Common use of Distribution and Application of Collections Clause in Contracts

Distribution and Application of Collections. The Servicer shall set aside and segregate funds and shall be required to segregate all Collections on the Receivables from the other funds belonging to the Servicer. The Servicer shall as soon as practicable following receipt turn over to the applicable Originator the Collections of any Receivable which is not a Transferred Asset less, in the event neither OutSource International, an Originator nor an Affiliate thereof is the Servicer, all reasonable and appropriate out-of-pocket costs and expenses of such Servicer of servicing, collecting and administering the Receivables to the extent not covered by the Servicer Fee received by it.

Distribution and Application of Collections. The Servicer shall set aside and segregate funds to the extent required in the Receivables Purchase Agreement and shall be required to segregate all Collections on the Receivables from the other funds belonging to the Servicer. The Servicer shall as soon as practicable following receipt turn over to the applicable Originator the Collections of any Receivable which is not a Transferred Asset less, in the event neither OutSource International, an Originator nor an Affiliate thereof is the Servicer, all reasonable and appropriate out-of-pocket costs and expenses of such Servicer of servicing, collecting and administering the Receivables to the extent not covered by the Servicer Fee received by it.