Common use of Verification and Notification Clause in Contracts

Verification and Notification. The Agent shall have the right at any time and from time to time, (a) in the name of the Agent, the Lenders or in the name of any Obligor, to verify the validity, amount or any other matter relating to any Receivables by mail, telephone, telegraph or otherwise, (b) to review, audit and make extracts from all records and files related to any of the Receivables, and (c) to notify the Account Debtor under any Receivables of the assignment of such Receivables to the Agent, for the benefit of the Secured Creditors, and to direct such Account Debtor to make payment of all amounts due or to become due thereunder directly to the Agent, for the account of the Secured Creditors, and, upon such notification and at the expense of the Obligors, to enforce collection of any such Receivables and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as the Obligors might have done.