Common use of Closed-End Collections on the Reference Pools Clause in Contracts

Closed-End Collections on the Reference Pools. Following the applicable Posted Dates, the Closed-End Servicer will deposit the Closed-End Collections with respect to each Reference Pool into the related Exchange Note Collection Account pursuant to the remittance schedule set forth in the related Servicing Supplement. If no such remittance schedule is specified in the Servicing Supplement with respect to any Reference Pool, the Closed-End Servicer will be permitted to retain Closed-End Collections with respect to such Reference Pool for its own account until such amounts are required to be applied pursuant to the Collateral Agency Agreement, the applicable Exchange Note Supplement and/or the applicable Servicing Supplement.