Collection of Funds. Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Indenture Trustee under this Indenture and the Sale and Servicing Agreement. The Indenture Trustee will apply the funds and other property received by it, and will make deposits to, and distributions from, the Bank Accounts, under this Indenture and the Sale and Servicing Agreement.
Collection of Funds. Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Note Paying Agent under this Indenture, the Master Collateral Agreement and the Transfer and Servicing Agreement. The Note Paying Agent will apply the funds and other property received by it, and will make deposits into, and distributions from, the Series 2022-7 Accounts, under this Indenture, the Master Collateral Agreement and the Transfer and Servicing Agreement.
Collection of Funds. Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Note Paying Agent under this Indenture and the Transfer and Servicing Agreement. The Note Paying Agent will apply the funds and other property received by it, and will make deposits into, and distributions from, the Bank Accounts, under this Indenture and the Transfer and Servicing Agreement. The Issuer, or the Administrator on its behalf, will direct the Cap Counterparty to remit any Cap Payments into the Collection Account on or before the second Business Day preceding each Payment Date.
Collection of Funds. All proceeds of notes, instruments, Inventory and Receivables of Borrower shall be collected into a lockbox account established by Borrower with the Agent pursuant to the Lockbox Agreement (the “Lockbox Account”). Promptly after the execution of this Agreement, Borrower shall direct each of its Account Debtors to make all payments to Borrower directly into the Lockbox Account. Borrower shall hold in trust for the Agent and immediately remit to the Agent by depositing the same into the Lockbox Account all checks, notes, cash and other proceeds of its Receivables as well as all proceeds from the sale of inventory, securities (other than securities issued by Borrower) and other Collateral and other cash receipts of every kind and nature (other than the proceeds of other borrowings expressly permitted by this Agreement). Borrower agrees that all payments received in the Lockbox Account will be the sole and exclusive property of the Agent. The Agent shall on the Business Day on which any payment is received into the Lockbox Account, and on a provisional basis until the final receipt of good funds, credit such payments to the principal amount of the outstanding Revolving Advances as a prepayment of such Revolving Advances. Any such provisional credit is subject to reversal if the final collection of a payment is not received by the Agent within five (5) Business Days following the initial receipt of such payment and will thereafter be credited when such payment is actually received in good funds. If at the time of any such credit there are no outstanding Revolving Advances such credit shall (i) if a Default or an Event of Default shall exist, be credited to a cash collateral account under the sole dominion and control of the Agent until such Default or Event of Default is cured by Borrower or waived by Agent or (ii) subject to the provisions of Section 2.2B(d), to amounts due on the Mortgage Loan, in each case in the inverse order of maturity, (iii) be applied to cash collateralize any outstanding Letters of Credit, or (iv) otherwise be made to Borrower’s regular account with Lender.
Collection of Funds. Except as otherwise expressly provided herein, the Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all amounts and other property payable to or receivable by the Trustee pursuant to this Indenture, including all payments due on the Assets, in accordance with the terms and conditions of such Assets. The Trustee shall segregate and hold all such amounts and property received by it in trust for the Holders of the Securities and shall apply it as provided herein. Each Account shall be established and maintained (a) with a federal or state-chartered depository institution that has a short-term debt rating of at least “A-1” and a long-term issuer credit rating of at least “A” (or, in the absence of a short-term debt rating, a long-term issuer credit rating of at least “A+”) by S&P or (b) in segregated trust accounts with the corporate trust department of a federal or state-chartered deposit institution that has a short-term debt rating of at least “A-1” and a long-term issuer credit rating of at least “A” (or, in the absence of a short-term debt rating, a long-term issuer credit rating of at least “A+”) by S&P and is subject to regulations regarding fiduciary funds on deposit similar to Title 12 of the Code of Federal Regulation Section 9.10(b) (an “Eligible Institution”) and, in each case, if such institution’s rating falls below any such rating threshold, the assets held in such Account shall be moved within 30 calendar days to another institution that satisfies those ratings. Such institution shall have a combined capital and surplus of at least U.S.$200,000,000. All Cash deposited in the Accounts shall be invested only in Eligible Investments or Collateral Obligations in accordance with the terms of this Indenture. To avoid the consolidation of the Assets of the Issuer with the general assets of the Bank under any circumstances, the Trustee shall comply, and shall cause the Custodian to comply, with all law applicable to it as a Massachusetts trust company holding segregated trust assets in a fiduciary capacity. Notwithstanding anything herein to the contrary, the Trustee shall not credit or otherwise deposit Excluded Property into any Account. The Co-Issuer shall have no legal, equitable or beneficial interest in an Account.
Collection of Funds. Manager shall be solely responsible for the collection and accounting of all rent and other charges due from Residents and to deposit all amounts collected into bank accounts established by Owner. Manager agrees to comply with requirements imposed by Owner and Owner's lender on the collection and handling of security deposits, rents and other Project revenues.
(a) Owner has or will establish bank accounts for the Project, including an account to hold reservations and security deposits (the "Reservations/Security Deposit Account")and an account for the deposit and retention of rents and other charges and proceeds from the Project (other than reservations and security deposits) due from Residents (the "Operating Account"). Owner shall have continuous access to such accounts, including signatory access and Owner may elect to provide Manager with concurrent signatory access, subject to such limitations as Owner may prescribe.
(b) Manager will diligently pursue the collection, deposit (and if permitted by Owner, the disbursement) of advance reservation deposits and security deposits in accordance with the terms of each Lease and the laws of the State into and from the Reservations/Security Deposit Account. Funds deposited in the Reservations/Security Deposit Account shall not be commingled by Manager with any funds of Manager.
(c) Manager shall deposit all rents and other charges and proceeds from the Project (other than the deposits made to the Reservations/Security Deposit Account) into the Operating Account. Such funds shall not be commingled with any funds of Manager (except that Manager may maintain a pxxxx cash fund of no more than $2,500.00). To the extent delegated signature authority to the Operating Account, Manager shall cause the funds thus made available for such purposes to be applied in a timely manner to the following items (in each case, however, only if such application constitutes an Authorized Expenditure): (i) amounts due and payable as operating expenses of the Project as permitted hereby, including Manager's Monthly Management Fees and its Reimbursable Expenditures; (ii) amounts of ad valorem taxes and other impositions levied against the Project, including but not limited to any municipal assessments and property owners' association assessments; and (iii) all other items for which application has been requested by Manager and approved by Owner. On a monthly basis, any balance of funds in excess of the Minimum Account Balance, available t...
Collection of Funds. Following the occurrence and during the continuance of a Cash Dominion Event, each Canadian Loan Party hereby irrevocably authorizes and empowers the Collateral Agent and its respective officers, employees and authorized agents to endorse and sign its name on all checks, drafts, money orders or other media of payment delivered pursuant to this Section, and such endorsements or assignments shall, for all purposes, be deemed to have been made by the relevant Canadian Loan Party prior to any endorsement or assignment thereof by the Collateral Agent. Following the occurrence and during the continuance of a Cash Dominion Event, the Collateral Agent may use any convenient or customary means for the purpose of collecting such checks, drafts, money orders or other media of payment.
Collection of Funds. Following the occurrence and during the continuance of a Cash Dominion Event, each U.S. Loan Party hereby irrevocably authorizes and empowers the Collateral Agent and its respective officers, employees and authorized agents to endorse and sign its name on all checks, drafts, money orders or other media of payment delivered pursuant to this Section, and such endorsements or assignments shall, for all purposes, be deemed to have been made by the relevant U.S. Loan Party prior to any endorsement or assignment thereof by the Collateral Agent. Following the occurrence and during the continuance of a Cash Dominion Event, the Collateral Agent may use any convenient or customary means for the purpose of collecting such checks, drafts, money orders or other media of payment.
Collection of Funds. All premium payments by insureds or proposed insureds shall be by check, money order or cashiers check payable to the Company. Sub-Producer is not authorized to collect any check, money order or cashiers check payable to Sub-Producer for premiums due to the Company. All collections made by Sub-Producer shall be kept entirely separate and distinct from any other funds in Sub-Producer's possession, and Sub-Producer shall forward all such funds to the Company within fifteen (15) working days. In no case shall Sub-Producer make any use of these funds. Should Sub-Producer withhold any funds, policies, certificates, receipts or other property belonging to the Company or to any applicant for insurance, this Agreement shall be immediately terminable by the Company.
Collection of Funds. Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Note Paying Agent under this Indenture and the Transfer and Servicing Agreement. The Note Paying Agent will apply the funds and other property received by it, and will make deposits into, and distributions from, the Bank Accounts, under this Indenture and the Transfer and Servicing Agreement. [The Issuer, or the Administrator on its behalf, will direct the [Cap][Swap] Counterparty to remit any [Cap][Swap] Payments into the Collection Account on or before the second Business Day preceding each Payment Date.]
