Receivables Collateral. “Receivables Collateral” shall mean and refer to all Rental Payments and all rights to payment now held, or in which the Mortgagor has an interest or hereafter acquired by the Mortgagor, or in which the Mortgagor obtains an interest, arising out of, constituting a part of, or relating to all or a portion of the Collateral.
Receivables Collateral. (i) Other than in the ordinary course of business consistent with past practices, Debtor will not (i) grant any extension of the time of payment of any receivables collateral, (ii) compromise or settle any receivables collateral for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any receivables collateral, (iv) allow any credit or discount whatsoever on any receivables accounts or accounts receivable, (v) except for Permitted Liens, sell or pledge any interest in any receivables, collateral, or (vi) amend, supplement or modify any receivables collateral in any manner that could adversely affect in any material respect the value thereof.
(ii) If at any time the aggregate amount owing to the Debtor on all Accounts as to which a governmental authority is an obligor exceeds 20% of the aggregate amount owing to the Debtor on all Accounts, Debtor shall so notify Collateral Agent and, if requested by any Lender, at the Debtor's sole cost and expense, from and after the date on which such aggregate amount first exceeds such percentage, deliver to Collateral Agent such assignments, notices of assignment and other documents or information as shall be necessary or otherwise reasonably requested by the Collateral Agent to permit the assignment hereunder of all Accounts as to which a Governmental Authority is an obligor pursuant to all applicable Governmental Requirements (including, without limitation, the Assignment of Claims Act of 1940, as amended).
Receivables Collateral. With respect to all Receivables Collateral:
Receivables Collateral. The Receivables, including: (i) all interest, finance charges, and principal received on or with respect to the Receivables; (ii) the Receivables Files; (iii) property which secured a Receivable and which has been acquired by repossession or otherwise; (iv) all rights to Insurance Proceeds and Liquidation Proceeds; and (v) the proceeds of the foregoing and the rights to enforce the foregoing.
Receivables Collateral. Borrower has good and marketable legal title to and is the sole owner of the Receivables Collateral and the Pledged Timeshare Loans are not subject to any lien, security interest, charge or other claim or encumbrance of any Person other than Lender.
Receivables Collateral. (a) Each Borrower shall keep and maintain at its own cost and expense complete records of each Account, including records of all payments received, all credits granted thereon, all merchandise returned and all other documentation relating thereto. Each Borrower shall, at such Borrower’s sole cost and expense, upon the Agent’s demand made at any time after the occurrence and during the continuance of any Event of Default, deliver copies of all tangible evidence of Accounts, including copies of all documents evidencing Accounts and any books and records relating thereto to the Lenders or to their representatives.
(b) Other than in the ordinary course of business consistent with its past practice, such Borrower will not (i) grant any extension of the time of payment of any receivable, (ii) compromise or settle any Account for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any Account, (iv) allow any credit or discount whatsoever on any Account or (v) amend, supplement or modify any Account in any manner that could adversely affect the value thereof.
Receivables Collateral. No Grantor will sell or pledge any interest in any receivables collateral (except for Permitted Liens and securities under Prior Known Obligations), other than in the ordinary course of business consistent with past practices.
Receivables Collateral. No Account, Chattel Paper, Payment Intangible, Instrument and other rights to payment requires the consent of the Account Debtor or Person obligated thereon in connection with the Security Interest hereunder, except any consent which has been obtained.
Receivables Collateral. To secure the payment and performance of the Obligations, for value received, Borrower unconditionally and irrevocably assigns, pledges and grants to Lender a continuing first priority security interest in and to the Receivables Collateral.
Receivables Collateral. Any amendment to or modification of any Pledged Note Receivable, which is an Eligible Note Receivable and without which the Receivables Loan would be in excess of the Borrowing Base, is made without the prior written consent of Lender, other than upgrades or downgrades, and other than modifications and extensions granted by Borrower in connection with its normal collection practices which do not eliminate any defaults of Purchaser thereunder and further provided that notice of such other modifications and extensions specifying the details thereof has been provided to Lender ten (10) Business Days prior to the effective date of such other modification and/or extension with Lender having an absolute right of refusal over the grant of such other modification and/or extension; provided any notice of disapproval is given to Borrower within such ten (10) Business Day period. In addition, Borrower may amend or modify any Pledged Note Receivable even though not otherwise permitted by this Section 8.1(v) so long as concurrently therewith (or five (5) Business Days
