Common use of Servicing of Accounts Receivable Clause in Contracts

Servicing of Accounts Receivable. On and after each Borrowing Date, Transferee will have the sole right to receive all Collections with respect to all Transferred Receivables purchased by it or contributed to it on such Borrowing Date. The foregoing notwithstanding, Transferee and the Transferor agree to engage Sanmina’s services as initial Servicer for all the Transferred Receivables pursuant to the terms set forth in the Servicing Agreement. The Transferor agrees (i) to notify commencing on the Collection Account Effect Date all Account Debtors of its respective Transferred Receivables that pay by wire transfer, automated clearing house (“ACH”) entries, credits from merchant card transactions and other electronic funds transfers to tender all payments on such Transferred Receivables to the Collection Accounts and (ii) to notify commencing on the Lock-Box Effective Date all Account Debtors of its respective Transferred Receivables that pay by check, draft or other instrument to tender all payments on such Transferred Receivables to the Lock-Box, and in each case to cooperate fully with Servicer in all respects regarding the servicing of Transferred Receivables. During the Collection Account Ramp-Up Period and the Lock-Box Ramp-Up Period, Collections may be deposited into the Sanmina Accounts and the Sanmina Lockbox and the Servicer will be instructed to sweep all amounts deposited in the Sanmina Accounts and the Sanmina Lockbox into the Tranche A and Tranche B Collection Accounts on each Business Day. Collections will be deposited in the Collection Accounts on each Business Day. All collections on a Transferred Receivable received by a Person who is not the Obligee of such Account Receivable will be held in trust for the Obligee and promptly deposited into the Collection Accounts or delivered to Servicer for deposit by Servicer into the Collection Accounts. If an Account Debtor has indicated that a payment made by such Account Debtor is to be applied in respect of its obligations under a specified Account Receivable or in respect of other obligation of such Account Debtor owed to the Transferor, then the Transferor and the Transferee agree that such payment shall be applied as specified by the related Account Debtor; however, after an Account Debtor is in default of any payment obligation to the Transferee or the Transferor for more than 10 days, or after the related Account Debtor is insolvent, any such payment shall be applied to the principal amount of the Accounts Receivable of such Obligor in chronological order of Scheduled Maturity Dates.

Servicing of Accounts Receivable. (a) On and after each Borrowing Settlement Date, Transferee will Purchaser shall have the sole right to receive all Collections collections with respect to all Transferred Purchased Receivables it purchased by it or contributed to it on such Borrowing Settlement Date. The foregoing notwithstanding, Transferee Purchaser and the Transferor Seller agree to engage Sanmina’s Seller's services as initial Servicer for all the Transferred Purchased Receivables pursuant to the terms set forth in the Servicing Agreement. The Transferor Seller agrees (i) to notify commencing on the Collection Account Effect Date all Account Debtors of its respective Transferred Purchased Receivables that pay by wire transfer, automated clearing house (“ACH”) entries, credits from merchant card transactions and other electronic funds transfers to tender all payments on such Transferred Purchased Receivables to the Collection Accounts Lockbox and (ii) to notify commencing on the Lock-Box Effective Date all Account Debtors of its respective Transferred Receivables that pay by check, draft or other instrument to tender all payments on such Transferred Receivables to the Lock-Box, and in each case to cooperate fully with the Servicer in all respects regarding the servicing of Transferred the Purchased Receivables. During the Collection Account Ramp-Up Period and the Lock-Box Ramp-Up Period, Collections may be deposited into the Sanmina Accounts and the Sanmina Lockbox and the Servicer will be instructed to sweep all amounts deposited received in the Sanmina Accounts and the Sanmina Lockbox into the Tranche A and Tranche B Collection Accounts on each Business Day. Collections will shall be deposited in the Collection Accounts Purchaser's Account on each Business DayDay or at such other frequency as set forth in the agreements relating to the establishment and administration of the Lockbox. All collections on a Transferred an Account Receivable received by a Person who is not the Obligee of such Account Receivable will shall be held in trust for the Obligee and and, in the case of a Purchased Receivable, promptly deposited into the Collection Accounts Purchaser's Account or delivered to Servicer with proper endorsement for deposit by Servicer into the Collection Accounts. If an Account Debtor has indicated Purchaser's Account. (b) Purchaser and Seller acknowledge that a payment made by such Account Debtor is to be applied in respect of its obligations under a specified Account Receivable or in respect of other obligation of such Account Debtor owed to the Transferorcertain, then the Transferor and the Transferee agree that such payment shall be applied as specified by the related Account Debtor; howeverbut not necessarily all, after an Account Debtor is in default of any payment obligation to the Transferee or the Transferor for more than 10 days, or after the related Account Debtor is insolvent, any such payment shall be applied to the principal amount of the Accounts Receivable from time to time owing by a given Account Debtor may be sold to Purchaser and that each such Account Debtor may experience confusion at a given time over to whom it should make payment on such Accounts Receivable. To mitigate this risk of confusion and the associated delay in collecting such Obligor Accounts Receivable (both Purchased Receivables and Unsold Receivables), Purchaser and Seller agree that, with respect to those Account Debtors who have been pre-approved by the Underwriter and whose Accounts Receivable are nominally eligible for purchase by Purchaser, the Seller may direct such Account Debtors to make payment on Unsold Receivables to the Lockbox. Any items of payment or other collections on Unsold Receivables received into the Lockbox will be endorsed over to Purchaser and deposited in chronological order the Purchaser's Account and, on each Settlement Date, such items of Scheduled Maturity Datespayment and collections will be paid over to Seller, in full, in accordance with Seller's lawful instructions provided from time to time to Purchaser, Servicer, and Lender, to the extent such items of payment and other collections (i) have been reasonably identified as payment on an Unsold Receivable and (ii) have cleared the customary bank collection process for payments of like kind. Purchaser will direct Servicer to notify Purchaser, Seller, and Lender of any items of payment or other collections received in the Lockbox which are not identifiable as to any given Account Receivable, and Purchaser and Seller agree to cooperate in identifying the Person to whom such items of payment or other collections should be paid. If requested by Purchaser, Lender, or Servicer, Seller agrees from time to time to provide any of them with a listing of all Unsold Receivables with respect to which Seller has directed the Account Debtor thereof to make payment to the Lockbox. Seller agrees that the power of attorney granted to Purchaser under Section 2.8, above, shall apply with equal force to Unsold Receivables; provided, however, that none of Purchaser, Servicer, or Lender shall be under any obligation whatsoever to enforce payment of any Unsold Receivable and that none of Purchaser, Servicer, or Lender will have any duty or obligation with respect to any Unsold Receivable other than as expressly set forth in this Section 2.9. In the event any item of payment received with respect to an Unsold Receivable is paid over to Seller and, thereafter, such item is returned unpaid or uncollected, or the depository institution which made the funds available to Seller for such item of payment is by law forced to disgorge the amount thereof to any Person other than Seller, then such depository institution may offset against Purchaser's funds in the Purchaser's Account, and Seller shall promptly reimburse Purchaser in an amount equal thereto upon Seller's receipt of reasonably satisfactory evidence thereof.

Servicing of Accounts Receivable. (a) On and after each Borrowing Settlement Date, Transferee will Purchaser shall have the sole right to receive all Collections collections with respect to all Transferred Purchased Receivables it purchased by it or contributed to it on such Borrowing Settlement Date. The foregoing notwithstanding, Transferee Purchaser and the Transferor agree Seller agreed to engage SanminaSeller’s services as initial Servicer for all the Transferred Purchased Receivables pursuant to the terms set forth in the Servicing Agreement. The Transferor Seller agrees (i) to notify commencing on the Collection Account Effect Date all Account Debtors of its respective Transferred Purchased Receivables that pay by wire transfer, automated clearing house (“ACH”) entries, credits from merchant card transactions and other electronic funds transfers to tender all payments on such Transferred Purchased Receivables to the Collection Accounts Lockbox and (ii) to notify commencing on the Lock-Box Effective Date all Account Debtors of its respective Transferred Receivables that pay by check, draft or other instrument to tender all payments on such Transferred Receivables to the Lock-Box, and in each case to cooperate fully with the Servicer in all respects regarding the servicing of Transferred the Purchased Receivables. During the Collection Account Ramp-Up Period and the Lock-Box Ramp-Up Period, Collections may be deposited into the Sanmina Accounts and the Sanmina Lockbox and the Servicer will be instructed to sweep all amounts deposited received in the Sanmina Accounts and the Sanmina Lockbox into the Tranche A and Tranche B Collection Accounts on each Business Day. Collections will shall be deposited in the Collection Accounts Purchaser’s Account on each Business DayDay or at such other frequency as set forth in the agreements relating to the establishment and administration of the Lockbox. All collections on a Transferred an Account Receivable received by a Person who is not the Obligee of such Account Receivable will shall be held in trust for the Obligee and and, in the case of a Purchased Receivable, promptly deposited into the Collection Accounts Purchaser’s Account or delivered to Servicer with proper endorsement for deposit by Servicer into the Collection Accounts. If an Account Debtor has indicated Purchaser’s Account. (b) Purchaser and Seller acknowledge that a payment made by such Account Debtor is to be applied in respect of its obligations under a specified Account Receivable or in respect of other obligation of such Account Debtor owed to the Transferorcertain, then the Transferor and the Transferee agree that such payment shall be applied as specified by the related Account Debtor; howeverbut not necessarily all, after an Account Debtor is in default of any payment obligation to the Transferee or the Transferor for more than 10 days, or after the related Account Debtor is insolvent, any such payment shall be applied to the principal amount of the Accounts Receivable from time to time owing by a given Account Debtor may be sold to Purchaser and that each such Account Debtor may experience confusion at a given time over to whom it should make payment on such Accounts Receivable. To mitigate this risk of confusion and the associated delay in collecting such Obligor Accounts Receivable (both Purchased Receivables and Unsold Receivables), Purchaser and Seller agree that, with respect to those Account Debtors who have been pre-approved by the Underwriter and whose Accounts Receivable are nominally eligible for purchase by Purchaser, the Seller may direct such Account Debtors to make payment on Unsold Receivables to the Lockbox. Any items of payment or other collections on Unsold Receivables received into the Lockbox will be endorsed over to Purchaser and deposited in chronological order the Purchaser’s Account and, on each Settlement Date, such items of Scheduled Maturity Datespayment and collections will be paid over to Seller, in full, in accordance with Seller’s lawful instructions provided from time to time to Purchaser, Servicer, and Lender, to the extent such items of payment and other collections (i) have been reasonably identified as payment on an Unsold Receivable and (ii) have cleared the customary bank collection process for payments of like kind. Purchaser will direct Servicer to notify Purchaser, Seller, and Lender of any items of payment or other collections received in the Lockbox which are not identifiable as to any given Account Receivable, and Purchaser and Seller agree to cooperate in identifying the Person to whom such items of payment or other collections should be paid. If requested by Purchaser, Lender, or Servicer, Seller agrees from time to time to provide any of them with a listing of all Unsold Receivables with respect to which Seller has directed the Account Debtor thereof to make payment to the Lockbox. Seller agrees that the powers granted to Purchaser under Section 2.8, above, shall apply with equal force to Unsold Receivables; provided, however, that none of Purchaser, Servicer, or Lender shall be under any obligation whatsoever to enforce payment of any Unsold Receivable and that none of Purchaser, Servicer, or Lender will have any duty or obligation with respect to any Unsold Receivable other than as expressly set forth in this Section 2.9. In the event any item of payment received with respect to an Unsold Receivable is paid over to Seller and, thereafter, such item is returned unpaid or uncollected, or the depository institution which made the funds available to Seller for such item of payment is by law forced to disgorge the amount thereof to any Person other than Seller, then such depository institution may offset against Purchaser’s funds in the Purchaser’s Account, and Seller shall promptly reimburse Purchaser in an amount equal thereto upon Seller’s receipt of reasonably satisfactory evidence thereof.