Common use of Collection of the Collateral Clause in Contracts

Collection of the Collateral. Except as otherwise provided in this Section 8.04(b), the Borrower (or the Servicer on its behalf) shall continue to collect or cause to be collected, at its own expense and in the manner provided in this Agreement, all amounts due or to become due to the Borrower under the Receivables, the Borrower Assigned Agreements included in the Collateral and any other Collateral. In connection with such collections, the Borrower may take (and with the consent or at the Agent’s direction after an Event of Default has occurred and is continuing, shall take) such action as the Borrower, the Agent may deem necessary or advisable to enforce collection of the Receivables and the Borrower Assigned Agreements; provided, however, that at any time that an Event of Default has occurred and is continuing, the Agent may enforce collection of any such Receivables or the Borrower Assigned Agreements and adjust, settle or compromise the amount or payment thereof.

Collection of the Collateral. Except as otherwise provided in this Section 8.04(b), the Borrower (or the Servicer on its behalf) shall continue to collect or cause to be collected, at its own expense and in the manner provided in this Agreement, all amounts due or to become due to the Borrower under the Receivables, the Borrower Assigned Agreements included in the Collateral and any other Collateral. In connection with such collections, the Borrower may take (and with the consent or at the Agent’s direction after an Event of Default has occurred and is continuing, shall take) such action as the Borrower, the Agent may deem necessary or advisable to enforce collection of the Receivables and the Borrower Assigned Agreements; provided, however, that at any time that an Event of Default has occurred and is continuing, the Agent (at the direction of the Agent) may enforce collection of any such Receivables or the Borrower Assigned Agreements and adjust, settle or compromise the amount or payment thereof.