Common use of Rights of Collateral Agent Clause in Contracts

Rights of Collateral Agent. The Seller hereby agrees that, upon notice to the Seller, the Collateral Agent or the Liquidity Banks may exercise all the rights of the Agent and Purchaser hereunder, with respect to the Asset Interest (or any portions thereof), and Collections with respect thereto, which are owned by the Purchaser, and all other rights and interests of the Purchaser in, to or under this Agreement or any other Transaction Document. Without limiting the foregoing, upon such notice or at any time thereafter (but subject to any conditions applicable to the exercise of such rights by the Agent), the Collateral Agent or the Liquidity Banks may request the Master Servicer to segregate the Purchaser's allocable share of Collections from the Seller's allocable share, may give a Successor Notice pursuant to and in accordance with Section 8.1(b), may give or require the Agent to give notice to the Lock-Box Banks as referred to in Section 8.3(b) and may direct the Obligors of Pool Receivables to make payments in respect thereof directly to an account designated by them, in each case, to the same extent as the Agent might have done.

Rights of Collateral Agent. The Seller hereby agrees that, upon notice to the Seller, the Collateral Agent or the Liquidity Banks may exercise all the rights of the Agent Administrator and Purchaser hereunder, with respect to the Asset Interest (or any portions thereof), and Collections with respect thereto, which are owned by the Purchaser, and all other rights and interests of the Purchaser in, to or under this Agreement or any other Transaction Document. Without limiting the foregoing, upon such notice or at any time thereafter (but subject to any conditions applicable to the exercise of such rights by the AgentAdministrator), the Collateral Agent or the Liquidity Banks may request the Master Servicer to segregate the Purchaser's allocable share shares of Collections from the Seller's allocable share, may give a Successor Notice pursuant to and in accordance with Section 8.1(b8.01(b), may give or require the Agent Administrator or Relationship Bank to give notice to the Lock-Box Banks as referred to in Section 8.3(b8.03(b) and may direct the Obligors of Pool Receivables to make payments in respect thereof directly to an account designated by them, in each case, to the same extent as the Agent Administrator might have done.

Rights of Collateral Agent. The Seller hereby agrees that, upon notice to the Seller, the Collateral Agent or the Liquidity Banks may exercise all the rights of the Agent and Purchaser hereunder, with respect to the Asset Interest (or any portions thereof), and Collections with respect thereto, which are owned by the Purchaser, and all other rights and interests of the Purchaser in, to or under this Agreement or any other Transaction Document. Without limiting the foregoing, upon such notice or at any time thereafter (but subject to any conditions applicable to the exercise of such rights by the Agent), the Collateral Agent or the Liquidity Banks may request the Master Servicer to segregate the Purchaser's allocable share of Collections from the Seller's allocable share, may give a Successor Notice pursuant to and in accordance with Section 8.1(b), may give or require the Agent to give notice to the Lock-Box Banks as referred to in Section 8.3(b) and may direct the Obligors of Pool Receivables to make payments in respect thereof directly to an account designated by them, in each case, to the same extent as the Agent might have done.. 44