Rights of the Bank Collections Agent following a Termination Event. (a) The Bank Collections Agent is authorized at any time after the occurrence of a Termination Event to deliver to the Collection Account Bank the notice of effectiveness provided for in the Account Control Agreement. The Funding Seller hereby transfers to the Bank Collections Agent the exclusive control of the Collection Account, subject only to the Bank Collections Agent’s delivery of such notice of effectiveness. The Funding Seller shall take any actions reasonably requested by the Bank Collections Agent to effect such transfer of control of the Collection Account to the Purchaser. All amounts in the Collection Account will be distributed on each Settlement Date in accordance with Section 2.7.
Appears in 4 contracts
Samples: Master Receivables Purchase Agreement (T-Mobile US, Inc.), Master Receivables Purchase Agreement (T-Mobile US, Inc.), Master Receivables Purchase Agreement (T-Mobile US, Inc.)
