Common use of Treatment of Collections and Deemed Collections Clause in Contracts

Treatment of Collections and Deemed Collections. Seller shall forthwith deliver to Servicer all Collections deemed received by Seller pursuant to Sections 3.03(a) and 3.04 and Servicer shall hold or distribute such Collections as Earned Discount, accrued Servicer's Fee, repayment of Purchaser's Investments, etc. to the same extent as if such Collections had actually been received on such date. If Collections are then being paid to the Agent, or lock boxes or accounts directly or indirectly owned or controlled by the Agent, Servicer shall forthwith cause such deemed Collections to be paid to the Agent or such lock boxes or accounts. So long as Seller shall hold any Collections or deemed Collections required to be paid to Servicer or the Agent, it shall hold such Collections in trust and separate and apart from its own funds and shall clearly ▇▇▇▇ its records to reflect such trust.

Treatment of Collections and Deemed Collections. Seller shall deliver forthwith deliver to Servicer an amount equal to all Collections deemed received by Seller pursuant to Sections 3.03(a) Section 3.04(a), and 3.04 and Servicer Seller shall hold or distribute such Collections as Earned DiscountYield, accrued Servicer's Fee, repayment of Purchaser's InvestmentsInvestment, etc. to the same extent as if such Collections had actually been received on such date. If Collections are then being paid to the Agent, or lock boxes or accounts directly or indirectly owned or controlled by the Agent, Servicer shall forthwith cause such any deemed Collections to be paid to the Agent or such lock boxes or accounts. So long as Seller shall hold any Collections or deemed Collections required to be paid to Servicer or the Agent, it shall hold such Collections in trust and separate and apart from its own funds and shall clearly ▇▇▇▇ its records to reflect such trust.