Collection of the Receivables. The Buyer shall have full power and authority to collect for its account all Receivables, and to endorse, without recourse to the Seller, in the name of the Seller, any checks or other instruments of payment received on account of payment of any such Receivables; provided, further, that if the Seller receives any payment on account of any such Receivables, the Seller shall transfer and deliver such payment (endorsed where necessary) to the Buyer, promptly after receipt.
Collection of the Receivables. From and after the Effective Time, the Surviving Corporation shall use commercially reasonable efforts to collect accounts receivable of Target reflected on the Closing Balance Sheet prior to the Reconciliation Date and neither Buyer nor the Surviving Corporation shall take any actions that are reasonably likely to result in such accounts receivable not being collected prior to the Reconciliation Date. Provided that he is employed by the Surviving Corporation, Xxxxxx Xxxxx shall oversee the accounts receivable collection process on behalf of the Surviving Corporation.
Collection of the Receivables. Each Client undertakes to comply with their usual collection procedures, and, in general, to take all reasonable steps that would be necessary to saveguard CGA’s rights. Neither the Company nor any of the Clients are allowed, according to their collection mandate, to engage any legal proceedings against debtors or to instruct lawyers or collection agents for the collection purpose without the prior written consent of CGA. Conversely, neither the Company nor any of the Clients can be obliged by CGA to do so, being understood that in case of refusal of any of the Clients to engage such legal proceedings upon request of CGA, CGA may revoke the collection mandate of this Client according to Article 9.5. Each Client will inform CGA of any modification that may be made in its collection procedures.
Collection of the Receivables. Each Participant agrees to apply its normal collection procedures, and, in general, to take all reasonable steps that may be necessary to protect CGA’s rights. Neither the Company nor the Participants shall have the right, in connection with their collection authority, to commence any legal proceedings against an obligor or to appoint counsel or engage collection agents for collection purposes without the prior written consent of CGA. Likewise, CGA shall not have the right to require the Company or any of the Participants to undertake collection steps, provided, however, that, should a Participant refuse to take collection steps at CGA’s request, CGA shall have the right to terminate the collection authority of such Participant on the terms and conditions set forth in Article 11.5. Each Participant shall inform CGA of any change may be made in its collection procedures.
Collection of the Receivables. After the Closing, subject to Section 7.10, the Buyer shall have full power and authority to collect for its account all Receivables, and to endorse, without recourse to the Seller, in the name of the Seller, any checks or other instruments of payment received on account of payment of any such Receivables. Subject to Section 7.10, if, after the Closing, the Seller receives any payment on account of any such Receivables, the Seller shall transfer and deliver such payment (endorsed where necessary) to the Buyer, promptly after receipt.
Collection of the Receivables. 6.1 As long as the first ranking right of pledge created under this Agreement remains in force, the Security Trustees are jointly entitled to collect the Receivables and to enter into compromises, settlements and other agreements with any of the Banks and to exercise all other rights of the Collection Foundation in connection with the Receivables (including calling in (opzeggen) the Receivables) (such rights hereinafter the "Collection Rights"). After the termination of the first ranking right of pledge, as long as the right of pledge created under this Agreement in favour of the SPVs remains in effect, the SPVs are jointly entitled to exercise the Collection Rights. The Security Trustees and the SPVs hereby authorise (verlenen toestemming aan) the Collection Foundation in accordance with section 3:246 paragraph 4 of the Dutch Civil Code, to exercise the Collection Rights and to distribute the collections in accordance with the Receivables Proceeds Distribution Agreement, which authorisation shall terminate upon the earlier of (i) the notification to the relevant Bank of the occurrence of a Collection Foundation Event of Default (as defined below) and (ii) the relevant Bank becoming aware of such Collection Foundation Event of Default.
