Collect Accounts Clause Samples
The 'Collect Accounts' clause authorizes a party, typically a lender or creditor, to collect outstanding accounts receivable owed to the other party, usually a borrower or debtor. In practice, this clause may allow the lender to directly contact customers of the debtor to collect payments or to take control of the debtor’s receivables in the event of default. Its core function is to provide a mechanism for the lender to recover funds and minimize losses if the borrower fails to meet their obligations, thereby allocating risk and ensuring the lender has a means of recourse.
Collect Accounts. Notify (whether in its own name or in the name of any Debtor) the account debtors under any Accounts of any or all Debtors of the assignment of such Accounts to the Creditor and direct such account debtors to make payment of all amounts due or to become due to any or all Debtors with respect to such Accounts directly to the Creditor and, upon such notification and at the expense of any such Debtor, enforce collection of any such Accounts, and adjust, settle or compromise the amount or payment of such Accounts, in such manner and to such extent as the Creditor deems appropriate in the circumstances.
Collect Accounts. Notify the account debtors under any Accounts of the Debtor of the assignment of such Accounts to the Creditor and direct such account debtors to make payment of all amounts due or to become due to the Debtor in respect of such Accounts directly to the Creditor and, upon such notification and at the expense of the Debtor, enforce collection of any such Accounts, and adjust, settle or compromise the amount or payment of such Accounts, in such manner and to such extent as the Creditor deems appropriate in the circumstances.
Collect Accounts. Notify (whether in its own name or in the name of the Borrower) the account debtors under any Accounts of the Borrower of the assignment of such Accounts to the Administrative Agent and direct such account debtors to make payment of all amounts due or to become due to the Borrower with respect to such Accounts directly to the Administrative Agent and, upon such notification and at the expense of the Borrower, enforce collection of any such Accounts, and adjust, settle or compromise the amount or payment of such Accounts, in such manner and to such extent as the Administrative Agent deems appropriate in the circumstances.
Collect Accounts. Notify the account debtors or obligors under any Accounts of the assignment of such Accounts to the Administrative Agent and direct such account debtors or obligors to make payment of all amounts due or to become due to the Debtor in respect of such Accounts directly to the Administrative Agent and, upon such notification and at the expense of the Debtor, enforce collection of any such Accounts, and adjust, settle or compromise the amount or payment of such Accounts, in such manner and to such extent as the Administrative Agent deems appropriate in the circumstances. Transfer of Securities. Transfer any Securities forming part of the Collateral into the name of the Administrative Agent or its nominee, disclosing that the Securities are subject to the Security Interests arising under this Agreement.
Collect Accounts. Notify (whether in its own name or in the name of the Debtor) the account debtors under any Accounts of the Debtor of the assignment of such Accounts to the Secured Party and direct such account debtors to make payment of all amounts due or to become due to the Debtor with respect to such Accounts directly to the Secured Party and, upon such notification and at the expense of the Debtor, enforce collection of any such Accounts, and adjust, settle or compromise the amount or payment of such Accounts, in such manner and to such extent as the Secured Party deems appropriate in the circumstances. (k)
Collect Accounts. Upon written notice to the Debtor of its intention to do so, notify (whether in its own name or in the name of the Debtor) the account debtors under any Accounts of the Debtor of the assignment of such Accounts to the Creditor and direct such account debtors to make payment of all amounts due or to become due to the Debtor in respect of such Accounts directly to the Creditor and, upon such notification and at the expense of the Debtor, enforce collection of any such Accounts, and adjust, settle or compromise the amount or payment of such Accounts, in the same manner and to the same extent as the Debtor might have done.
Collect Accounts. Notify (whether in its own name or in the name of the Debtor) the account debtors under any Accounts of such Debtor of the assignment of such Accounts to the Canadian Collateral Agent and direct such account debtors to make payment of all amounts due or to become due to such Debtor in respect of such Accounts directly to the Canadian Collateral Agent and, upon such notification and at the expense of such Debtor, enforce collection of any such Accounts, and adjust, settle or compromise the amount or payment of such Accounts, in such manner and to such extent as the Canadian Collateral Agent deems appropriate in the circumstances.
Collect Accounts. Notify the account debtors or obligors under any Accounts of such Chargor of the assignment of such Accounts to the Canadian DIP Collateral Agent and direct such account debtors or obligors to make payment of all amounts due or to become due to such Chargor in respect of such Accounts directly to the Canadian DIP Collateral Agent and, upon such notification and at the expense of such Chargor, enforce collection of any such Accounts, and adjust, settle or compromise the amount or payment of such Accounts, in such manner and to such extent as the Canadian DIP Collateral Agent deems appropriate in the circumstances.
Collect Accounts. Lender may demand, collect, and s▇▇ for all amounts owed pursuant to Accounts, General Intangibles, Chattel Paper, Instruments, or Documents or for proceeds of any Collateral (either in the applicable Obligor’s name or Lender’s name at Lender’s option), with the right to enforce, compromise, settle, or discharge any such amounts.