Diligence in Collection Sample Clauses
The Diligence in Collection clause requires a party, typically a lender or agent, to make reasonable efforts to collect payments or debts owed under an agreement. In practice, this means the responsible party must actively pursue outstanding amounts using standard industry practices, such as sending reminders, initiating follow-up communications, or taking legal action if necessary. This clause ensures that all parties are assured that collection efforts will be handled responsibly and consistently, thereby protecting the interests of those entitled to receive payment and minimizing the risk of uncollected debts.
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Diligence in Collection. All diligence in collection of any of the Liabilities except as required by the definition of any of the Liabilities, or any guaranty or other security for any of the foregoing.
Diligence in Collection. All diligence in collection of any of the Guaranteed Obligations, any obligation hereunder, or any guaranty or other security for any of the foregoing;
Diligence in Collection. All diligence in collection of any of Guarantor’s Liabilities, any obligation hereunder, or any guaranty or other security for any of the foregoing.
Diligence in Collection. All diligence in collection of any of the Liabilities, any obligation hereunder or any guaranty or other security for any of the foregoing;