Common use of Turnover of Collections Clause in Contracts

Turnover of Collections. If NAFCO, the Administrator or any of their respective agents or representatives shall at any time receive any cash, checks or other instruments constituting Collections including any payments received by NAFCO on account of the Receivables, such recipient shall segregate such payments and hold such payments in trust for, and in a manner acceptable to the Trustee and shall, promptly upon receipt (and in any event within one Business Day following receipt), remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Certificate Account.

Turnover of Collections. If NAFCO, the Administrator or any of their respective agents or representatives shall at any time receive any cash, checks or other instruments constituting Collections including any payments received by NAFCO on account of the ReceivablesSeller Noncomplying Receivables Adjustment, such recipient shall segregate such payments and hold such payments in trust for, and in a manner acceptable to the Trustee and shall, promptly upon receipt (and in any event within one Business Day following receipt), remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to the Certificate Account.