Common use of Administration of Receivables Clause in Contracts

Administration of Receivables. (a) Consistent with BSF's ownership of the Receivables, BSF shall be responsible for servicing, administering and collecting the Receivables, and the Seller, as seller, shall have no obligation whatsoever in this regard; provided that nothing shall prevent BSF from engaging the services of any Person, including BSC, to service, administer and collect the Receivables as Servicer. The Seller hereby grants to BSF an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the Seller all steps necessary or desirable, as determined by BSF, to collect all amounts due under any Receivable, including, without limitation, endorsing the name of the Seller on checks and other instruments representing Collections, enforcing such Receivables and the related Contracts, and adjusting, settling or compromising the amount or payment thereof, in the same manner and to the same extent as the Seller would have been entitled. (b) Upon BSF's request, the Seller shall promptly deliver or make available to BSF all records relating to the Receivables, and, in either case, shall hold all such records in trust for BSF. The Seller will clearly indicate in its corporate records that Receivables are owned by BSF or otherwise mark its records relating to Receivables w▇▇▇ a legend evidencing that BSF has purchased and owns such Receivables. (c) The Seller shall hold in trust for the benefit of the Buyers any Collections received directly by the Seller with respect to any Receivables and shall deposit such Collections in the Collection Account within two Business Days of the receipt thereof.

Administration of Receivables. (a) Consistent with BSF's ownership of CPFC shall, or shall cause the ReceivablesServicer to (in which event the Servicer shall), BSF shall be responsible for servicing, administering maintain all books and collecting the Receivables, and the Seller, as seller, shall have no obligation whatsoever in this regard; provided that nothing shall prevent BSF from engaging the services of any Person, including BSC, records relating to service, administer and collect the Receivables as Servicer. The Seller hereby grants to BSF an irrevocable power of attorneymay be necessary or advisable for the administration, with full power of substitution, coupled with an interest, to take in the name servicing and collection of the Seller all steps necessary or desirable, as determined by BSF, to collect all amounts due under any Receivable, Receivables (including, without limitation, endorsing duplicate records and/or system redundancy so as to enable the name reconstruction of the Seller on checks and other instruments representing Collections, enforcing such Receivables and the related Contracts, and adjusting, settling or compromising the amount or payment thereof, essential records in the same manner event of any reasonably foreseeable casualty) and all other information necessary to establish or evidence the Buyers' right, title and interest in and to the same extent as Purchased Interest, such records and information to be prepared and maintained in a manner and utilizing procedures no less adequate than the Seller would have been entitledmanner and procedures in effect on the date hereof. The Servicer shall not encumber, or permit any party other than the Buyers to encumber, any right, title or interest in such books and records. All Receivables will be identified under one or more computer codes not used for any other accounts receivable or any other accounting items of CPFC or any other Person and will be readily identifiable and otherwise segregated from all other accounts receivable and other accounting items of CPFC, the Seller, the Servicer and any other Person. Any printout listing the Receivables will indicate that CPFC owns the Receivables and that the Buyers own the Purchased Interest in the Receivables. (b) Upon BSF's requestThe administration, servicing and collection of the Seller Receivables shall promptly deliver or make available to BSF all records relating be the responsibility of the Servicer. Until a Servicing Transfer shall have occurred, CPC will act as Servicer. The Servicer shall, to the Receivablesfullest extent permitted by law, andhave the power and authority, on behalf of CPFC, to take such actions in either case, shall hold all respect of any such records in trust for BSFReceivable as the Servicer may deem advisable and are consistent with the terms of this Agreement. The Seller will clearly indicate Servicer agrees to exercise the same degree of skill and care and apply the same standards, policies, procedures and diligence that it would apply to the performance of the same functions with respect to its own accounts receivable. The Servicer shall comply in all material respects with all applicable legal requirements in the performance of its corporate records that Receivables are owned by BSF or otherwise mark its records relating to Receivables w▇▇▇ a legend evidencing that BSF has purchased administrative, servicing and owns such Receivablescollection functions hereunder. (c) CPFC will at all times observe and perform, or cause to be observed and performed, all obligations and undertakings to the Obligors arising in connection with each Receivable and the related Contract. The Seller Servicer shall hold endeavor to collect or cause to be collected from the Obligor under each Receivable, as and when due, all amounts payable thereunder in trust for accordance with the benefit Credit and Collection Policy. Neither CPFC nor the Servicer shall do anything to modify the terms of any Receivable, except in accordance with the Credit and Collection Policy, if such modification would materially adversely affect CPFC or cause a Termination Event, or would materially impair the rights of the Buyers in and to the Purchased Interest; PROVIDED that (i) CPFC or the Servicer may grant, or permit to be granted, to the Obligor under any Collections received directly by Receivable, any Dilution Factor which the Seller Servicer in good faith believes is justified, subject to the provisions of Section 3.9(c), and (ii) the Servicer may take or permit to be taken such action to collect Receivables as it may deem advisable, including resale of any repossessed, returned or rejected goods and rescheduling through extension or otherwise of payments due under any Receivable so long as such action is consistent with respect the Servicer's historical collection practices as modified from time to any Receivables and shall deposit such Collections time in the Collection Account within two Business Days of the receipt thereofaccordance with this Section.

Administration of Receivables. Credit Parties shall administer their Receivables in a commercially reasonable manner and consistent in all respects with the terms of this Agreement and the other Loan Documents and the rights of Lender granted hereunder and thereunder. Without limiting any other provisions of the Loan Documents, the obligations of Credit Parties relative to the Receivables shall include, without limitation: (a) Consistent Preparation and submission of claims to, and post-billing liaison with, Obligors; (b) Arranging for direct remittance of all payments on Receivables (except as provided in Section 5.2 with BSF's ownership respect to Fee-For-Services Receivables) to the applicable Lockbox or Lockbox Account and causing all available funds in each such Lockbox Account to be transferred each Business Day to the Concentration Account; (c) Remitting any payments received by Credit Parties with respect to Receivables directly for deposit in the applicable Lockbox or Lockbox Account (except as provided in Section 5.2 with respect to Fee-For-Service Receivables) no later than by the end of the Receivables, BSF shall day of receipt or the following Business Day if the day of receipt is not a Business Day and causing all available funds in each such Lockbox Account to be responsible for servicing, administering transferred each Business Day to the Concentration Account; (d) Maintaining and collecting the Receivables, implementing administrative and the Seller, as seller, shall have no obligation whatsoever in this regard; provided that nothing shall prevent BSF from engaging the services of any Person, including BSC, to service, administer and collect the Receivables as Servicer. The Seller hereby grants to BSF an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the Seller all steps necessary or desirable, as determined by BSF, to collect all amounts due under any Receivable, operating procedures (including, without limitation, endorsing an ability to re-create records evidencing the name Receivables in the event of the Seller on checks destruction of the originals thereof) and keeping and maintaining all documents, books, records and other instruments representing Collectionsinformation reasonably necessary or advisable for the collection of the Receivables (including, enforcing such without limitation, records adequate to permit the identification of new Receivables and the related Contractsall Collections of and adjustments to existing Receivables); (e) Complying in all material respects with all Requirements of Law applicable to it, its business and properties, and adjusting, settling or compromising the amount or payment thereof, in the same manner all Receivables and to the same extent as the Seller would have been entitled.related contracts and Collections; (bf) Upon BSF's requestNotifying Lender in accordance with Section 7.6(c) of any action, the Seller shall promptly deliver suit, proceeding, dispute, Offset, deduction, defense or make available to BSF all records relating to the Receivables, and, in either case, shall hold all such records in trust for BSF. The Seller will clearly indicate in its corporate records counterclaim that Receivables are owned is or may be asserted by BSF or otherwise mark its records relating to Receivables w▇▇▇ a legend evidencing that BSF has purchased and owns such Receivables. (c) The Seller shall hold in trust for the benefit of the Buyers any Collections received directly by the Seller an Obligor with respect to any Receivables; and (g) Providing Lender with the Receivables and shall deposit such Collections in Information, Revolving Credit Borrowing Base Certificates, or any other report required by Lender under the Collection Account within two Business Days terms of the receipt thereofthis Agreement.

Administration of Receivables. (a) Consistent with BSFCPFC's ownership of the Receivables, BSF CPFC shall be responsible for servicing, administering and collecting the Receivables, and the Seller, as seller, shall have no obligation whatsoever in this regard; provided PROVIDED that nothing shall prevent BSF CPFC from engaging the services of any Person, including BSCCPC, to service, administer and collect the Receivables as Servicer. The Seller hereby grants to BSF CPFC an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the Seller all steps necessary or desirable, as determined by BSFCPFC, to collect all amounts due under any Receivable, including, without limitation, endorsing the name of the Seller on checks and other instruments representing Collections, enforcing such Receivables and the related Contracts, and adjusting, settling or compromising the amount or payment thereof, in the same manner and to the same extent as the Seller would have been entitled. (b) Upon BSFCPFC's request, the Seller shall promptly deliver or make available to BSF CPFC all records relating to the Receivables, and, in either case, shall hold all such records in trust for BSFCPFC. The Seller will clearly indicate in its corporate records that Receivables are owned by BSF CPFC or otherwise mark ▇▇▇▇ its records relating to Receivables w▇▇▇ with a legend evidencing that BSF CPFC has purchased and owns such Receivables. (c) The Seller shall hold in trust for the benefit of the Buyers any Collections received directly by the Seller with respect to any Receivables and shall deposit such Collections in the Collection Account within two Business Days of the receipt thereof.