Common use of Duties of Collection Agent Clause in Contracts

Duties of Collection Agent. The Collection Agent shall take or cause to be taken all such actions as may be reasonably necessary or advisable to collect each Pool Receivable from time to time, all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, and in accordance with the Credit and Collection Policy. The Seller and the Agent hereby appoint the Collection Agent, from time to time designated pursuant to Section 6.01, as agent for themselves and for the Investors and the Banks to enforce their respective rights and interests in the Pool Receivables, the Related Security and the related Contracts. In performing its duties as Collection Agent, the Collection Agent shall exercise the same care and apply the same policies as it would exercise and apply if it owned such Receivables and shall act in a manner consistent with the Credit and Collection Policy and in the best interests of the Seller, the Investors and the Banks.

Duties of Collection Agent. (a) The Collection Agent shall take or cause to be taken all such actions as may be reasonably necessary or advisable to collect each Pool Transferred Receivable from time to time, all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, and in accordance with the Credit and Collection Policy. The Seller and the Agent Purchaser hereby appoint appoints the Collection Agent, from time to time designated pursuant to Section 6.01, as agent for themselves and for the Investors and the Banks to enforce their respective its ownership and other rights and interests in the Pool Transferred Receivables, the Related Security and the related ContractsCollections with respect thereto. In performing its duties as Collection Agent, the Collection Agent shall exercise the same care and apply the same policies as it would exercise and apply if it owned such Receivables and shall act in a manner consistent with the Credit and Collection Policy and in the best interests of the Seller, the Investors and the Banks.and