Linked Accounts. Except for any Permitted Linked Account, the Seller shall not permit any Linked Account to exist with respect to any Concentration Account; provided, however, that at any time during the continuance of an Event of Default, the Seller shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Seller’s or the Servicer’s receipt of such instruction.
Appears in 2 contracts
Sources: Receivables Purchase Agreement (Labcorp Holdings Inc.), Receivables Purchase Agreement (Labcorp Holdings Inc.)
Linked Accounts. Except for any Permitted Linked Account, the Seller shall not permit any Linked Account to exist with respect to any Concentration Collection Account; provided, however, that at any time during the continuance of an Event of Default, the Seller shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Seller’s or the Servicer’s receipt of such instruction.. SECTION 7.02
Appears in 1 contract
Sources: Receivables Purchase Agreement (Rackspace Technology, Inc.)
Linked Accounts. Except for any Permitted Linked Servicer Account, the Seller shall not permit any Linked Account to exist with respect to any Concentration Collection Account; provided, however, that at any time during the continuance of an Event of Default, the Seller shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Servicer Account to cease being a “Linked Account” Account promptly, but not later than two (2) Business Days Days, following the Seller’s or the Servicer’s receipt of such instruction.
Appears in 1 contract
Linked Accounts. Except for any Permitted Linked Account, the Seller shall not permit any Linked Account to exist with respect to any Concentration Collection Account; provided, however, that at any time during the continuance of an Event of Default, the Seller shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Seller’s or the Servicer’s receipt of such instruction.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Mativ Holdings, Inc.)
Linked Accounts. Except for any Permitted Linked Account, the Seller shall not permit any Linked Account to exist with respect to any Concentration Collection Account or any Excluded Account; provided, however, that at any time during the continuance of an Event of Default, the Seller shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Seller’s or the Servicer’s receipt of such instruction.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Fortrea Holdings Inc.)
Linked Accounts. Except for any Permitted Linked Account, the Seller shall not permit any Linked Account to exist with respect to any Concentration Collection Account; provided, however, that at any time during the continuance of an Event of Default, the Seller shall, if so instructed by the Administrative Agent (in its sole discretion), use commercially reasonable efforts to cause each Permitted Linked Account to cease being a “Linked Account” promptly, but but, to the extent the related Account Bank is agreeable, not later than two (2) Business Days following the Seller’s or the Servicer’s receipt of such instruction.
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