Common use of Designation of Collection Agent Clause in Contracts

Designation of Collection Agent. The servicing, administering and collection of the Pool Receivables shall be conducted by such Person (the "COLLECTION AGENT") so designated from time to time in accordance with this Section 6.01. Until the Agent gives three Business Days' notice to the Seller and PolyOne of a designation of a new Collection Agent, PolyOne is hereby designated as, and hereby agrees to perform the duties and obligations of, the Collection Agent pursuant to the terms hereof. The Agent (at the request or with the consent of any Managing Agent) may at any time designate as Collection Agent any Person (including itself) to succeed PolyOne or any successor Collection Agent if the Agent (or any Managing Agent) shall determine in its reasonable discretion that such action is necessary to protect the interest of any Owner in the Receivables, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Collection Agent pursuant to the terms hereof. The Collection Agent may, with the prior consent of the Agent (with the consent or at the request of the Managing Agents), subcontract with any other Person for servicing, administering or collecting the Pool Receivables, PROVIDED that the Collection Agent shall remain liable for the performance of the duties and obligations of the Collection Agent pursuant to the terms hereof.

Designation of Collection Agent. The servicing, administering and collection of the Pool Receivables shall be conducted by such Person (the "COLLECTION AGENT") so designated from time to time in accordance with this Section 6.01. Until the Agent (with the consent or at the request of the Majority Investor Groups) gives three Business Days' notice to the Seller and PolyOne of a designation of a new Collection Agent, PolyOne is hereby designated as, and hereby agrees to perform the duties and obligations of, the Collection Agent pursuant to the terms hereof. The Agent may (with the consent or at the request or with of the consent of any Managing AgentMajority Investor Groups) may at any time designate as Collection Agent any Person (including itself) to succeed PolyOne or any successor Collection Agent if the Agent (or any Managing Agent) shall determine in its reasonable discretion that such action is necessary to protect the interest of any Eligible Asset Owner in the Receivables, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Collection Agent pursuant to the terms hereof. The Collection Agent may, with the prior consent of the Agent (with the consent or at the request of the Managing AgentsMajority Investor Groups), subcontract with any other Person for servicing, administering or collecting the Pool Receivables, PROVIDED that the Collection Agent shall remain liable for the performance of the duties and obligations of the Collection Agent pursuant to the terms hereof.

Designation of Collection Agent. The servicing, administering and collection of the Pool Receivables shall be conducted by such Person (the "COLLECTION AGENTCollection Agent") so designated from time to time in accordance with this Section 6.01. Until the Agent gives three Business Days' notice to the Seller and PolyOne of a designation of a new Collection Agent, PolyOne Dial is hereby designated as, and hereby agrees to perform the duties and obligations of, the Collection Agent pursuant to the terms hereof. The Agent (at If an event has occurred and is continuing which constitutes an Event of Investment Ineligibility or would constitute an Event of Investment Ineligibility but for the request requirement that notice be given or with the consent of any Managing Agent) may time elapse or both, or if at any time the Agent is reasonably insecure as to the ability of the Collection Agent to perform under this Agreement or reasonably dissatisfied with the collection performance of the Pool Receivables, or at any time after the Termination Date, the Agent may designate as Collection Agent any Person (including itself) to succeed PolyOne Dial or any successor Collection Agent if the Agent (or any Managing Agent) shall determine in its reasonable discretion that such action is necessary to protect the interest of any Owner in the Receivables, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Collection Agent pursuant to the terms hereof. The Collection Agent may, with the prior consent of the Agent (with the consent or at the request of the Managing Agents)Agent, subcontract with any other Person for servicing, administering or collecting the Pool Receivables, PROVIDED provided that the Collection Agent shall remain liable for the performance of the duties and obligations of the Collection Agent pursuant to the terms hereof.

Designation of Collection Agent. The servicing, administering and collection of the Pool Receivables shall be conducted by such Person (the "COLLECTION AGENTCollection Agent") so designated from time to time in accordance with this Section 6.01. Until the Agent gives three Business Days' notice to the Seller and PolyOne of a designation of a new Collection Agent, PolyOne the Seller is hereby designated as, and hereby agrees to perform the duties and obligations of, the Collection Agent pursuant to the terms hereof. The Agent (at the request or with the consent of any Managing Agent) may at any time designate as Collection Agent any Person (including itself) to succeed PolyOne the Seller or any successor Collection Agent if the Agent (or any Managing Agent) shall determine in its reasonable discretion that such action is necessary to protect the interest of any Owner in the Receivables, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Collection Agent pursuant to the terms hereof. The Collection Agent may, with the prior consent of the Agent (with the consent or at the request of the Managing Agents)Agent, subcontract with any other Person for servicing, administering or collecting the Pool Receivables, PROVIDED that the Collection Agent shall remain liable for the performance of the duties and obligations of the Collection Agent pursuant to the terms hereof.

Designation of Collection Agent. The servicing, ------------------------------- administering and collection of the Pool Receivables shall be conducted by such Person (the "COLLECTION AGENTCollection Agent") so designated from time to time in accordance with this Section 6.01. Until the Agent gives three Business Days' notice to the Seller and PolyOne of a designation of a new Collection Agent, PolyOne Services is hereby designated as, and hereby agrees to perform the duties and obligations of, the Collection Agent pursuant to the terms hereof. The Agent (at the request or with the consent of any Managing Agent) may at any time after the occurrence of a Designated Event designate as Collection Agent any Person (including itself) to succeed PolyOne Services or any successor Collection Agent if the Agent (or any Managing Agent) shall determine in its reasonable discretion that such action is necessary to protect the interest of any Owner in the Receivables, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Collection Agent pursuant to the terms hereof. The Collection Agent may subcontract with the Originators and may, with the prior consent of the Agent (with the consent or at the request of the Managing Agents)Agent, subcontract with any other Person for servicing, administering or collecting the Pool Receivables, PROVIDED provided that the Collection Agent shall remain -------- liable for the performance of the duties and obligations of the Collection Agent pursuant to the terms hereof.