Common use of Notifications etc Clause in Contracts

Notifications etc. Lender may, at any time, irrespective of whether an Event of Default has occurred, without notice to or the assent of Borrower, (a) notify any entity obligated with respect to any Monetary Collateral (an "Obligated Party"), by means of the letter attached as EXHIBIT A, to the form and substance of which Borrower hereby consents, that the underlying Monetary Collateral has been assigned to Lender by Borrower and that payment thereof is to be made to the order of and directly and solely to Lender, (b) send, or cause to be sent by its designee, requests (which may identify the sender by a pseudonym) for verification of any Monetary Collateral directly to the appropriate Obligated Party or any bailee with respect thereto, and (c) demand, collect or enforce payment of any Collateral, but without any duty to do so, and Lender shall not be liable for any failure to collect or enforce payment thereof. At Lender's request, all invoices and statements sent to any Obligated Party or any bailee, shall state that the relevant Monetary Collateral has been assigned to Lender and that any payments in respect thereof are payable directly and solely to Lender.

Notifications etc. Lender may, at any time, irrespective of whether an Event of Default has occurred, without notice to or the assent of Borrower, (a) : 5.2.1 notify any entity obligated with respect to any Monetary Collateral (an "Obligated Party"), by means of the letter attached as EXHIBIT Exhibit A, to the form and substance of which Borrower hereby consents, that the underlying Monetary Collateral has been assigned to Lender by Borrower and that payment thereof is to be made to the order of and directly and solely to Lender, (b) ; 5.2.2 send, or cause to be sent by its designee, requests (which may identify the sender by a pseudonym) for verification of any Monetary Collateral directly to the appropriate Obligated Party or any bailee with respect thereto, and (c) ; 5.2.3 demand, collect or enforce payment of any Collateral, but without any duty to do so, and Lender shall not be liable for any failure to collect or enforce payment thereof. ; and 5.2.4 At Lender's request, all invoices and statements sent to any Obligated Party or any bailee, shall state that the relevant Monetary Collateral has been assigned to Lender and that any payments in respect thereof are payable directly and solely to Lender.