or, at the request of the Agent, the Seller and the Servicer shall (in either case, at the Seller's expense) direct the Obligors of Receivables, or any of them, to pay all amounts payable under any Receivable directly to the Agent or its designee; and (b) The Seller and the Servicer shall, at the Agent's request and at the Seller's expense, (i) assemble all Records and make the same available to the Agent or its designee at a place selected by the Agent or its designee, and (ii) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Agent and, promptly following receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (North Atlantic Energy Corp /Nh), Receivables Purchase Agreement (Northeast Utilities System)

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Other Rights of the Agent. At any time following the occurrence of an Event of Termination or the designation of a Servicer other than WMECO the Seller pursuant to Section 6.01: (a) The Agent may or, at the request of the Agent, the Seller and the Servicer shall (in either case, at the Seller's expense) direct the Obligors of Receivables, or any of them, to pay all amounts payable under any Receivable directly to the Agent or its designee; and (b) The Seller and the Servicer shall, at the Agent's request and at the Seller's expense, (i) assemble all Records and make the same available to the Agent or its designee at a place selected by the Agent or its designee, and (ii) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Agent and, promptly following receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee.

Appears in 1 contract

Samples: Receivables Purchase and Sale Agreement (North Atlantic Energy Corp /Nh)

Other Rights of the Agent. At any time following the occurrence of an Event of Termination or the designation of a Servicer other than WMECO the Originator, the Seller or any Affiliate thereof pursuant to Section 6.01: (a) The Agent may or, at the request of the Agent, the Seller and the Servicer shall (in either case, at the Sellerseller's expense) direct the Obligors of Receivables, or any of them, to pay all amounts payable under any Receivable directly to the Agent or its designee; and (b) The Seller and the Servicer shall, at the Agent's request and at the Seller's expense, (i) assemble all Records and make the same available to the Agent or its designee at a place selected by the Agent or its designee, and (ii) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Agent and, promptly following receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee.

Appears in 1 contract

Samples: Receivables Loan and Security Agreement (Equivest Finance Inc)

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Other Rights of the Agent. At any time following the occurrence of an Event of Termination Default or the designation of a Servicer other than WMECO the Originator, the Borrower or any Affiliate thereof pursuant to Section 6.01: (a) The Agent may or, at the request of the Agent, the Seller and the Servicer Borrower shall (in either case, at the SellerBorrower's expense) direct the Obligors of Receivables, or any of them, to pay all amounts payable under any Receivable directly to the Agent or its designee; and (b) The Seller and the Servicer Borrower shall, at the Agent's request and at the SellerBorrower's expense, (i) assemble all Records and make the same available to the Agent or its designee at a place selected by the Agent or its designee, and (ii) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Agent and, promptly following receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee.

Appears in 1 contract

Samples: Receivables Loan and Security Agreement (Equivest Finance Inc)

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