Agreements Regarding Collections. (a) Collections. Debtor agrees to collect Payments under all Contracts which are the subject of Loans. Debtor will undertake such collections as owner or servicer and not as Secured Party's agent, and in connection therewith will, at its sole cost and expense, diligently perform all billing and collecting for amounts due and to become due with respect to such Contracts. Debtor shall xxxx obligors in accordance with its standard billing procedures.
Agreements Regarding Collections. You agree to promptly notify the Obligor-licensee under each Contract purchased by us, and obtain the Obligor-licensee’s written acknowledgment, of the fact of such purchase and direct each such Obligor-licensee, thenceforth, to make all payments directly to us. If, despite such direction, you subsequently receive a Payment on account of a Contract sold to us, you agree to hold the amount in trust for us and immediately forward the Payment to us in kind. You hereby authorize us to endorse, in writing or by stamp, in your name or otherwise any and all checks, drafts, notes, bills of exchange and orders, howsoever received by us, representing any Payment under any Contract purchased by us. We may take or fail to take whatever action with respect to collections under Contracts purchased by us as we, in our sole discretion, shall deem proper. Regardless of what collection action we may or may not take, the provisions of paragraphs 10 and 11 will remain in force and shall be unaffected by any such action or failure to act. Sales and use taxes, and other taxes of a similar nature which we may hereafter specifically agree to bill and collect, will be billed for by us in accordance with your reasonable instructions and collected by us using our normal collection methods. Upon our receipt thereof, such taxes shall be remitted to you monthly for payment to the appropriate taxing authorities. You shall at all times remain responsible for the preparation and filing of all state and local tax returns applicable to such taxes and for the actual payment thereof and for the billing, collection and payment of, and the filing of returns with respect to, all other taxes, imposts, fines and fees charged or assessed with respect to the Contracts, Payments and/or Software.
Agreements Regarding Collections
