Xxxxxx’s Rights to the Collection Account Sample Clauses

Xxxxxx’s Rights to the Collection Account. Except as otherwise provided in Section 8.03(d), the Lender may, at any time and without notice to, or consent from, the Borrower, transfer, or direct the transfer of, funds from the Collection Account to satisfy the Borrower’s obligations under the Facility Documents if an Event of Default shall have occurred (as determined by Lender in its sole discretion).
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Related to Xxxxxx’s Rights to the Collection Account

  • Payments to Collection Account On or before the applicable Cut-Off Date, the Servicer shall have instructed all Obligors to make all payments in respect of the Collateral Portfolio directly to the Collection Account; provided that the Servicer is not required to so instruct any Obligor which is solely a guarantor or other surety (or an Obligor that is not designated as the “lead borrower” or another such similar term) unless and until the Servicer calls on the related guaranty or secondary obligation.

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