Application of Proceeds; No Duty. Neither the Administrative Agent nor the Lenders shall be under any duty at any time to credit Borrower for any amount due from any Approved Investor in respect of any purchase of any Mortgage Collateral contemplated under Section 3.3(b) above, until such amount has actually been received in immediately available funds and deposited to the Collection Account. Neither the Collateral Agent, nor the Lenders, nor the Administrative Agent shall be under any duty at any time to collect any amounts or otherwise enforce any obligations due from any Approved Investor in respect of any such purchase.
Application of Proceeds; No Duty. Neither of the Collateral Agent nor any Secured Party shall be under any duty at any time to credit the Borrower for any amount due from any third party in respect of any purchase of any Collateral contemplated above as a portion of the related Transfer Release Price, until the Collateral Agent has actually received such amount in immediately available funds for deposit to the Collection Account. Neither the Collateral Agent nor any Secured Party shall be under any duty at any time to collect any amounts or otherwise enforce any obligations due from any third party in respect of any such purchase of Receivables covered by the release of such portion of Collateral or in respect of a securitization thereof with a third party.
Application of Proceeds; No Duty. Neither the Administrative Agent, nor the Custodian, nor any Purchaser shall be under any duty at any time to credit the Sellers for any amounts due from any Approved Take-Out Investor in respect of any purchase of any Mortgage Assets contemplated under Section 3.4(b) above, until the Administrative Agent has actually received such amount in the form of immediately available funds, for deposit to the Collection Account. Neither the Administrative Agent, nor the Custodian, nor any Purchaser shall be under any duty at any time to collect any amounts or otherwise enforce any obligations due from any Approved Take-Out Investor in respect of any such purchase.
Application of Proceeds; No Duty. Neither the Administrative Agent nor any other Secured Party shall be under any duty at any time (i) to credit the Borrower for any amount due from any third party in respect of any sale of any Collateral to such third party, until the Administrative Agent has actually received such amount in immediately available funds for deposit to the Distribution Account or (ii) to collect any amounts or otherwise enforce any obligations due from any third party in respect of any such sale.
Application of Proceeds; No Duty. Subject to the next sentence of this -------------------------------- Subsection 3.04(d), Lender shall not be under any duty at any time to credit Borrower for any amounts due from any Investor in respect of any purchase of any Mortgage Collateral contemplated under Subsection 3.04(b) above, until Lender has actually received immediately available funds. Any funds so received will be treated as payments under and processed and applied in accordance with Section 2.07. Lender shall not be under any duty at any time to collect any amounts or otherwise enforce any obligations due from an Investor in respect of any such purchase.
Application of Proceeds; No Duty. Subject to the next sentence of this SUBSECTION 3.4(d), Bank One shall not be under any duty at any time to credit Borrower for any amounts due from any Approved Investor in respect of any purchase of any Consumer Notes contemplated under SUBSECTION 3.4(b) above, until Bank One has actually received immediately available funds. Any funds so received will be treated as payments under and processed and applied in accordance with SECTION 2.
Application of Proceeds; No Duty. Subject to the next sentence -------------------------------- of this subsection 3.04(e), the Bank shall be under no duty at any time to ------------------ credit Borrower for any amounts due from any Investor in respect of any purchase of any Mortgage Collateral contemplated under Section 3.04(c) --------------- above, until the Bank has actually received immediately available funds for such Mortgage Collateral in the amount required pursuant to Subsection ---------- 3.04(c)(iii). Any funds so received will be treated as payments under and ------------ processed and applied in accordance with Section 2.06. The Bank shall be ------------ under no duty at any time to collect any amounts or otherwise enforce any obligations due from any Investor in respect of any such purchase.
Application of Proceeds; No Duty. Neither the Administrative Agent nor the Lenders shall be under any duty at any time to credit the Borrower for any amount due from any third party in respect of any purchase of any Collateral contemplated above, until the Administrative Agent has actually received such amount in immediately available funds for deposit into the Collection Account. Neither the Administrative Agent nor the Lenders shall be under any duty at any time to collect any amounts or otherwise enforce any obligations due from any third party in respect of any such sale or transfer of Receivables covered by the release of such portion of Collateral or in respect of a securitization thereof with a third party.
Application of Proceeds; No Duty. Neither of the Agent, nor the Custodian, nor any Secured Party shall be under any duty at any time to credit Borrower for any amount due from any third party in respect of any purchase of any Borrower Collateral contemplated above, until the Custodian has actually received such amount in immediately available funds for deposit to the Collection Account. Neither the Custodian nor any Secured Party, nor the Agent shall be under any duty at any time to collect any amounts or otherwise enforce any obligations due from any third party in respect of any such purchase of
Application of Proceeds; No Duty. Subject to the next sentence of this SUBSECTION 3.4(d), Bank One shall not be under any duty at any time to credit Borrower for any amounts due from any Approved Investor in respect of any purchase of any Consumer Notes contemplated under SUBSECTION 3.4(b) above, until Bank One has actually received immediately available funds. Any funds so received will be treated as payments under and processed and applied in accordance with SECTION 2.8. Bank One shall not be under any duty at any time to collect any amounts or otherwise enforce any obligations due from an Approved Investor in respect of any such purchase.
