Common use of Release of Collections Clause in Contracts

Release of Collections. In the event that the Servicer releases any Collections from the Collection Account in contravention of the Series 2017-One Indenture Supplement or any other Transaction Document to which the Servicer is a party, the Servicer shall pay to the Issuer, in immediately available funds, the amount of such improperly released Collections.

Appears in 2 contracts

Sources: Purchase Agreement (Atlanticus Holdings Corp), Purchase Agreement (Atlanticus Holdings Corp)

Release of Collections. In the event that the Servicer releases any Collections from the Collection Account in contravention of the Series 2017-One Indenture Supplement or any other Transaction Document to which the Servicer is a party, the Servicer shall pay to the Issuer, in immediately available funds, the amount of such improperly released Collections.

Appears in 1 contract

Sources: Purchase Agreement (Atlanticus Holdings Corp)