Common use of Collection of Moneys Clause in Contracts

Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate a lockbox for the receipt directly from Lessees of all payments under the Leases and for the receipt from IOS Capital or the Lessees of security deposits in respect of any of the Leases. Amounts so received shall be deposited in the Collection Account in accordance with the provisions of Section 3.03(a) or, in the case of security deposits, the Security Deposit Account in accordance with Section 3.08(a). (b) The Trustee shall from time to time, in accordance with instructions of the Servicer, withdraw from the Collection Account and pay to the Servicer for appropriate application by the Servicer any amounts in the Collection Account which the Servicer advises the Trustee in writing are Other Lease Payments. Prior to such payment, the Trustee shall have rights to and an interest in such amounts to the extent (but only to the extent) it is determined that such amounts actually constitute Transaction Payment Amounts. (c) If at any time the Issuer shall receive any amount referred to in Section 3.03(a), it shall hold such payment in trust for the benefit of the Trustee, the holders of the Notes and the Insurer, shall segregate such payment from the other property of the Issuer, and shall, promptly (but in no event later than the next following Business Day) upon receipt, deliver such payment in the form received to the Trustee.

Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate a lockbox for the receipt directly from Lessees of all payments under the Leases and for the receipt from IOS Capital or the Lessees of security deposits in respect of any of the Leases. Amounts so received shall be deposited in the Collection Account in accordance with the provisions of Section 3.03(a) or, in the case of security deposits, in the Security Deposit Account in accordance with Section 3.08(a). (b) The Trustee shall from time to time, in accordance with the written instructions of the Servicer, withdraw from the Collection Account and pay to the Servicer for appropriate application by the Servicer any amounts in the Collection Account which the Servicer advises the Trustee in writing are Other Lease Payments. Prior to such payment, the Trustee shall have rights to and an interest in such amounts to the extent (but only to the extent) it is determined that such amounts actually constitute Transaction Payment Amounts. (c) If at any time the Issuer shall receive any amount referred to in Section 3.03(a), it shall hold such payment in trust for the benefit of the Trustee, the holders of the Notes and the Insurer, shall segregate such payment from the other property of the Issuer, and shall, promptly (but in no event later than the next following Business Day) upon receipt, deliver such payment in the form received to the Trustee.

Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate a lockbox for the receipt directly from Lessees of all payments under the Leases and for the receipt from IOS Capital or the Lessees of security deposits in respect of any of the Leases. Amounts so received shall be deposited in the Collection Account in accordance with the provisions of Section 3.03(a) or, in the case of security deposits, the Security Deposit Account in accordance with Section 3.08(a). (b) The Trustee shall from time to time, in accordance with instructions of the Servicer, withdraw from the Collection Account and pay to the Servicer for appropriate application by the Servicer any amounts in the Collection Account which the Servicer advises the Trustee in writing are Other Lease Payments. Prior to such payment, the Trustee shall have rights to and an interest in such amounts to the extent (but only to the extent) it is determined that such amounts actually constitute Transaction Payment Amounts. (c) If at any time the Issuer shall receive any amount referred to in Section 3.03(a), it shall hold such payment in trust for the benefit of the Trustee, the holders of the Notes [and the Insurer, ,] shall segregate such payment from the other property of the Issuer, and shall, promptly (but in no event later than the next following Business Day) upon receipt, deliver such payment in the form received to the Trustee.