Common use of Verifications; Confirmations; Credit Quality; Notifications Clause in Contracts

Verifications; Confirmations; Credit Quality; Notifications. Bank may, from time to time, (i) verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account and/or (ii) conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit. Notwithstanding the foregoing, provided no Event of Default has occurred or is continuing, Bank shall endeavor to provide notice to Borrower before contacting Account Debtors directly (with all parties hereto acknowledging that any failure to do so shall give rise to no liability of Bank).

Verifications; Confirmations; Credit Quality; Notifications. Bank may, from time to time, (i) verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account and/or (ii) conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit. Notwithstanding the foregoing, provided no Event of Default has occurred or is continuing, Bank shall endeavor to provide notice to Borrower before contacting Account Debtors directly (with all parties hereto acknowledging that any failure to do so shall give rise to no liability of Bank)directly.

Verifications; Confirmations; Credit Quality; Notifications. Bank may, from time to time, (i) verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account and/or (ii) conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit. Notwithstanding the foregoing, provided no Event of Default has occurred or is continuing, Bank shall endeavor to consult with and provide notice to Borrower before contacting Account Debtors directly (with all parties hereto acknowledging that any failure to do so shall give rise to no liability of Bank)directly.