Common use of Additional Deposits and Payments Clause in Contracts

Additional Deposits and Payments. (a) On the date specified in Section 3.4 of the Purchase Agreement, as applicable, the Servicer and BAC, as applicable, will deposit into the Collection Account the aggregate Repurchase Price with respect to Repurchased Receivables purchased or repurchased by the Servicer or BAC, respectively, on such date, and on the Payment Date specified in Section 4.1 of the Receivables Contribution Agreement, the Servicer will deposit into the Collection Account all amounts, if any, to be paid under Section 4.1 of the Receivables Contribution Agreement. All such deposits with respect to any such date which is a Payment Date will be made, in immediately available funds by noon, Mountain Standard Time, on the Business Day immediately preceding such Payment Date related to such Collection Period.