TRANSFER OF COLLECTIONS Clause Samples

The "Transfer of Collections" clause governs the process by which ownership or possession of a collection—such as artworks, artifacts, or archival materials—is formally transferred from one party to another. Typically, this clause outlines the conditions under which the transfer occurs, including documentation requirements, inspection procedures, and any obligations regarding the state or completeness of the collection at the time of transfer. Its core practical function is to ensure a clear, documented change of custody or ownership, thereby reducing disputes and clarifying responsibilities between the parties involved.
TRANSFER OF COLLECTIONS. The parties hereto acknowledge that the Titling Trustee, on behalf of the Titling Trust, has made a complete transfer to the 1998-C Securitization Trustee of the Collections in respect of the 1998-C SUBI Assets contained in all accounts maintained by the Titling Trustee (excluding proceeds of the Residual Value Insurance Policies, as evidenced by the 1998-C SUBI Insurance Certificate, which are the sole property of the Transferor) and, except as provided in this 1998-C SUBI Securitization Trust Agreement, the 1998-C SUBI Supplement and the 1998-C SUBI Servicing Supplement, neither the Titling Trustee nor the Servicer has any right to direct such funds to a third party or to receive such funds (other than to receive such funds pursuant to an investment thereof in Permitted Investments on which such party is the obligor).
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TRANSFER OF COLLECTIONS. On of before the sixth Business Day prior to the relevant Transfer Date, each Transferor shall procure that the Trust Cash Manager is informed of the amount of Acquired Interchange for the prior Monthly Period.
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TRANSFER OF COLLECTIONS. The parties hereto acknowledge that the Origination Trustee, on behalf of the Origination Trust, has made a complete transfer to the 1999-A Owner Trustee of the Collections in respect of the 1999-A SUBI Assets contained in all accounts maintained by the Origination Trustee (excluding proceeds of the Residual Value Insurance Policy or any other residual value insurance policies, which are solely the property of the Origination Trust) and, except as provided in this 1999-A Securitization Trust Agreement, the 1999-A SUBI Supplement and the 1999-A Servicing Supplement, neither the Origination Trustee nor the Servicer has any right to direct such funds to a third party or to receive such funds (other than to receive such funds pursuant to an investment thereof in Eligible Investments on which Origination Trustee is the obligor).
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TRANSFER OF COLLECTIONS. (a) On the Closing Date and each Applicable Daily Settlement Date, each Seller shall deposit or cause to be deposited into a Lock-Box Account any Collections of Applicable Transferred Receivables received by such Seller on such date or deemed to have been received by such Seller on such date pursuant to Section 2.04(a) and/or Section 2.04(b) and then held by such Seller, provided that, for the avoidance of doubt, in the event any payment is received by a Seller in the form of a negotiable instrument or cash or cash equivalent delivered to such Seller’s offices (notwithstanding item (xix) in the definition of Eligible Receivables), the relevant Seller shall not be obliged to deposit such funds on the same date but shall take reasonable steps to ensure that such funds are promptly deposited into a Lock-Box Account. (b) In the event that a Seller believes that cash and cash proceeds due to such Seller which are not Collections of Transferred Receivables have been deposited into an account of the Purchaser or the Purchaser’s assignee, such Seller shall so advise the Purchaser and, promptly following such identification, the Purchaser shall remit, or shall cause to be remitted, to such Seller, all cash and cash proceeds so deposited which are identified, to the Purchaser’s satisfaction, to be cash and cash proceeds of Receivables of such Seller which are not Transferred Receivables. Without limiting the generality of the preceding sentence, the Purchaser shall return or cause to be returned to the relevant Seller any Collections deposited in a Lock-Box Account in respect of any Receivables arising prior to the Closing Date and not transferred hereunder. (c) The parties hereto understand and agree that the Purchaser intends, contemporaneously with each purchase of Receivables hereunder, to sell fractional ownership interests in such Receivables as Receivable Interests to the Conduit Purchaser pursuant to the Receivables Purchase Agreement.
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TRANSFER OF COLLECTIONS. The Borrower (or its authorized agents, including the Check-Casher) shall instruct the Collateral Agent to transfer all ▇▇▇▇▇▇tions from the relevant Vault Collection Accounts into the Trust Collection Account to the extent necessary to make the distributions set forth in Sections 3.03(d), (e) and (f). The Collateral Agent shall make such transfers in accordance with instructions from the Borrower or its authorized agents.
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Related to TRANSFER OF COLLECTIONS

  • Application of Collections All collections for the Collection Period shall be applied by the Servicer as follows: (a) With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor, (other than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest Method. (b) All amounts collected that are payable to the Servicer as Supplemental Servicing Fees hereunder shall be deposited in the Collection Account and paid to the Servicer in accordance with Section 5.7(a).

  • Deposit of Collections The Borrower shall promptly (but in no event later than two Business Days after receipt) deposit or cause to be deposited into the Collection Account any and all Available Collections received by the Borrower, the Servicer or any of their Affiliates.

  • Application of Payments and Collections All items of payment received by Agent by 12:00 noon, Chicago, Illinois, time, on any Business Day shall be deemed received on that Business Day. All items of payment received after 12:00 noon, Chicago, Illinois, time, on any Business Day shall be deemed received on the following Business Day. Borrower irrevocably waives the right to direct the application of any and all payments and collections at any time or times hereafter received by Agent from or on behalf of Borrower, and Borrower does hereby irrevocably agree that Agent shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time or times hereafter by Agent or its agent against the Obligations, in such manner as Agent may deem advisable, notwithstanding any entry by Agent or any Lender upon any of its books and records. Amounts received by the Agent shall be for further credit to the accounts of Lenders pursuant to the settlement procedures contained in subsection 3.1.3 of this Agreement. Notwithstanding the foregoing, payments and collections shall not be applied to Obligations consisting of Derivative Obligations or Product Obligations at any time that any other Obligations are then due and payable. If as the result of collections of Accounts as authorized by subsection 6.2.4 hereof or otherwise, a credit balance exists in the Loan Account, such credit balance shall not accrue interest in favor of Borrower, but shall be disbursed to Borrower or otherwise at Borrower's direction in the manner set forth in subsection 3.1.2, upon Borrower's request at any time, so long as no Default or Event of Default then exists. Agent may at its option, offset such credit balance against any of the Obligations upon and during the continuance of an Event of Default.

  • Rights of Collection Exercise on behalf of the Lenders all of its other rights and remedies under this Agreement, the other Loan Documents and Applicable Law, in order to satisfy all of the Borrower's Obligations.

  • Compromises and Collection of Collateral The Grantors and the Administrative Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Administrative Agent may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine or abandon any Receivable, and any such action by the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action.