Common use of Collection Notices Clause in Contracts

Collection Notices. The Administrative Agent is authorized at any time (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrative Agent for the benefit of the Purchasers, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each Collection Account and control of each Lock-Box. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period to (A) endorse the Seller’s name on checks and other instruments representing Collections, (B) enforce the Receivables, the related Contracts and the Related Security and (C) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller.

Collection Notices. The Administrative Agent is authorized at any time (i) when after the occurrence and during the continuance of an Amortization Event exists or (ii) during a Level Three Enhancement Period, and upon the written direction of the Required Managing Agents to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrative Agent for the benefit of the Purchasers, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each Collection Account and control of each Lock-BoxBox and the Collection Accounts. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled after the occurrence and during the continuance of an Amortization Event to (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period to (A) endorse the Seller’s name on checks and other instruments representing Collections, (Bii) enforce the Receivables, the related Contracts and the Related Security and (Ciii) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller.

Collection Notices. The Administrative Agent is authorized at any time (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrative Agent for the benefit of the Purchasers, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each Collection Account and control of each Lock-Box. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period to (A) endorse the Seller’s name on checks and other instruments representing Collections, (B) enforce the Receivables, the related Contracts and the Related Security and (C) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller.

Collection Notices. The Administrative Agent is authorized at any time (i) when after the occurrence and during the continuance of an Amortization Event exists or (ii) during a Level Three Enhancement Period, and upon the written direction of the Required Managing Agents to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrative Agent for the benefit of the Purchasers, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each Lock‑Box and the Collection Account and control of each Lock-BoxAccounts. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled after the occurrence and during the continuance of an Amortization Event to (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period to (A) endorse the Seller’s name on checks and other instruments representing Collections, (Bii) enforce the Receivables, the related Contracts and the Related Security and (Ciii) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller.

Collection Notices. The Administrative Agent is authorized at any time (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrative Agent for the benefit of the Purchasers, effective when the Administrative Agent delivers such notice, Purchaser the exclusive ownership and control of each Collection Account and control of each Lock-BoxBox and the Collection Accounts; provided however, that the Seller shall retain the right to direct the disposition of funds from each of the Collection Accounts until the Agent delivers the applicable Collection Notice. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period at any time after delivery of the Collection Notices, to (A) endorse the Seller’s name on checks and other instruments representing Collections, (Bii) at any time after the occurrence of an Amortization Event, to enforce the Receivables, the related Contracts and the Related Security Security, and (Ciii) at any time after the occurrence of an Amortization Event, to take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller.

Collection Notices. The Administrative Agent (acting at the direction of at least two (2) Co-Agents) is authorized at any time (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrative Agent for the benefit of the Purchasers, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each Collection Account and control of each Lock-BoxBox and the Collection Accounts. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent (acting at the direction of at least two (2) Co-Agents) shall be entitled after the occurrence and during the continuance of an Amortization Event to (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period to (A) endorse Seller’s and the Sellerapplicable Originator’s name on checks and other instruments representing Collections, (Bii) enforce the Receivables, the related Contracts and the Related Security and (Ciii) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than Seller. If an Originator identifies, to the Sellersatisfaction of the Administrative Agent, any remittances received in any Lock-Box or Collection Account as not constituting Collections or other proceeds of the Receivables and Related Security, the Administrative Agent shall promptly remit (or instruct the applicable Collection Bank to remit) such remittances to such Originator.

Collection Notices. The Administrative Collateral Agent is authorized at any ------------------ time (i) when after the occurrence of an Amortization Event exists or (ii) during a Level Three Enhancement Periodwhich is not waived in writing by the Agents, to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrative Collateral Agent for the benefit of the Purchasers, effective when the Administrative Collateral Agent delivers such notice, the exclusive ownership and control of each Collection Account and control of each Lock-BoxBox and the Collection Accounts. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Collateral Agent, and agrees that the Administrative Collateral Agent shall be entitled after the occurrence of an Amortization Event to (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period to (A) endorse the Seller’s 's name on checks and other instruments representing Collections, (Bii) enforce the Receivables, the related Contracts and the Related Security and (Ciii) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent Collateral Agent, for the benefit of the Agents and the Purchasers, rather than the Seller.

Collection Notices. The Administrative Agent is authorized at any time (i) when ------------------ after the occurrence of an Amortization Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Banks the Collection Notices. The Seller Borrower hereby transfers to the Administrative Agent for the benefit of the PurchasersLenders, effective when the Administrative Agent delivers such noticeCollection Notice, the exclusive ownership and control of each Collection Account and control of each Lock-BoxBox and the Collection Accounts. In case any authorized signatory of the Seller Borrower whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller Borrower hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period at any time after delivery of the Collection Notices, to (A) endorse the Seller’s Borrower's name on checks and other instruments representing Collections, (Bii) at any time after the occurrence of an Amortization Event, to enforce the Receivables, the related Contracts Receivables and the Related Security Security, and (Ciii) at any time after the occurrence of an Amortization Event, to take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than Borrower and applied against the SellerObligations.

Collection Notices. The Administrative Agent is authorized at any time (i) when an Amortization after the occurrence and during the continuance of a Servicer Termination Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Lock-Box Banks the Collection Notices. The Seller hereby transfers to the Administrative Agent for the benefit of the Purchasers, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each Collection Account and control of each Lock-BoxBox and the Blocked Accounts. In case any authorized signatory of the Navistar or Seller whose signature appears on a Collection Blocked Account Agreement or Lock-Box Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall after the occurrence and during the continuance of a Servicer Termination Event be entitled to (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period to (A) endorse the Seller’s 's name on checks and other instruments representing Collections, (Bii) enforce the Receivables, the related Contracts and the Related Security and (Ciii) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller.

Collection Notices. The At any time, either of the Co-Agents ------------------ is hereby authorized to direct the Administrative Agent, and the Administrative Agent is hereby authorized at any time (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Periodand directed to comply with such direction, to date and to deliver to the Collection Banks the a Collection NoticesNotice under any Collection Account Agreement. The Seller hereby transfers to the Administrative Agent for the benefit of the Purchasers, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each the Collection Account and control of each Lock-BoxAccounts. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled to (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period to (A) endorse the Seller’s 's and/or any Originator's name on checks and other instruments representing Collections, (Bii) enforce the Receivables, the related Contracts invoices and the Related Security and (Ciii) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller.

Collection Notices. The Administrative Agent is authorized at any time (i) when an Amortization after the occurrence of a Liquidation Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Banks the Collection Notices. The Seller hereby transfers to the Administrative Agent for the benefit of the PurchasersBlue Ridge, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each Collection Account and control of each Lock-BoxBox and the Collection Accounts. In case any authorized signatory of the Seller whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled (ia) when an Amortization Event exists or (ii) during a Level Three Enhancement Period at any time after delivery of the Collection Notices, to (A) endorse the Seller’s 's name on checks and other instruments representing Collections, (Bb) at any time after the occurrence of a Liquidation Event, to enforce the Receivables, the related Contracts and the Related Security Security, and (Cc) at any time after the occurrence of a Liquidation Event, to take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the Seller.

Collection Notices. The Administrative Agent is authorized at any time (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Banks the Collection Notices. The Seller Borrower hereby transfers to the Administrative Agent for the benefit of the PurchasersSecured Parties, effective when the Administrative Agent delivers such notice, the exclusive ownership and control of each Collection Account and control of each Lock-BoxBox and the Collection Accounts. In case any authorized signatory of the Seller Borrower whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. The Seller Borrower hereby authorizes the Administrative Agent, and agrees that the Administrative Agent shall be entitled (ia) when an Amortization Event exists or (ii) during a Level Three Enhancement Period at any time after delivery of the Collection Notices, to (A) endorse the SellerBorrower’s name on checks and other instruments representing Collections, (Bb) at any time after the occurrence of an Amortization Event, to enforce the Receivables, the related Contracts and the Related Security Security, and (Cc) at any time after the occurrence of an Amortization Event, to take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Administrative Agent rather than the SellerBorrower.