Common use of Collections on the Receivables Clause in Contracts

Collections on the Receivables. The Lender shall be entitled with respect to all Receivables, (i) to receive and to hold as collateral all Receivables and all Collections on Receivables in accordance with the terms of the Depositary Agreement, and (ii) to the extent permitted by law and in a manner consistent with all applicable laws and regulations, to have and to exercise any and all rights (x) to collect, record, track and, during the continuance of an Event of Default, take all actions to obtain Collections with respect to all Receivables payable by Insurers and Private Payors, and (y) record, track and, during the continuance of an Event of Default, take all actions to obtain Collections with respect to all Receivables payable by Governmental Entities.