Common use of Communications with Obligors; Grantors Remain Liable Clause in Contracts

Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 2 contracts

Samples: Guarantee and Collateral Agreement (UCI Holdco, Inc.), Guarantee and Collateral Agreement (Chefford Master Manufacturing Co Inc)

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Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6Default, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties Lenders and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Reliant Building Products Inc)

Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a) or 8(f) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6Agreement, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties Administrative Agent, the Canadian Administrative Agent and the Lenders and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Cogent Management Inc)

Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a) or 8(f) of the Credit Agreement if to the extent the Administrative Agent shall have given determines such notice is advisable for the Borrower notice preservation or realization of its intent to exercise remedies under this Section 6any of the Collateral, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of itself and the Secured Parties Lenders and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Yankee Holding Corp.)

Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6Default, each Grantor shall notify obligors on the Receivables and parties to the Contracts that the Receivables and the Contracts have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Dealertrack Technologies, Inc)

Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a8.1(a) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (United Components Inc)

Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a) or 8(f) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6Agreement, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties Lenders and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Standard Aero Holdings Inc.)

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Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after during the occurrence and during the continuance of an Event of Default under Section 8(a) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6Default, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties Lenders and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guaranty and Collateral Agreement (Westell Technologies Inc)

Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6Default, each Grantor shall notify obligors on the Receivables and parties to the Contracts that the Receivables and the Contracts have been assigned to the Administrative Agent for the ratable rateable benefit of the Secured Parties and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Dealertrack Technologies, Inc)

Communications with Obligors; Grantors Remain Liable. (a) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default under Section 8(a) of the Credit Agreement if the Administrative Agent shall have given the Borrower notice of its intent to exercise remedies under this Section 6Default, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties Lenders, (and in the case of Specified Swap Agreements, Affiliates of Lenders), and that payments in respect thereof shall be made directly to the Administrative Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Interactive Brokers Group, Inc.)

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