Sales of Lease Returned Devices Sample Clauses

Sales of Lease Returned Devices. So long as any Event of Termination, Collection Control Event, or Non-Reinvestment Event has occurred and is continuing, (i) the Servicer shall not sell, transfer, or otherwise dispose of any Lease Returned Device except with the prior written consent of the Administrative Agent, the Collateral Agent and the Required Purchasers, and (ii) all proceeds from the sale, transfer, or other disposition of any Lease Returned Device shall be applied (and the Servicer shall cause such proceeds to be applied) as Collections in accordance with Article III. The Servicer hereby grants to Administrative Agent and the Collateral Agent an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take, in the name of the Servicer, any and all steps which are necessary or advisable (as determined by the Administrative Agent or the Collateral Agent) to sell, transfer, or dispose of Lease Returned Devices and to apply the proceeds thereof as Collections in accordance with Article III at any time when an Event of Termination, Collection Control Event, or Non-Reinvestment Event has occurred and is continuing.
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Related to Sales of Lease Returned Devices

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