Common use of Rights on Servicer Transfer Event Clause in Contracts

Rights on Servicer Transfer Event. At any time following the designation of a Servicer other than the Transferor pursuant to SECTION 8.1: (a) The Agent may direct the Obligors of Pool Receivables, or any of them, to pay all amounts payable under any Pool Receivable directly to the Agent or its designee. (b) Servicer shall, and shall direct each Originator to, at the Agent's request and at the Servicer's expense, give notice of such ownership to each said Obligor and direct that payments be made directly to the Agent or its designee. (c) The Transferor shall, and shall direct each Originator to, at the Agent's request (with the written consent of the Agent), (A) assemble all of the documents, instruments and other records (including, without limitation, computer programs, tapes and disks) which evidence the Pool Receivables, and the related Contracts and Related Security, or which are otherwise necessary or desirable to collect such Pool Receivables, and shall make the same available to the Agent at a place selected by the Agent or its designee, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Pool Receivables in a manner acceptable to the Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee. (d) Each of the Transferor, the Purchaser and the Bank Investors, as the case may be, hereby authorizes the Agent to take any and all steps in the Transferor's name and on behalf of the Transferor and the Purchaser, the Bank Investors, as the case may be, which are necessary or desirable, in the determination of the Agent, to collect all amounts due under any and all Pool Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections and enforcing such Pool Receivables and the related Contracts.

Rights on Servicer Transfer Event. At any time following the designation of a Servicer other than the Transferor pursuant to SECTION Section 8.1: (a) The Agent may direct the Obligors of Pool Receivables, or any of them, to pay all amounts payable under any Pool Receivable directly to the Agent or its designee. (b) Servicer shall, and shall direct each Originator to, at the Agent's request and at the Servicer's expense, give notice of such ownership to each said Obligor and direct that payments be made directly to the Agent or its designee. (c) The Transferor shall, and shall direct each Originator to, at the Agent's request (with the written consent of the Agent), (A) assemble all of the documents, instruments and other records (including, without limitation, computer programs, tapes and disks) which evidence the Pool Receivables, and the related Contracts and Related Security, or which are otherwise necessary or desirable to collect such Pool Receivables, and shall make the same available to the Agent at a place selected by the Agent or its designee, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Pool Receivables in a manner acceptable to the Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee. (d) Each of the Transferor, the Purchaser and the Bank Investors, as the case may be, hereby authorizes the Agent to take any and all steps in the Transferor's name and 57 58 on behalf of the Transferor and the Purchaser, the Bank Investors, as the case may be, which are necessary or desirable, in the determination of the Agent, to collect all amounts due under any and all Pool Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections and enforcing such Pool Receivables and the related Contracts.

Rights on Servicer Transfer Event. At any time following the designation of a Servicer other than the Transferor Wackenhut pursuant to SECTION 8.1: (a) The Agent may direct the Obligors of Pool Receivables, or any of them, to pay all amounts payable under any Pool Receivable directly to the Agent or its designee. (b) Servicer shall, and shall direct the Seller and each Originator to, at the Agent's request and at the Servicer's expense, give notice of such ownership to each said Obligor and direct that payments be made directly to the Agent or its designee. (c) The Transferor shall, and shall direct the Seller and each Originator to, at the Agent's request (with the written consent of the Agent), (A) assemble all of the documents, instruments and other records (including, without limitation, computer programs, tapes and disks) which evidence the Pool Receivables, and the related Contracts and Related Security, or which are otherwise necessary or desirable to collect such Pool Receivables, and shall make the same available to the Agent at a place selected by the Agent or its designee, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Pool Receivables in a manner acceptable to the Agent and shall, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Agent or its designee. (d) Each of the Transferor, the Purchaser and the Bank Investors, as the case may be, hereby authorizes the Agent to take any and all steps in the Transferor's name and on behalf of the Transferor and the Purchaser, the Bank Investors, as the case may be, which are necessary or desirable, in the determination of the Agent, to collect all amounts due under any and all Pool Receivables, including, without limitation, endorsing the Transferor's name on checks and other instruments representing Collections and enforcing such Pool Receivables and the related Contracts.