Common use of Notification of Assignment of Receivables Clause in Contracts

Notification of Assignment of Receivables. At any time upon the occurrence and during the continuation of an Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Upon the occurrence and during the continuance of an Event of Default, Agent’s actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Credit Parties’ account and added to the Obligations.

Notification of Assignment of Receivables. At any time upon the occurrence and during the continuation of an Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in and Lien on, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Upon the occurrence and during the continuance of an Event of Default, Agent’s actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Credit Parties’ account Account and added to the Obligations.

Notification of Assignment of Receivables. At any time upon following the occurrence and during the continuation continuance of an Event of Default, the Agent shall have the right to send notice of the assignment of, and the Agent’s security interest in and Lien onin, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. ThereafterAfter the occurrence and during the continuance of such Event of Default and the providing of such notice, the Agent shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Upon the occurrence and during the continuance of an Event of Default, The Agent’s actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to the Credit PartiesBorrowers’ account Account and added to the Obligations.