Additional Deposits; Net Deposits Clause Samples

Additional Deposits; Net Deposits. (a) On or prior to each Deposit Date, Servicer shall remit to the Collection Account, in next-day or immediately available funds, the aggregate Purchase Amounts of the Receivables to be purchased by it under an obligation that arose during the preceding Collection Period pursuant to Section 2.4, 3.7 or 10.2, respectively. (b) Servicer may make the remittances to be made by it pursuant to this Article IV net of amounts to be distributed to it pursuant to Section 4.5 (but subject to the priorities set forth therein), for so long as (i) no Servicer Termination Event has occurred and is continuing and (ii) Servicer has not been terminated as such pursuant to Section 8.1; provided that Servicer shall account for all of such amounts in the related Servicer’s Report as if such amounts were deposited and distributed separately; and provided that, if an error is made by Servicer in calculating the amount to be deposited or retained by it and a shortfall in the amount deposited in the Collection Account results, Servicer shall make a payment of the deficiency to the Collection Account, immediately upon becoming aware, or receiving notice from Trustee, of such error.
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Additional Deposits; Net Deposits. The Servicer may make the remittances to be made by it pursuant to Section 4.2 net of amounts to be distributed to it pursuant to Section 4.5 (but subject to the priorities set forth therein), for so long as (i) no Event of Servicing Termination has occurred and is continuing and (ii) the Servicer has not been terminated as such pursuant to Section 9.1 hereof; PROVIDED, HOWEVER, that the Servicer shall account for all of such amounts in the related Servicer's Certificate as if such amounts were deposited and distributed separately; and PROVIDED FURTHER that, if an error is made by the Servicer in calculating the amount to be deposited or retained by it and a shortfall in the amount deposited into the Certificate Account results, the Servicer shall make a payment of the deficiency to the Certificate Account, immediately upon becoming aware, or receiving notice from the Trustee, of such shortfall.
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Additional Deposits; Net Deposits. (a) On or prior to each Deposit Date, Seller or Servicer, as the case may be, shall remit to the Collection Account, in next-day or immediately available funds, the aggregate Purchase Amounts of the Receivables to be purchased by it under an obligation that arose during the preceding Collection Period pursuant to Section 2.4, 3.7 or 10.2, respectively. (b) Servicer may make the remittances to be made by it pursuant to this Article IV net of amounts to be distributed to it pursuant to Section 4.5 (but subject to the priorities set forth therein), for so long as (i) no Servicer Termination Event has occurred and is continuing and (ii) Servicer has not been terminated as such pursuant to Section 8.1; provided that Servicer shall account for all of such amounts in the related Servicer's Report as if such amounts were deposited and distributed separately; and provided that, if an error is made by Servicer in calculating the amount to be deposited or retained by it and a shortfall in the amount deposited in the Collection Account results, Servicer shall make a payment of the deficiency to the Collection Account, immediately upon becoming aware, or receiving notice from Trustee, of such error.
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Additional Deposits; Net Deposits. (1) On or prior to each Deposit Date, Servicer shall remit to the Collection Account, in next-day or immediately available funds, the aggregate Purchase Amounts of the Receivables to be purchased by it under an obligation that arose during the preceding Collection Period pursuant to Section 2.4, 3.7 or 10.2, respectively.
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Related to Additional Deposits; Net Deposits

  • Additional Deposits (a) The Servicer and the Seller, as applicable, shall deposit or cause to be deposited in the Collection Account on the Determination Date on which such obligations are due the aggregate Purchase Amount with respect to Purchased Receivables and the aggregate Sale Amounts with respect to Sold Receivables. (b) The proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 shall be deposited in the Collection Account.

  • Additional Deposit For reasons of administration, the right is reserved to require payment of an Additional Deposit, as shown on the Fees List for the relevant year, as an additional deposit in the case of a pupil whose normal residence is outside the United Kingdom. The Additional Deposit will be retained in the general funds of the School until the Pupil leaves and will be repaid by means of a credit without interest to the final payment of Fees or other sums due to the School on leaving, unless stated otherwise in these terms and conditions. See also Clause 8.7

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Net Deposits As an administrative convenience, unless the Servicer is required to remit collections within two Business Days of the Posted Date, the Servicer will be permitted to make the deposit of collections net of distributions, if any, to be made to the Servicer with respect to the Collection Period. The Servicer, however, will account to the Trustee, the Indenture Trustee, the Noteholders and the Certificateholders as if all deposits, distributions and transfers were made individually.

  • Additional Deposits and Payments (a) On the date specified in Section 3.6 hereof or Section 3.4 of the Purchase Agreement, as applicable, the Servicer and Santander Consumer, as applicable, will deposit into the Collection Account the aggregate Repurchase Price with respect to Repurchased Receivables purchased or repurchased by the Servicer or Santander Consumer, respectively, on such date, and on the Payment Date specified in Section 8.1, the Servicer will deposit into the Collection Account all amounts, if any, to be paid under Section 8.1. All such deposits with respect to any such date which is a Payment Date will be made, in immediately available funds by noon, New York City time, on the Business Day immediately preceding such Payment Date related to such Collection Period. (b) The Indenture Trustee will, on or before the Payment Date relating to each Collection Period, withdraw from the Reserve Account the Reserve Account Draw Amount and deposit such amounts in the Collection Account in accordance with the Servicer’s Certificate. (c) The Indenture Trustee will, on each Payment Date, withdraw from the Reserve Account (i) all investment earnings (net of investment losses and expenses on funds on deposit in the Reserve Account during the related Collection Period) and distribute such investment earnings to the Servicer and (ii) the Reserve Account Excess Amount, if any, for such Payment Date and deposit such amount in the Collection Account. (d) On the Closing Date the Seller will cause the amount available in the Reserve Account to equal the Initial Reserve Account Deposit Amount through a cash deposit from proceeds of the sale of the Notes. (e) On or prior to the third Business Day preceding each Determination Date, the Relevant Trustee shall send a written notice, or make such information available electronically, to the Servicer stating the amount of investment income earned, if any, during the related Collection Period on each Trust Account maintained at the Relevant Trustee.