Examples of Available Collections in a sentence
Any Obligation hereunder shall not be reduced by any distribution of any portion of Available Collections if at any time such distribution is rescinded or required to be returned by any Lender to the Borrower or any other Person for any reason.
The Borrower shall promptly (but in no event later than two Business Days after its receipt or ten days after receipt by any of its Affiliates) deposit or cause to be deposited into the Collection Account any and all Available Collections received by the Borrower, any of their Affiliates.
The Borrower acknowledges that all Available Collections received by it or its Affiliates or the Custodian with respect to the Collateral transferred or Transferred hereunder are held and shall be held in trust for the benefit of the Collateral Agent.
As compensation for the performance of its obligations hereunder, the Servicer shall be entitled to receive on each Payment Date, out of Available Collections, the Total Servicing Fee.
In such event, the reasonable legal expenses and costs for such action and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust Estate and the Servicer will be entitled to be reimbursed therefor solely from Available Collections.