Common use of VERIFICATION AND NOTIFICATION; BANK'S RIGHTS Clause in Contracts

VERIFICATION AND NOTIFICATION; BANK'S RIGHTS. Bank may verify Collateral in any manner, and Debtor shall assist Bank in so doing. Upon the occurrence of a default hereunder, Bank may at any time and Debtor shall, upon request of Bank, notify the account debtors to make payment directly to Bank; and Bank may enforce collection of, sell, settle, compromise, extend or renew the indebtedness of such account debtors; all without notice to or the consent of Debtor. Until account debtors are so notified, Debtor, as agent of Bank, shall make collections on the Collateral. Bank may at any time notify any bailee possessing Collateral to turn over the Collateral to Bank.

VERIFICATION AND NOTIFICATION; BANK'S RIGHTS. Bank may verify Collateral in any manner, and Debtor Borrowers shall assist Bank in so doing. Upon During the occurrence existence of a default hereunder, Bank may at any time and Debtor Borrowers shall, upon request of Bank, notify the account debtors to make payment directly to Bank; and Bank may enforce collection of, sell, settle, compromise, extend or renew the indebtedness of such account debtors; all without notice to or the consent of DebtorBorrowers. Until such account debtors are so notified, DebtorBorrowers, as agent agents of Bank, shall make collections on the Collateral. Bank may at any time notify any bailee possessing Collateral to turn tum over the Collateral to Bank.