Common use of Rights After Designation of New Collection Agent Clause in Contracts

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuCom) pursuant to Section 6.1: (i) The Agent may direct that payment of all amounts payable under the Receivables be made directly to the Company or its designee. (ii) Each of the Transferor and the Collection Agent shall, at the Company's request and at the Transferor's expense, give notice of the Company's ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Agent or its designee. (iii) Each of the Transferor and the Collection Agent shall (A) assemble all of the Records, and shall make the same available to the Agent at a place selected by the Agent or its designee, and (B) 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 shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee. (iv) Each of the Transferor and the Collection Agent hereby authorizes the Agent to take any and all steps in each of the Transferor's and the Collection Agent's name and on behalf of each of the Transferor and CompuCom necessary or desirable, in the determination of the Agent, to collect all amounts due under the Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 2 contracts

Samples: Transfer and Administration Agreement (Safeguard Scientifics Inc Et Al), Transfer and Administration Agreement (Compucom Systems Inc)

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Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComUAC) pursuant to Section 6.1: (i) The Agent or the Insurer may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Collateral Agent and the Insurer, as applicable, or its designeetheir respective designees. (ii) Each of the Transferor and the Collection Agent The Debtor shall, at the CompanyAgent's or the Insurer's request and at the TransferorDebtor's expense, give notice of the CompanyCollat eral Agent's ownership of interest in the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Collateral Agent or its designee. (iii) Each of The Debtor shall, at the Transferor and Agent's or the Collection Agent shall Insurer's request, (A) assemble all of the Records, and shall make the same available to the Collateral Agent and the Insurer at a place selected by the Collateral Agent and the Insurer or its designeetheir respective designees, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables Receiv xxxxx in a manner acceptable to the Collateral Agent and the Insurer and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Collateral Agent or its designee. (iv) Each of the Transferor and the Collection Agent The Debtor hereby authorizes the Collateral Agent to take any and all steps in each of the Transferor's and the Collection AgentDebtor's name and on behalf of each of the Transferor and CompuCom Debtor necessary or desirable, in the determination of the Collateral Agent, to collect all amounts due under the Receivablesany and all Receivables and Related Security with respect thereto, including, without limitation, endorsing the TransferorDebtor's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Security Agreement (Union Acceptance Corp)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComthe Transferor or any Affiliate of the Transferor) pursuant to Section 6.16.1 hereof: (i) The Administrative Agent may or shall, at the direction of the Purchaser Agents, direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Administrative Agent or its designee, to be applied in accordance with Sections 2.5, 2.6 and 2.12(d), as applicable. (ii) Each of In the event that a Termination Event has occurred, the Transferor and the Collection Agent shall, at the CompanyAdministrative Agent's request and at the Transferor's expense, give notice of the Company's ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly by each Obligor to the Administrative Agent or its designee, and, if necessary, give notice of any of the Purchaser Agents', the Transferor's and/or the Bank Investors' ownership of Receivables to each Obligor. (iii) Each of The Transferor shall, at the Transferor and the Collection Agent shall Administrative Agent's request, (A) assemble all of the Records, and shall make the same available to the Administrative Agent or its designee at a place selected by the Administrative Agent or its designee, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Administrative Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Administrative Agent or its designee. (iv) Each of the The Transferor and the Collection Agent hereby authorizes the Administrative Agent to take any and all lawful steps in each of the Transferor's and the Collection Agent's name and on behalf of each of the Transferor and CompuCom necessary or desirabledesirable and reasonable, in the determination of the Administrative Agent, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections and enforcing such Receivables and the related ContractsAccount Agreements, and the Transferor shall request any third party holding any Records to provide the Administrative Agent with access to such Records to same extent as the Transferor have such access.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Metris Direct Inc)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComUAC) pursuant to Section 6.1: (i) The Agent may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Collateral Agent or its any designee. (ii) Each of the Transferor and the Collection Agent The Debtor shall, at the CompanyAgent's request and at the TransferorDebtor's expense, give notice of the CompanyCollateral Agent's ownership of interest in the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Collateral Agent or its designee. (iii) Each of The Debtor shall, at the Transferor and the Collection Agent shall Agent's request, (A) assemble all of the Records, and shall make the same available to the Collateral Agent at a place selected by the Collateral Agent or its any designee, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables Receiv xxxxx in a manner acceptable to the Collateral Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Collateral Agent or its designee. (iv) Each of the Transferor and the Collection Agent The Debtor hereby authorizes the Collateral Agent to take any and all steps in each of the Transferor's and the Collection AgentDebtor's name and on behalf of each of the Transferor and CompuCom Debtor necessary or desirable, in the determination of the Collateral Agent, to collect all amounts due under the Receivablesany and all Receivables and Related Security with respect thereto, including, without limitation, endorsing the TransferorDebtor's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Security Agreement (Union Acceptance Corp)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComUAC) pursuant to Section 6.1: (i) The Agent or the Insurer may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Collateral Agent and the Insurer, as applicable, or its designeetheir respec tive designees. (ii) Each of the Transferor and the Collection Agent The Debtor shall, at the CompanyAgent's or the Insurer's request and at the TransferorDebtor's expense, give notice of the CompanyCollat eral Agent's ownership of interest in the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Collateral Agent or its designee. (iii) Each of The Debtor shall, at the Transferor and Agent's or the Collection Agent shall Insurer's request, (A) assemble all of the Records, and shall make the same available to the Collateral Agent and the Insurer at a place selected se lected by the Collateral Agent and the Insurer or its designeetheir respective designees, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Collateral Agent and the Insurer and shall, promptly upon receipt, remit all such cash, checks and instrumentsinstru ments, duly endorsed or with duly executed instruments of transfer, to the Collateral Agent or its designee. (iv) Each of the Transferor and the Collection Agent The Debtor hereby authorizes the Collateral Agent to take any and all steps in each of the Transferor's and the Collection AgentDebtor's name and on behalf of each of the Transferor and CompuCom Debtor necessary or desirable, in the determination of the Collateral Agent, to collect all amounts due under the Receivablesany and all Receiv xxxxx and Related Security with respect thereto, including, without limitation, endorsing the TransferorDebtor's name on checks and other instruments instru ments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Security Agreement (Union Acceptance Corp)

Rights After Designation of New Collection Agent. At ------------------------------------------------ any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuCom) pursuant to Section 6.16.1 hereof: (i) The Funding Agent may may, at its option, or shall, at the direction of the Required APA Banks, direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Funding Agent or its designeedesignee for the benefit of PARCO and the APA Banks. (ii) Each of the The Transferor and the Collection Agent shall, at the CompanyFunding Agent's request and at the Transferor's expense, give notice of PARCO's, the CompanyTransferor's and/or the APA Banks' ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Funding Agent or its designee. (iii) Each of The Transferor shall, at the Transferor and the Collection Agent shall Funding Agent's request, (A) assemble all of the Records, and shall make the same available to the Funding Agent or its designee at a place selected by the Funding Agent or its designee, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Funding Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Funding Agent or its designee. (iv) Each of the The Transferor and the Collection Agent Originator hereby authorizes authorize the Funding Agent to take any and all steps in each of the Transferor's and or the Collection AgentOriginator's name and on behalf of each of the Transferor and CompuCom the Originator necessary or desirable, in the determination of the Funding Agent, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's or the Originator's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Receivables Transfer Agreement (Medpartners Inc)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComTech Data, the Trans- feror, or any Affiliate of Tech Data or the Transferor) pursuant to Section 6.16.1 hereof: (i) The Agent may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Agent or its designee. (ii) Each of the Transferor and the Collection Agent Tech Data shall, at the CompanyAgent's request and at the TransferorTech Data's expense, give notice of the Agent's, the Transferor's, the Company's and/or the Bank Investor's ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Agent or its designee. (iii) Each of Tech Data shall, at the Transferor and the Collection Agent shall Agent's request, (A) assemble all of the Records, and shall make the same available to the Agent at a place selected by the Agent or its designee, and (B) 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 shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee. (iv) Each of the The Transferor and the Collection Agent Tech Data hereby authorizes authorize the Agent to take any and all steps in each of the Transferor's and the Collection Agentor Tech Data's name and on behalf of each of the Transferor and CompuCom or Tech Data necessary or desirable, in the determination of the Agent, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's or Tech Data's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.. 0104420.05-01S7a 74

Appears in 1 contract

Samples: Transfer and Administration Agreement (Tech Data Corp)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComthe Transferor, the Seller or any Affiliate of the Transferor or the Seller) pursuant to Section 6.16.1 hereof: (i) The Agent may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Agent or its designee. (ii) Each of the The Transferor and the Collection Agent shall, at the CompanyAgent's request and at the Transferor's expense, give notice of the CompanyAgent's, the Transferor's and/or the Bank Investors' ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Agent or its designee. (iii) Each of The Transferor shall, at the Transferor and the Collection Agent shall Agent's request, (A) assemble all of the Records, and shall make the same available to the Agent or its designee at a place selected by the Agent or its designee, and (B) 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 shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee. (iv) Each of the The Transferor and the Collection Agent Seller hereby authorizes authorize the Agent to take any and all steps in each of the Transferor's and or the Collection AgentSeller's name and on behalf of each of the Transferor and CompuCom the Seller necessary or desirable, in the determination of the Agent, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's or the Seller's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Shaw Industries Inc)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComan Affiliated Entity) pursuant to Section 6.16.1 hereof: (i) The Agent may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Agent or its designee. (ii) Each The Transferor shall, and shall cause each of the Transferor and the Collection Agent shallSeller's to, at the CompanyAgent's request and at the Transferor's expense, give notice of the CompanyAgent's, the Transferor's and/or the Bank Investors' ownership of the Receivables to each Obligor and each LEC and direct that payments in with respect thereof to the Receivables be made directly to the Agent or its designee. (iii) Each The Transferor shall, and shall cause each of the Transferor and Sellers to, at the Collection Agent shall Agent's request, (A) assemble all of the Records, and shall make the same available to the Agent or its designee at a place selected by the Agent or its designee, and (B) 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 shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee.of (iv) Each of the The Transferor and the Collection Agent hereby authorizes the Agent to take any and all steps in each of the Transferor's and and/or any of the Collection Agent's Sellers' name and on behalf of each of the Transferor and CompuCom and/or any such Seller necessary or desirable, in the determination of the Agent, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's and/or, to the extent permitted pursuant to the Receivables Purchase Agreement, any such Seller's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Lci International Inc /Va/)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a successor Collection Agent (other than CompuCom) pursuant to Section 6.16.1 hereof: (ia) The Deal Agent may may, at its option, or shall, at the direction of the Required Liquidity Banks, direct that payment of all amounts payable under the Receivables any Transferred Receivable be made directly to the Company Deal Agent or its designeedesignee for the benefit of the Investors. (iib) Each of the The Transferor and the Collection Agent shall, at the CompanyDeal Agent's request and at the Transferor's expense, give notice of the Company's ownership of the Receivables to each Obligor of a Transferred Receivable and direct that payments in respect thereof be made directly to the Deal Agent or its designee. (iiic) Each of The Transferor shall, at the Transferor and the Collection Agent shall Deal Agent's request, (Ai) assemble all of the RecordsRecords of a Transferred Receivable, and shall make the same available to the Deal Agent or its designee at a place selected by the Deal Agent or its designee, and (Bii) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Transferred Receivables in a manner acceptable to the Deal Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Deal Agent or its designee. (ivd) Each of the The Transferor and the Collection Agent hereby authorizes the Deal Agent to take any and all steps in each of the Transferor's and the Collection Agent's name and on behalf of each of the Transferor and CompuCom necessary or desirable, in the determination of the Deal Agent, to collect all amounts due under the any and all Transferred Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections relating to Transferred Receivables and enforcing such Transferred Receivables and the related ContractsCredit Card Agreements.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Metris Companies Inc)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComthe Transferor, WorldCom or any Affiliate of the Transferor or WorldCom) pursuant to Section 6.16.1 hereof: (i) The Agent may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Agent or its designee. (ii) Each of the The Transferor and the Collection Agent shall, at the CompanyAgent's request and at the Transferor's expense, give notice of the CompanyAgent's ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Agent or its designee. (iii) Each of The Transferor shall, at the Transferor and the Collection Agent shall Agent's request, (A) assemble all of the Records, and shall make the same available to the Agent or its designee at a place selected by the Agent or its designee, and (B) 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 shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee. (iv) Each of the The Transferor and the Collection Agent WorldCom hereby authorizes authorize the Agent to take any and all steps in each of the Transferor's and the Collection Agentor WorldCom's name and on behalf of each of the Transferor and CompuCom WorldCom necessary or desirable, in the determination of the Agent, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's or WorldCom's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Worldcom Inc /Ga/)

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Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a successor Collection Agent (other than CompuCom) pursuant to Section 6.1:6.1 hereof: ----------- (ia) The Deal Agent may may, at its option, or shall, at the direction of the Required Liquidity Banks, direct that payment of all amounts payable under the Receivables any Transferred Receivable be made directly to the Company Deal Agent or its designeedesignee for the benefit of the Investors. (iib) Each of the The Transferor and the Collection Agent shall, at the CompanyDeal Agent's request and at the Transferor's expense, give notice of the Company's ownership of the Receivables to each Obligor of a Transferred Receivable and direct that payments in respect thereof be made directly to the Deal Agent or its designee. (iiic) Each of The Transferor shall, at the Transferor and the Collection Agent shall Deal Agent's request, (Ai) assemble all of the RecordsRecords of a Transferred Receivable, and shall make the same available to the Deal Agent or its designee at a place selected by the Deal Agent or its designee, and (Bii) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Transferred Receivables in a manner acceptable to the Deal Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Deal Agent or its designee. (ivd) Each of the The Transferor and the Collection Agent hereby authorizes the Deal Agent to take any and all steps in each of the Transferor's and the Collection Agent's name and on behalf of each of the Transferor and CompuCom necessary or desirable, in the determination of the Deal Agent, to collect all amounts due under the any and all Transferred Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections relating to Transferred Receivables and enforcing such Transferred Receivables and the related ContractsCredit Card Agreements.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Metris Companies Inc)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComthe Transferor) pursuant to Section 6.1: (i) The Agent Company may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company or its designee. (ii) Each of the The Transferor and the Collection Agent shall, at the Company's request and at the Transferor's expense, give notice of the Company's ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Agent Company or its designee. (iii) Each of The Transferor shall, at the Transferor and the Collection Agent shall Company's request, (A) assemble all of the Records, and shall make the same available to the Agent Company at a place selected by the Agent Company or its designee, and (B) 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 Company and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent Company or its designee. (iv) Each of the The Transferor and the Collection Agent hereby authorizes the Agent Company to take any and all steps in each of the Transferor's and the Collection Agent's name and on behalf of each of the Transferor and CompuCom necessary or desirable, in the determination of the AgentCompany, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Imc Global Inc)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuCom) TriMas Corp., any Seller or the Transferor pursuant to the penultimate sentence of Section 6.16.01 hereof: (i) The the Administrative Agent may may, at its option, or shall, at the direction of the Required Purchasers, direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Administrative Agent or its designee.designee for the benefit of the Purchasers; (ii) Each of the Transferor and the Collection Agent shall, at the Company's Administrative Agent’s request and at the Transferor's ’s expense, give notice of the Company's Transferor’s and/or the Purchasers’ ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Administrative Agent or its designee.; (iii) Each of the Transferor and shall, at the Collection Agent shall Administrative Agent’s request, (A) assemble all of the Records, and shall make the same available to the Administrative Agent or its designee at a place selected by the Administrative Agent or its designee, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Administrative Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Administrative Agent or its designee. (iv) Each of the Transferor and the Collection Agent hereby authorizes the Agent to take any and all steps in each of the Transferor's and the Collection Agent's name and on behalf of each of the Transferor and CompuCom necessary or desirable, in the determination of the Agent, to collect all amounts due under the Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.; and

Appears in 1 contract

Samples: Receivables Transfer Agreement (Trimas Corp)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComUAC) pursuant to Section 6.1: (ia) The Deal Agent may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company Collateral Agent or its any designee. (iib) Each of the Transferor and the Collection Agent The Debtor shall, at the CompanyDeal Agent's request and at the TransferorDebtor's expense, give notice of the CompanyCollateral Agent's ownership of interest in the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Collateral Agent or its designee. (iiic) Each of The Debtor shall, at the Transferor and the Collection Agent shall Deal Agent's request, (Ai) assemble all of the Records, and shall make the same available to the Collateral Agent at a place selected by the Collateral Agent or its any designee, and (Bii) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to the Collateral Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Collateral Agent or its designee. (ivd) Each of the Transferor and the Collection Agent The Debtor hereby authorizes the Collateral Agent to take any and all steps in each of the Transferor's and the Collection AgentDebtor's name and on behalf of each of the Transferor and CompuCom Debtor necessary or desirable, in the determination of the Collateral Agent, to collect all amounts due under the Receivablesany and all Receivables and Related Security with respect thereto, including, without limitation, endorsing the TransferorDebtor's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Security Agreement (Union Acceptance Corp)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation of a Collection Agent (other than CompuComthe Transferor, the Seller or any Affiliate of the Transferor or the Seller) pursuant to Section 6.16.1 hereof: (i) The Agent may direct that payment of all amounts payable under the Receivables be made directly to the Company or its designee. (ii) Each of the Transferor and the Collection Agent shall, at the Company's request and at the Transferor's expense, give notice of the Company's ownership of the Receivables to each Obligor and direct that payments in respect thereof any Receivable be made directly to the Agent or its designee. (ii) In the event that a Termination Event has occurred, the Transferor shall, at the Agent's request and at the Transferor's expense, direct that payments be made directly by each Obligor to the Agent or its designee, and, if necessary, give notice of the Agent's, the Transferor's and/or the Bank Investors' ownership of Receivables to each Obligor. (iii) Each of The Transferor shall, at the Transferor and the Collection Agent shall Agent's request, (A) assemble all of the Records, and shall make the same available to the Agent or its designee at a place selected by the Agent or its designee, and (B) 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 shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee. (iv) Each of the The Transferor and the Collection Agent Seller hereby authorizes authorize the Agent to take any and all lawful steps in each of the Transferor's and the Collection Agentor Seller's name and on behalf of each of the Transferor and CompuCom the Seller necessary or desirabledesirable and reasonable, in the determination of the Agent, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's or Seller's name on checks and other instruments representing Collections and enforcing such Receivables and the related ContractsAccount Agreements, and the Transferor and the Seller shall request any third party holding any Records to provide the Agent with access to such Records to same extent as the Transferor and Seller have such access.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Metris Companies Inc)

Rights After Designation of New Collection Agent. At any ------------------------------------------------ time following the designation designaion of a Collection Agent (other than CompuComthe Transferor, the Seller or any Affiliate of the Transferor or the Seller) pursuant to Section 6.1: (i) The Agent Company may direct that payment of all amounts payable under the Receivables any Receivable be made directly to the Company or its designee. (ii) Each of the The Transferor and the Collection Agent shall, at the Company's request and at the Transferor's expense, give notice of the Company's ownership of the Receivables to each Obligor and direct that payments in respect thereof be made directly to the Agent Company or its designee. (iii) Each of The Transferor shall, at the Transferor and the Collection Agent shall Company's request, (A) assemble all of the Records, and shall make the same available to the Agent Company at a place selected by the Agent Company or its designee, and (B) 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 Company and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent Company or its designee. (iv) Each of the The Transferor and the Collection Agent Seller hereby authorizes authorize the Agent Company to take any and all steps in each of the Transferor's and the Collection Agentor Seller's name and on behalf of each of the Transferor and CompuCom the Seller necessary or desirable, in the determination of the AgentCompany, to collect all amounts due under the any and all Receivables, including, without limitation, endorsing the Transferor's or Seller's name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts.

Appears in 1 contract

Samples: Transfer and Administration Agreement (Imc Global Inc)

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