Common use of Preparation of Collateral Clause in Contracts

Preparation of Collateral. Following and during an Event of Default, if requested by a Lender, the Borrower will promptly (i) assemble any Collateral and make it available to the Lenders at a place to be designated by a Lender, located within three hundred (300) miles of Boston, Massachusetts, and (ii) notify all obligors under all Permitted Loans to make all future payments directly to the Lenders, in lieu of making payments to the Borrower.

Preparation of Collateral. Following and during an Event of Default, if requested by a Lender, the Borrower will promptly (i) assemble any Collateral and make it available to the Lenders Lender at a place to be designated by a Lender, located within three hundred (300) miles of Boston, Massachusetts, and (ii) notify all obligors under all Permitted Loans to make all future payments directly to the LendersLender, in lieu of making payments to the Borrower.

Preparation of Collateral. Following and during an Event of Default, if requested by a the Lender, the Borrower will promptly (i) assemble any Collateral and make it available to the Lenders Lender at a place to be designated by a the Lender, located within three hundred (300) miles of Boston, Massachusetts, and (ii) notify all obligors under all Permitted Loans to make all future payments directly to the LendersLender, in lieu of making payments to the Borrower.