Common use of Misdirected Collections Clause in Contracts

Misdirected Collections. The Co-Issuers agree that if any Collections shall be received by any Co-Issuer or any other Securitization Entity (or by the Servicer on their behalf) in an account other than a Concentration Account or the Collection Account or in any other manner, such monies, instruments, cash and other proceeds will not be commingled by such Co-Issuer or such other Securitization Entity (or, in each case, by the Servicer, as the case may be) with any of their other funds or property, if any, but will be held separate and apart therefrom and shall be held in trust by such Co-Issuer or such other Securitization Entity (or, in each case, but the Servicer, as the case may be) for the benefit of the Secured Parties, and, within one (1) Business Day of the identification of such payment shall be deposited to the Concentration Account, or paid over to the Indenture Trustee, with any necessary endorsement. In the event the Servicer determines that amounts previously held in the Concentration Account should have been applied in accordance with the Weekly Collections Allocation Priority, but were instead misdirected to the Collection Account, the Indenture Trustee shall withdraw from the Collection Account any monies on deposit therein that the Servicer certifies to it and the Series Controlling Parties are monies incorrectly deposited into the Collection Account and pay such amounts to or at the direction of the Servicer. All monies, instruments, cash and other proceeds received by the Indenture Trustee pursuant to the Indenture shall be immediately deposited in the Collection Account and shall be applied as provided in this Article X.

Misdirected Collections. (i) The Co-Issuers agree that if any Collections shall be received by any Co-Issuer or any other Securitization Entity (or by the Servicer on their behalf) in an account other than a the Concentration Account or the Collection Account or in any other manner, such monies, instruments, cash and other proceeds will not be commingled by such Co-Issuer or such other Securitization Entity (or, in each case, by the Servicer, as the case may be) with any of their other funds or property, if any, but will shall be held separate and apart therefrom and shall be held in trust by such Co-Issuer or such other Securitization Entity (or, in each case, but the Servicer, as the case may be) for the benefit of the Secured Partiesfor, and, within one (1) Business Day of the identification of such payment shall be deposited payment, paid over to, the Transaction Manager or the Trustee, as applicable, for deposit to the Concentration Account, or paid over to the Indenture Trusteeappropriate account, with any necessary endorsement. In the event the Servicer determines that amounts previously held in the Concentration Account should have been applied in accordance with the Weekly Collections Allocation Priority, but were instead misdirected to the Collection Account, the Indenture . (ii) The Trustee shall withdraw from the Collection Account any monies on deposit therein that the Servicer Transaction Manager certifies to it and the Series Controlling Parties are monies incorrectly deposited into the Collection Account not Collections and pay such amounts to or at the direction of the Servicer. Transaction Manager. (iii) All monies, instruments, cash and other proceeds received by the Indenture Trustee pursuant to the Indenture shall be immediately deposited in the Collection Account and shall be applied as provided in this Article X.V. (iv) To the extent of amounts deposited in any Securitization Entity Account that the Transaction Manager determines were required to be deposited to another Securitization Entity Account pursuant to the terms of the Base Indenture, the Transaction Manager agrees, within one (1) Business Day of the identification of such amount, to transfer such amounts to such other Securitization Entity Account.