Common use of Application of Collections on Settlement Dates Clause in Contracts

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Agent and the Administrative Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Agent with respect to such Settlement Period, to the Purchaser (i) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1.1(b)) and (ii) second, all remaining Collections as a reduction to Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Agent and the Administrative Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Agent with respect to such Settlement Period, to the Purchaser Investors (ia) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1.1(b3.1(a)(ii)) and (iib) second, all remaining Collections as a reduction to Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Agent and the Administrative Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Agent with respect to such Settlement Period, to the Purchaser or their respective assigns (i) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1.1(b)3.3) and (ii) second, all remaining Collections as a reduction to the Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Funding Agent and the Administrative Funding Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Funding Agent with respect to such Settlement Period, to the Purchaser (i) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1.1(b)3.3) and (ii) second, all remaining Collections as a reduction to the Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Agent and the Administrative Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Agent with respect to such Settlement Period, to the Purchaser Purchasers or their respective assigns (i) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1.1(b)3.3) and (ii) second, all remaining Collections as a reduction to the Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Agent and the Administrative Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Agent with respect to such Settlement Period, to the Purchaser Investors [Chrysler Receivables Sale Agreement] (i) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1.1(b)) and (ii) second, all remaining Collections as a reduction to Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Agent and the Administrative Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Agent with respect to such Settlement Period, to the Purchaser (i) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1.1(b)3.3) and (ii) second, all remaining Collections as a reduction to the Investment.