Common use of Collection of Moneys Clause in Contracts

Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate an address for the receipt directly from Lessees of all Lease Payments, Casualty Payments and Termination Payments on or in respect of each Lease (which payments may be aggregated by the Lessee paying the same with Similar Transaction Payments and Other Lease Payments and which designated address may be the same designated address to which such Similar Transaction Payments and Other Lease Payments may be sent). The Servicer shall, within two Business Days of receipt of any payment at such designated address, deposit such payment in the Collection Account. All Lease Payments, Casualty Payments, Termination Payments and other payments relating to a Lease received at such designated address and so deposited in the Collection Account shall constitute part of the Trust Estate. Any Similar Transaction Payments and Other Lease Payments from time to time received at such designated address or otherwise received by the Servicer or deposited in the Collection Account shall not constitute part of the Trust Estate. (b) The Trustee shall from time to time, in accordance with instructions of the Servicer and the provisions of the Similar Transaction Agreements, withdraw from the Collection Account any amounts in the Collection Account which the Servicer advises the Trustee are (i) Similar Transaction Payments and apply such payments in accordance with the Similar Transaction Agreements and (ii)

Appears in 3 contracts

Sources: Indenture (Copelco Capital Funding Corp X), Indenture (Copelco Capital Funding Corp X), Indenture (Copelco Capital Funding Corp X)

Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate an address for the receipt directly from Lessees of all Lease Payments, Casualty Payments and Termination Payments on or in respect of each Lease (which payments may be aggregated by the Lessee paying the same with Similar Transaction Payments and Other Lease Payments and which designated address may be the same designated address to which such Similar Transaction Payments and Other Lease Payments may be sent). The Servicer shall, within two Business Days of receipt of any payment at such designated address, deposit such payment in the Collection Account. All Lease Payments, Casualty Payments, Termination Payments and other payments relating to a Lease received at such designated address and so deposited in the Collection Account shall constitute part of the Trust Estate. Any Similar Transaction Payments and Other Lease Payments from time to time received at such designated address or otherwise received by the Servicer or deposited in the Collection Account shall not constitute part of the Trust Estate. (b) The Trustee shall from time to time, in accordance with instructions of the Servicer and the provisions of the Similar Transaction Agreements, withdraw from the Collection Account any amounts in the Collection Account which the Servicer advises the Trustee are (i) Similar Transaction Payments and apply such payments in accordance with the Similar Transaction Agreements and (ii)

Appears in 1 contract

Sources: Indenture (Ikon Receivables LLC)

Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate an address for the receipt directly from Lessees of all Lease Payments, Casualty Payments and Termination Payments on or in respect of each Lease (which payments may be aggregated by the Lessee paying the same with Similar Transaction Payments and Other Lease Payments and which designated address may be the same designated address to which such Similar Transaction Payments and Other Lease Payments may be sent). The Servicer shall, within two Business Days of receipt of any payment at such designated address, deposit such payment (excluding Residual Realizations) in the Collection Account. All Lease Payments, Casualty Payments, Termination Payments and other payments relating to a Lease received at such designated address and so deposited (excluding Residual Realizations) in the Collection Account shall constitute part of the Trust Estate. Any Similar Transaction Payments and Other Lease Payments from time to time received at such designated address or otherwise received by the Servicer or deposited in the Collection Account shall not constitute part of the Trust Estate. (b) The Trustee shall from time to time, in accordance with instructions of the Servicer and the provisions of the Similar Transaction Agreements, withdraw from the Collection Account any amounts in the Collection Account which the Servicer advises the Trustee are (i) Similar Transaction Payments and apply such payments in accordance with the Similar Transaction Agreements and (ii)

Appears in 1 contract

Sources: Indenture (Copelco Capital Funding Corp Xi)

Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate an address for the receipt directly from Lessees of all Lease Payments, Casualty Payments and Termination Payments on or in respect of each Lease (which payments may be aggregated by the Lessee paying the same with Similar Transaction Payments and Other Lease Payments and which designated address may be the same designated address to which such Similar Transaction Payments and Other Lease Payments may be sent). The Servicer shall, within two Business Days of receipt of any payment at such designated address, deposit such payment, or cause such payment in to be deposited into the Collection Lockbox Account. All Lease Payments, Casualty Payments, Termination Payments and other payments relating to a Lease received at such designated address and so deposited in the Collection Account shall constitute part of the Trust EstateGranted Assets. Any Similar Transaction Payments and Other Lease Payments from time to time received at such designated address or otherwise received by the Servicer or deposited in the Collection Lockbox Account shall not constitute part of the Trust EstateGranted Assets. (b) The Trustee shall from time to time, in accordance with instructions of the Servicer and the provisions of the Similar Transaction AgreementsAgreements and the Lockbox Agreement, withdraw from the Collection Lockbox Account any amounts in the Collection Lockbox Account which the Servicer advises the Trustee are (i) Similar Transaction Payments and apply such payments in accordance with the Similar Transaction Agreements and (ii)

Appears in 1 contract

Sources: Indenture (Charter Equipment Lease 1998-1 LLC)

Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate an address for the receipt directly from Lessees of all Lease Payments, Casualty Payments and Termination Payments on or in respect of each Lease (which payments may be aggregated by the Lessee paying the same with Similar Transaction Payments and Other Lease Payments and which designated address may be the same designated address to which such Similar Transaction Payments and Other Lease Payments may be sent). The Servicer shall, within two Business Days of receipt of any payment at such designated address, deposit such payment (excluding Residual Realizations) in the Collection Account and Residual Realizations in the Residual Account. All Lease Payments, Casualty Payments, Termination Payments and other payments relating to a Lease received at such designated address and so deposited in the Collection Account shall constitute part of the Trust Estate. Any Similar Transaction Payments and Other Lease Payments from time to time received at such designated address or otherwise received by the Servicer or deposited in the Collection Account shall not constitute part of the Trust Estate. (b) The Trustee shall from time to time, in accordance with instructions of the Servicer and the provisions of the Similar Transaction Agreements, withdraw from the Collection Account any amounts in the Collection Account which the Servicer advises the Trustee are (i) Similar Transaction Payments and apply such payments in accordance with the Similar Transaction Agreements and (ii)

Appears in 1 contract

Sources: Indenture (Copelco Capital Funding LLC 99-1)