Collections/Administration. The Borrower expresses, recognizes and accepts that Bank shall without prejudice to its right to perform such activities by itself or through its officers or employees be entitled to and has full power and authority to appoint one or more third parties as Bank may select and to delegate to such third party all its functions, rights and powers under this Agreement relating to administration of the Loan including the right and authority to collect and receive on behalf of the Bank from the Borrower the PRE-EMI, EMI and other amounts due by the Borrower under this Agreement and to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices contacting the Borrower receiving cash/cheque/drafts/mandates from the Borrower and giving valid and effectual receipts and discharge to the Borrower. For the purpose aforesaid, the Bank shall be entitled to disclose to such third parties all necessary or relevant information pertaining to the Borrower and the Loan and Borrower hereby consents to such disclosure by the Bank.
Collections/Administration. The Borrower expressly recognizes and accepts that the Non-Bank Financial Institution shall, without prejudice to its right to perform such activities itself or through its officers or employees, be entitled and have full power and authority to appoint one or more third party (ies) as the Non-Bank Financial Institution may select and to delegate to such third party all or any of its functions, rights and powers under this Agreement relating to administration of the Loan including the right and authority to collect and receive on behalf of the Non-Bank Financial Institution from the Borrower any payments and other amounts due by the Borrower under this Agreement and to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices, attending the residence or office of the Borrower or otherwise contacting the Borrower (including the authorised signatory(ies)/representative(s),), receiving cash/cheques/drafts/mandates from the Xxxxxxxx (including the authorised signatory(ies)/ representative(s)of the Borrower) and giving valid and effectual receipts and discharge to the Borrower. For the purpose aforesaid, the Non-Bank Financial Institution shall be entitled to disclose to any such third party (ies) (including the authorised signatory (ies)/representative(s), of the Borrower) all necessary or relevant information pertaining to the Borrower and the Loan and the Borrower hereby consents to such disclosure by the Non-Bank Financial Institution. Notwithstanding the above, in the event of the Borrower committing any act of default and/or the occurrence of any Event of Default, the Borrower expressly accepts and authorizes the Non-Bank Financial Institution and/or any such third party as the Non-Bank Financial Institution may select to contact any third party(ies) (including the authorised signatory (ies), representative(s), the adult family members, secretary, accountants etc. of the Borrower) and disclose all necessary or relevant information pertaining to the Borrower and the Loan and the Borrower hereby consents to such disclosure by the Non-Bank Financial Institution (and/or any such third party as the Non-Bank Financial Institution may select). The Borrower further expressly authorises the Non-Bank Financial Institution (and/or any such third party as the Non-Bank Financial Institution may select) to receive payments or such other security as may be offered by such third parties (including a...
Collections/Administration. In order to reimburse the Agent or the Bank, as applicable, for the cost of delays in the collection and clearance of remittances, the Borrowers shall pay to the Agent or the Bank, as applicable, for its own account, respectively, interest at the rate applicable to Base Rate Loans for one Business Day on the amount of all uncollected funds applied to the Revolving Loans or transferred to the Designated Account as provided by Section 2.11(f) of the Security Agreement.
Collections/Administration
