Common use of Notifying Account Debtors and Other Obligors; Collection of Collateral Clause in Contracts

Notifying Account Debtors and Other Obligors; Collection of Collateral. ▇▇▇▇▇ Fargo may at any time during a Default Period deliver a Record giving an account debtor or other Person obligated to pay an Account, a General Intangible, or other amount due, notice that the Account, General Intangible, or other amount due has been assigned to ▇▇▇▇▇ Fargo for security and must be paid directly to ▇▇▇▇▇ Fargo. Company shall join in giving such notice and shall Authenticate any Record giving such notice upon ▇▇▇▇▇ Fargo’s request. After Company or ▇▇▇▇▇ Fargo gives such notice, ▇▇▇▇▇ Fargo may, but need not, in ▇▇▇▇▇ Fargo’s or in Company’s name, demand, ▇▇▇ for, collect or receive any money or property at any time payable or receivable on account of, or securing, such Account, General Intangible, or other amount due, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any account debtor or other obligor.

Notifying Account Debtors and Other Obligors; Collection of Collateral. ▇During a Default Period, W▇▇▇▇ Fargo may at any time during a Default Period deliver a Record giving an account debtor or other Person obligated to pay an Account, a General Intangible, or other amount due, notice that the Account, General Intangible, or other amount due has been assigned to ▇W▇▇▇▇ Fargo for security and must be paid directly to ▇W▇▇▇▇ Fargo. Company shall join in giving such notice and shall Authenticate any Record giving such notice upon ▇W▇▇▇▇ Fargo’s 's request. After Company or ▇W▇▇▇▇ Fargo gives such notice, ▇W▇▇▇▇ Fargo may, but need not, in ▇W▇▇▇▇ Fargo’s 's or in Company’s 's name, demand, ▇s▇▇ for, collect or receive any money or property at any time payable or receivable on account of, or securing, such Account, General Intangible, or other amount due, or grant any extension to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any account debtor or other obligor.