Application of Collections Distributable to SPV. The Servicer shall allocate and apply, on behalf of the SPV, Collections distributable to the SPV hereunder pursuant to Section 2.12(c)(vi), in accordance with the instructions of the SPV, provided that the SPV shall instruct the Servicer to allocate and apply such Collections so that the operating expenses and other contractual obligations of the SPV are timely paid when due.
Appears in 8 contracts
Samples: Transfer and Administration Agreement (Greif, Inc), Transfer and Administration Agreement (Greif, Inc), Transfer and Administration Agreement (Greif, Inc)
Application of Collections Distributable to SPV. The Servicer shall allocate and apply, on behalf of the SPVAgent, Collections distributable to the SPV hereunder pursuant to Section 2.12(c)(vi), in accordance with the instructions of the SPV, provided that the SPV shall instruct the Servicer to allocate and apply such Collections so that the operating expenses and other contractual obligations of the SPV (including under the First Tier Agreement) are timely paid when due.
Appears in 2 contracts
Samples: Transfer and Administration Agreement (Colliers International Group Inc.), Canadian Transfer and Administration Agreement (Colliers International Group Inc.)
