Common use of Verification and Notification Clause in Contracts

Verification and Notification. Secured Party may verify accounts, chattel paper and contract rights in any manner, and Debtor shall assist Secured Party in so doing. Secured Party may at any time and Debtor shall, upon request of Secured Party, notify the account debtors to make payment directly to Secured Party and Secured Party may enforce collection of, settle, compromise, extend or renew the indebtedness of such account debtors. Until account debtors are otherwise notified, Debtor, as agent of Secured Party, shall make collections on the Collateral.

Verification and Notification. Secured Party may confirm and verify accounts, chattel paper and contract rights all Receivables in any manner, and Debtor Debtors shall assist Secured Party in so doing. Notwithstanding the existence of any Lock Box Service Agreement, Secured Party may at any time and Debtor shallnotify, upon request or require Debtors to notify, all Customers or any of Secured Party, notify the account debtors them to make payment directly to Secured Party Party, and Secured Party may enforce collection of, settle, compromise, extend or renew the indebtedness of such account debtors. Until account debtors are otherwise notified, Debtor, as agent any or all Customers without liability of Secured Party, shall make collections on the Collateralany kind.