Performance of Basic Documents. The Company and each Subsidiary shall have performed and complied with all agreements and conditions required by any of the Basic Documents to be performed or complied with by it at or prior to the Closing Date.
Performance of Basic Documents. Promptly following a --------------------------------------------- request from the Administrative Agent to do so and at the Transferor's own expense, the Transferor agrees (i) to take all such lawful action as the Administrative Agent may request to compel or secure the performance and observance by any Person of its obligations to the Transferor under or in connection with the Receivables Purchase Agreements or any Pooled Interest Rate Cap in accordance with the terms thereof and (ii) to exercise any and all rights, remedies, powers and privileges lawfully available to the Transferor under or in connection with the Receivables Purchase Agreements and the Pooled Receivables or any Pooled Interest Rate Cap, in each case to the extent and in the manner directed by the Administrative Agent, including, without limitation, the transmission of notices of default on the part of any party to any of such Basic Documents and the institution of legal or administrative actions or proceedings to compel or secure performance by any party to any of such Basic Documents of its respective obligations. The Transferor further agrees that it will not, without the prior written consent of the Administrative Agent (or to the extent required under a Receivables Purchase Agreement, the Majority Purchasers), (a) exercise any right, remedy, power or privilege available to it under or in connection with any Receivables Purchase Agreement and the Pooled Receivables or any Pooled Interest Rate Cap, (b) take any action to compel or secure performance or observance by any Person of its obligations to the Transferor under or in connection with any Receivables Purchase Agreement and the Pooled Receivables or any Pooled Interest Rate Cap or (c) give any consent, request, notice, direction, approval, extension or waiver to any Person under any Receivables Purchase Agreement or any Pooled Interest Rate Cap not required to be exercised, taken, observed or given by the Transferor pursuant to the terms thereof.
