Return of Notes Receivable. (a) In the event Borrower complies with its Obligations under Section 2.5(b) of this Agreement with respect to Pledged Notes Receivable pursuant to which a default by the Purchaser thereof has occurred, and Borrower thereafter desires to enforce such Note Receivable against the Purchaser thereof, then provided that no Event of Default has occurred which has not been cured to Agent's satisfaction (as evidenced by a written acceptance of such cure executed by Agent), and no event has occurred which with notice, the passage of time or both, would constitute an Event of Default, then within thirty (30) days after its receipt of a written request from Borrower, Agent shall deliver such ineligible Note Receivable to Borrower, provided that such delivery shall be for the sole purpose of enforcing Agent's rights thereunder and Agent, notwithstanding such delivery, shall continue to have, on behalf of Lenders, a first priority security interest in any such note.
Return of Notes Receivable. (a) In the event Borrower complies with its Obligations under Section 2.4(b) of this Agreement with respect to Pledged Notes Receivable that cease to be Eligible Notes Receivable, and Borrower thereafter desires to enforce such ineligible Note Receivable against the Purchaser thereof, then provided that no Event of Default has occurred which has not been cured to Agent's satisfaction (as evidenced by a written acceptance of such cure executed by Agent), and no event has occurred which with notice, the passage of time or both, would constitute an Event of Default, then within thirty (30) days after its receipt of a written request from Borrower, Agent shall endorse the ineligible Note Receivable "Pay to the order of Silverleaf Resorts, Inc., without recourse," and deliver such ineligible Note Receivable to Borrower.
Return of Notes Receivable. In addition, all documents, instruments and other items to be delivered to Lender from time to time pursuant to this Agreement shall be delivered to Lender's office at 333 Xxxx Xxxxx Xxxxx, Xxxxx 000, Xxxx Xxxxxxxx, Xxxxxxxxxxx 00000.
Return of Notes Receivable. In addition, all documents, instruments and other items to be delivered to the Lenders from time to time pursuant to this Agreement shall be delivered to Agent's office at 333 Xxxx Xxxxx Xxxxx, Xxxxx 000, Xxxx Xxxxxxxx, Xxxxxxxxxxx 00000.
Return of Notes Receivable. In the event Borrower complies with its Obligations under this Agreement with respect to Pledged Notes Receivable that cease to be Eligible Notes Receivable, and Borrower thereafter desires to enforce such ineligible Note Receivable against the Purchaser thereof, then provided that no Event of Default has occurred which has not been cured to Lender's reasonable satisfaction (as evidenced by a written acceptance of such cure executed by Lender), and no Default has occurred, then within fifteen (15) days after its receipt of a written request from Borrower, Lender shall endorse the ineligible Note Receivable "Pay to the order of Preferred Equities Corporation without recourse" and deliver such ineligible Note Receivable and any related Collateral to Borrower. In the event Borrower complies with its obligations under Section 8.1(v) with respect to the replacement of Pledged Notes Receivables, then provided that no Event of Default has occurred which has not been cured to Lender's reasonable satisfaction (as evidenced by a written acceptance of such cure executed by Lender), and no Default has occurred, then within fifteen (15) days after its receipt of a written request from Borrower, Lender shall endorse the replaced Note Receivable "Pay to the order of preferred Equities Corporation without recourse" and deliver such replaced Note Receivable and any related Collateral to Borrower. In the event Borrower complies with its Obligations under this Agreement with respect to offering to Lender the first opportunity to purchase Pledged Notes Receivable, in bulk, provided that Lender has not exercised such right or has not consummated said purchase within the time periods provided in Section 2.6(b)(iii) and provided further that no Event of Default has occurred which has not been cured to Lender's reasonable satisfaction (as evidenced by a written acceptance of such cure executed by Lender) then within fifteen (15) days after its receipt of a written request from Borrower and any required fee set forth in Section 2.6(b)(iii) and the amount of any Advances outstanding against all of the Pledged Notes Receivable to be released, Lender shall endorse the Pledged Notes Receivable which are part of such bulk sale "Pay to the order of Preferred Equities Corporation without recourse" and deliver such Pledged Notes Receivable and any related Collateral to Borrower. In the event Borrower complies with its Obligations under this Agreement and there are Pledged Notes Receivable...
Return of Notes Receivable. Section 6.11 of the Loan Agreement shall be and is hereby amended to add that in the event that all Obligations under the Loan Documents are fully satisfied, then within a reasonable time thereafter, Lender shall endorse the Pledged Notes Receivable "Pay to the order of Raintree North America Resorts, Inc., without recourse," and deliver such Pledged Notes Receivable, together with any other nonrecourse reassignment documents requested and prepared by Raintree, at Raintree's sole cost and expense.
Return of Notes Receivable. Borrower may replace Eligible --------------------------- Notes Receivable with upgrades or downgrades of such notes without Lender's prior consent so long as (i) no Default or Event of Default exists and is continuing; (ii) the Account Debtor is not more than thirty (30) days past due; (iii) the aggregate principal balances of the Pledged Notes Receivable which are being (but have not been) replaced do not exceed an amount of more than $100,000.00 outstanding at any one time; and (iv) Lender is notified within ten (10) days of such replacement and thereafter all Primary Collateral pertinent to such replacement is delivered to Lender or, if applicable, to the Custodian, within the earlier of the next Advance or fifteen (15) days from the date of notification to Lender of such replacement.
Return of Notes Receivable. Provided that no Event of Default --------------------------- has occurred and is continuing and no Default exists, then within fifteen (15) days after its receipt of a written request and all appropriate documentation necessary for release from Borrower, Lender shall endorse or, if there then shall be a Custodian, give appropriate instructions to the Custodian to endorse the Ineligible Notes Receivable specified in the request "Pay to the order of Preferred Equities Corporation, without recourse", and deliver such Ineligible Notes Receivable and the
Return of Notes Receivable. In addition, all documents, instruments and other items to be delivered to Lenders from time to time pursuant to this Agreement shall be delivered to Agent's office at 333 East River Drive, Suite 104, East Hartford, Connecticut 06108.
Return of Notes Receivable. Section 12.10 is hereby restated and amended as follows:
