Defaulted Contracts. If a Contract Default shall have occurred with respect to any Buyers' Contract and such Contract is not repurchased by the Related Seller hereunder, the Servicer shall take all reasonable actions, which may include filing lawsuits, to collect such Contract and to enforce the Agent's and the Buyers' rights under any Related Security
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Defaulted Contracts. If a Contract Default shall have occurred with respect to any Buyers' Contract and such Contract is not repurchased by the Related Seller hereunderBuyer Contract, the Servicer shall take all reasonable actions, which may include filing lawsuits, to collect such Contract and to enforce the Agent's and the Buyers' rights under any Related SecuritySecurity Document. The proceeds of any action to collect such a Contract or of a sale of any Related Security for such Contract shall be applied first to the Servicer’s reasonable out-of-pocket costs and expenses (including the fees and disbursements of its counsel) incurred in obtaining such proceeds and second, to the Collection Account.
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Sources: Contract Purchase Agreement (Patterson Companies, Inc.)