Common use of Collection of Transferred Receivables Clause in Contracts

Collection of Transferred Receivables. Except as otherwise provided in this Section 8.05, the Master Servicer shall continue to collect or cause to be collected, at its sole cost and expense, all amounts due or to become due to MRFC under the Transferred Receivables, the MRFC Assigned Agreements and any other MRFC Collateral. In connection therewith, MRFC and Master Servicer shall take such action as it, and from and after the occurrence and during the continuance of a Termination Event, the Administrative Agent, may deem necessary or desirable to enforce collection of the Transferred Receivables, the MRFC Assigned Agreements and the other MRFC Collateral; provided that if a Potential Termination Event or a Termination Event shall have occurred and be continuing, then the Administrative Agent may, without prior notice to MRFC or Master Servicer, notify or cause the Master Servicer to notify any Obligor under any Transferred Receivable or obligors under the MRFC Assigned Agreements of the assignment of such Transferred Receivables or MRFC Assigned Agreements, as the case may be, to the Administrative Agent on behalf of the Purchasers hereunder and direct that payments of all amounts due or to become due to MRFC thereunder be made directly to the Administrative Agent or any servicer, collection agent or lockbox or other account designated by the Administrative Agent and, upon such notification and at the sole cost and expense of MRFC and Master Servicer, the Administrative Agent may enforce collection of any such Transferred Receivable or the MRFC Assigned Agreements and adjust, settle or compromise the amount or payment thereof.