Common use of Alternative Collection Practices Clause in Contracts

Alternative Collection Practices. With respect to certain Loans, the Servicer may make Collections thereon by debiting the appropriate amounts from designated accounts of the related Obligor. Within two (2) Business Days of receipt by the Servicer of the amounts so debited, the Servicer will cause the amounts so received belonging to the Issuer to be deposited into the Lockbox Account, and thereupon credited to the Collection Account.

Alternative Collection Practices. With respect to certain Loans, the Servicer may make Collections thereon by debiting the appropriate amounts from designated accounts of the related Obligor. Within two (2) Business Days of receipt by the Servicer of the amounts so debited, the Servicer will cause the amounts so received belonging to the Issuer to be deposited into the Lockbox Account or, following the date on which the Master Collection Account Control Agreement and Master Collection Account Agency Agreement become effective, the Master Collection Account, and in either case thereupon credited to the Collection Account.