Common use of The Banks Clause in Contracts

The Banks. Agent agrees that it shall not exercise any rights it may have under the Loan Documents to send any notices to Obligors informing them of the Banks' interest in the Purchased Receivables or directing such Obligors to make payments in any particular manner of any amounts due under the Purchased Receivables prior to the latest of payment in full of the Receivables Claim and the termination of the Receivables Documents, except that the Banks' Agent may, subject to the provisions of the Loan Documents, inform any Obligors of Excluded Receivables that such Excluded Receivables have been assigned to the Banks' Agent so long as such notices expressly state that all payments on account of such Excluded Receivables shall continue to be made as otherwise required pursuant to the terms of the Receivables Documents. The Banks' Agent further agrees that, prior to the latest of payment in full of the Receivables Claim and the termination of the Receivables Documents, if it receives payments directly from any Obligor on account of an Excluded Receivable, it shall immediately forward such payment to the Administrative Agent in order that such agent may determine whether such payment was, in fact, properly allocated to such Excluded Receivable in accordance with the terms of this Section 2.4 and, if necessary pursuant to the terms hereof, reallocate such payment.