Common use of Direct Collection Clause in Contracts

Direct Collection. ▇▇▇▇▇ Fargo may notify any account debtor, or any other Person obligated to pay any amount due, that such chattel paper, Account, or other right to payment has been assigned or transferred to ▇▇▇▇▇ Fargo for security and shall be paid directly to ▇▇▇▇▇ Fargo. At any time after ▇▇▇▇▇ Fargo or the Debtor gives such notice to an account debtor or other obligor, ▇▇▇▇▇ Fargo may (but need not), in its own name or in the Debtor’s name, demand, ▇▇▇ for, collect or receive any money or property at any time payable or receivable on account of, or securing, any such chattel paper, Account, or other right to payment, or grant any reasonable to, make any compromise or settlement with or otherwise agree to waive, modify, amend or change the obligations (including collateral obligations) of any such account debtor or other obligor.