Common use of Daily Collections Clause in Contracts

Daily Collections. (i) Promptly following receipt of Collections in the form of available funds in the Lockbox Accounts, but in no event later than one Business Day following such receipt (each such Business Day, the "Deposit Date"), the Master Servicer shall cause to be transferred all Collections on deposit (less the aggregate amount of set-offs permitted to be retained pursuant to any applicable Lockbox Agreement or Concentration Account Agreements) in the form of available funds in the Lockbox Accounts and the Concentration Accounts to the Collection Account; provided that such amounts in the Lockbox Accounts may within such time period be transferred from the Lockbox Accounts to the Concentration Accounts and then from the Concentration Accounts to the Collection Account. (ii) No later than the Business Day following each Deposit Date, the Trustee shall (in accordance with the written directions received from the Master Servicer) transfer from Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(i) above on such Deposit Date, to the respective Series Collection Subaccount, an amount equal to the product of (x) the applicable Invested Percentage for such Outstanding Series and (y) such Aggregate Daily Collections; (iii) No later than the Business Day following each Deposit Date, the Trustee shall (in accordance with the written direction of the Master Servicer) allocate funds transferred to the Series Collection Subaccount for each Outstanding Series pursuant to subsection 3.1(d)(ii) to the Series Non-Principal Collection Sub-subaccount and the Series Principal Collection Sub-subaccount of each such Series in accordance with Article III of the related Supplement for such Series. (iv) No later than the Business Day following each Deposit Date, except as otherwise provided in a Supplement, the Trustee shall (in accordance with the written direction of the Master Servicer) transfer to the Company Collection Subaccount the remaining portion of the Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(i) above on such Report Date after giving effect to transfers to be made pursuant to subsection 3.1(d)(ii). (v) Any amounts deposited in the Collection Account but identified as not constituting Collections (including any amounts required to be refunded to a Lockbox Bank in respect of amounts previously credited by such Lockbox Bank in respect of any dishonored checks) shall be paid as directed by the Master Servicer.

Daily Collections. (i) Promptly following its receipt of Collections in the form of available funds in the Lockbox Accounts, but in no event later than one the Business Day following such receipt (each such Business Dayreceipt, the "Deposit Date"), the Master Servicer shall transfer, or cause to be transferred transferred, all Collections on deposit (less the aggregate amount of set-offs permitted to be retained pursuant to any applicable Lockbox Agreement or Concentration Account AgreementsAgreement) in the form of immediately available funds in the Lockbox Accounts and the Concentration Accounts directly to the Collection Concentration Account; , provided that such amounts in the event of and continuance of an Potential Early Amortization Period or Early Amortization Period, such funds shall be deposited directly into the Collection Account, without first being deposited into the Collection Concentration Account, and the Trustee shall instruct any Lockbox Accounts may within such time period be transferred from the Processor to transfer all Collections in any Lockbox Accounts to the Concentration Accounts and then from the Concentration Accounts Account directly to the Collection Account. (ii) Promptly, but in no event later than the date of deposit (unless received after 3:00 p.m., New York City time, on such date, then on the next Business Day) (the "DEPOSIT DATE"), the Trustee shall transfer amounts on deposit in the Collection Concentration Account into the Collection Account. (iii) No later than the Business Day following each Deposit Date, the Trustee shall (in accordance with the written directions received from the Master ServicerServicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) transfer from Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(i) or (d)(ii) above on such Deposit Date, to the respective Series Collection Subaccount, an amount equal to the product of (x) the applicable Invested Percentage for such Outstanding Series and (y) such Aggregate Daily Collections;. (iiiiv) No later than the Business Day following each Deposit Date, the Trustee shall (in accordance with the written direction of directions received from the Master ServicerServicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) allocate funds transferred to the Series Collection Subaccount for each Outstanding Series pursuant to subsection 3.1(d)(ii(d)(iii) above to the Series Non-Principal Collection Sub-subaccount and subaccount, the Series Principal Collection Sub-subaccount and such other Sub-subaccounts of each such Series in accordance with Article III of the related Supplement for such Series. (ivv) No later than the Business Day following each Deposit Date, except as otherwise provided in a Supplement, the Trustee shall (in accordance with the written direction of directions received from the Master ServicerServicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) transfer to the Company Collection Subaccount the remaining portion of the from Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(id)(ii) above on such Report Date Deposit Date, the remaining funds (less an amount equal to the costs and expenses, if any, incurred by the Trustee with respect to the sale of the Receivables pursuant to subsection 7.2(a) or 9.1(b) and reimbursable to the Trustee as provided in Section 8.5), if any, on deposit in the Collection Account on such date after giving effect to transfers to be made pursuant to subsection 3.1(d)(ii)(d)(iii) above. (v) Any amounts deposited in the Collection Account but identified as not constituting Collections (including any amounts required to be refunded to a Lockbox Bank in respect of amounts previously credited by such Lockbox Bank in respect of any dishonored checks) shall be paid as directed by the Master Servicer.

Daily Collections. (i) Promptly following its receipt of Collections in the form of available funds in the Lockbox AccountsAccount, but in no event later than one the Business Day following such receipt (each such later Business Day, the "Deposit Date"), the Master Servicer shall transfer, or cause to be transferred transferred, all Collections on deposit (less the aggregate amount of set-offs Pooling Agreement permitted to be retained pursuant to any applicable Lockbox Agreement or Concentration Account AgreementsAgreement) in the form of available funds in the Lockbox Accounts and the Concentration Accounts to the Collection Account; provided that such amounts in the Lockbox Accounts may within such time period be transferred from the Lockbox Accounts to the Concentration Accounts and then from the Concentration Accounts directly to the Collection Account. (ii) No On the date of receipt of Aggregate Daily Collections, provided that such Aggregate Daily Collections are received prior to 1:00 p.m. on a Business Day, and if not, no later than the Business Day following each Deposit Date, the Trustee shall (in accordance with the written directions received from the Master Servicerpursuant to subsection (b)(ii) above) transfer from Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(i) above on such Deposit Dateabove, to the respective Series Collection Subaccount, an amount equal to the product of (x) the applicable Invested Percentage for such Outstanding Series and (y) such Aggregate Daily Collections;Collections in accordance with the Daily Report. (iii) No On the date of receipt of Aggregate Daily Collections, provided that such Aggregate Daily Collections are received prior to 1:00 p.m. on a Business Day, and if not, no later than the Business Day following each Deposit Date, the Trustee shall (in accordance with the written direction of the Master Servicerdirections received pursuant to subsection (b)(ii) above) allocate funds transferred to the Series Collection Subaccount for each Outstanding Series pursuant to subsection 3.1(d)(ii(d)(ii) above to the Series Non-Non- Principal Collection Sub-subaccount and the Series Principal Collection Sub-subaccount of each such Series in accordance with Article III of the Daily Report and the related Supplement for such Series. (iv) No On the date of receipt of Aggregate Daily Collections, provided that such Aggregate Daily Collections are received prior to 1:00 p.m. on a Business Day, and if not, no later than the Business Day following each Deposit Date, except as otherwise provided in a Supplement, the Trustee shall (in accordance with the written direction of the Master Servicerdirections received pursuant to subsection (b)(ii) above) transfer to the Company Collection Subaccount the remaining portion of the Aggregate Daily Collections deposited into funds, if any, on deposit in the Collection Account pursuant to subsection (d)(i) above on such Report Date date after giving effect to transfers to be made pursuant to subsection 3.1(d)(ii)(d)(ii) above. (v) Any amounts In the event that Collections relating to Receivables with respect to which the Trustee has not received notice that such Receivables have been sold to the Company are deposited in the Collection Account but identified as not constituting Collections (including any amounts required to be refunded to a Lockbox Bank Account, the Trustee shall promptly (in respect of amounts previously credited by accordance with the written Pooling Agreement directions received pursuant to subsection (b)(ii) above), and not subject to any conditions, transfer such Lockbox Bank in respect of any dishonored checks) Collections to the Seller and such Collections shall be paid as directed by the Master Servicernot constitute Aggregate Daily Collections.

Daily Collections. (i) Promptly following its receipt of Collections in the form of available funds in the Lockbox AccountsAccount, but in no event later than one the Business Day following such receipt (each such later Business Day, the "Deposit Date"), the Master Servicer shall transfer, or cause to be transferred transferred, all Collections on deposit (less the aggregate amount of set-offs permitted to be retained pursuant to any applicable Lockbox Agreement or Concentration Account AgreementsAgreement) in the form of available funds in the Lockbox Accounts and the Concentration Accounts to the Collection Account; provided that such amounts in the Lockbox Accounts may within such time period be transferred from the Lockbox Accounts to the Concentration Accounts and then from the Concentration Accounts directly to the Collection Account. (ii) No On the date of receipt of Aggregate Daily Collections, provided that such Aggregate Daily Collections are received prior to 1:00 p.m. on a Business Day, and if not, no later than the Business Day following each Deposit Date, the Trustee shall (in accordance with the written directions received from the Master Servicerpursuant to subsection (b)(ii) above) transfer from Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(i) above on such Deposit Dateabove, to the respective Series Collection Subaccount, an amount equal to the product of (x) the applicable Invested Percentage for such Outstanding Series and (y) such Aggregate Daily Collections;Collections in accordance with the Daily Report. (iii) No On the date of receipt of Aggregate Daily Collections, provided that such Aggregate Daily Collections are received prior to 1:00 p.m. on a Business Day, and if not, no later than the Business Day following each Deposit Date, the Trustee shall (in accordance with the written direction of the Master Servicerdirections received pursuant to subsection (b)(ii) above) allocate funds transferred to the Series Collection Subaccount for each Outstanding Series pursuant to subsection 3.1(d)(ii(d)(ii) above to the Series Non-Principal Collection Sub-subaccount and the Series Principal Collection Sub-subaccount of each such Series in accordance with Article III of the Daily Report and the related Supplement for such Series.. 60 Pooling Agreement (iv) No On the date of receipt of Aggregate Daily Collections, provided that such Aggregate Daily Collections are received prior to 1:00 p.m. on a Business Day, and if not, no later than the Business Day following each Deposit Date, except as otherwise provided in a Supplement, the Trustee shall (in accordance with the written direction of the Master Servicerdirections received pursuant to subsection (b)(ii) above) transfer to the Company Collection Subaccount the remaining portion of the Aggregate Daily Collections deposited into funds, if any, on deposit in the Collection Account pursuant to subsection (d)(i) above on such Report Date date after giving effect to transfers to be made pursuant to subsection 3.1(d)(ii)(d)(ii) above. (v) Any amounts In the event that Collections relating to Receivables with respect to which the Trustee has not received notice that such Receivables have been sold to the Company are deposited in the Collection Account but identified as not constituting Collections (including any amounts required to be refunded to a Lockbox Bank Account, the Trustee shall promptly (in respect of amounts previously credited by accordance with the written directions received pursuant to subsection (b)(ii) above), and not subject to any conditions, transfer such Lockbox Bank in respect of any dishonored checks) Collections to the Seller and such Collections shall be paid as directed by the Master Servicernot constitute Aggregate Daily Collections.

Daily Collections. (i) Promptly following its receipt of Collections in the form of available funds in the Lockbox Accounts or Eligible Segregated Accounts, but in no event later than one the Business Day following such receipt (each such Business Dayreceipt, the "Deposit Date"), the Master Servicer shall transfer, or cause to be transferred transferred, all Collections on deposit (less the aggregate amount of set-offs permitted to be retained pursuant to any applicable Lockbox Agreement or Concentration Account AgreementsEligible Segregated Accounts Agreement) in the form of available funds in the Lockbox Accounts, or Eligible Segregated Accounts and the Concentration Accounts to the Collection Account; provided that such amounts in the Lockbox Accounts may within such time period be transferred from the Lockbox Accounts to the Concentration Accounts and then from the Concentration Accounts directly to the Collection Account. (ii) No later than On the date funds become available in the Collection Account (unless received after 1:00 p.m., New York City time, on such date, then on the next Business Day following each Deposit DateDay) (the "DEPOSIT DATE"), the Trustee shall (in accordance with the written directions received from the Master ServicerServicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) transfer from Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(i) above on for such Deposit Date, to the respective Series Collection SubaccountSubaccount for each Outstanding Series, an amount equal to the product of (x) the applicable Invested Percentage for such Outstanding Series and (y) such Aggregate Daily Collections;. (iii) No later than the Business Day following On each Deposit Date, the Trustee shall (in accordance with the written direction of directions received from the Master ServicerServicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) allocate funds transferred to the Series Collection Subaccount for each Outstanding Series pursuant to subsection 3.1(d)(ii(d)(ii) above to the Series Non-Principal Collection Sub-subaccount and subaccount, the Series Principal Collection Sub-subaccount and such other Sub-subaccounts of each such Series in accordance with Article III of the related Supplement for such Series. (iv) No later than the Business Day following On each Deposit Date, except as otherwise provided in a Supplement, the Trustee shall (in accordance with the written direction of directions received from the Master ServicerServicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) transfer to the Company Collection Subaccount the remaining portion of the from Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(i) above on such Report Date Deposit Date, the remaining funds (less an amount equal to the costs and expenses, if any, incurred by the Trustee with respect to the sale of the Receivables pursuant to subsection 7.2(a) or 9.1(b) and reimbursable to the Trustee as provided in Section 8.5), if any, on deposit in the Collection Account on such date after giving effect to transfers to be made pursuant to subsection 3.1(d)(ii)(d)(ii) above. (v) Any amounts deposited in the Collection Account but identified as not constituting Collections (including any amounts required to be refunded to a Lockbox Bank in respect of amounts previously credited by such Lockbox Bank in respect of any dishonored checks) shall be paid as directed by the Master Servicer.