Collection of Moneys; No Set-Off Sample Clauses

Collection of Moneys; No Set-Off. (a) The Servicer shall direct all Users on or before the Series Issuance Date specified in the related Supplement to the ICI Indenture or the related Transfer Date (as the case may be) to send all amounts due with respect to the Serviced Assets, to the Master Lockbox Account. The Servicer shall identify all amounts relating to an item of Equipment, the related Contract or other Serviced Assets. Prior to the occurrence of an Amortization Event, an ICF Event of Default, an ICI Event of Default, a Lessor Event of Default, a Servicer Default, an incipient Amortization Event, an incipient ICF Event of Default, an incipient ICI Event of Default, an incipient Lessor Event of Default, or an incipient Servicer Default, and as long as no shortfall in ICF Available Funds or ICI Available Funds (for application pursuant to the related Indenture) would exist as of the immediately following Determination Date the Servicer, subject to Section 301 of the related Indenture, may withhold (and remit to itself) all amounts then payable to it. The Servicer shall, subject to its rights under the immediately preceding sentence, direct the deposit of all amounts received, or any amount equal to all amounts received, with respect to the Serviced Assets, into the ICF Holding Account no later than the third (3rd) Business Day succeeding deposit into the Master Lockbox Account. The Servicer shall further direct, by the fifth (5th) Business Day following the last day of the related Collection Period, to the ICF Collection Account all amounts to be deposited thereto pursuant to the ICF Indenture; provided that upon the occurrence of any of an Amortization Event, an ICF Event of Default, an ICI Event of Default, a Lessor Event of Default, a Servicer Default, an incipient Amortization Event, an incipient ICF Event of Default, an incipient ICI Event of Default, an incipient Lessor Event of Default, or an incipient Servicer Default, unless waived by the ICF Global Requisite Majority and the Rating Agency Condition is satisfied, the Servicer shall not have the right to withhold (and remit to itself) any such amounts then payable to it or to withdraw any amounts on deposit in any Securities Account and all funds on deposit in the ICF Holding Account shall be swept into the ICF Collection Account and all future funds received with respect to the Serviced Assets shall be automatically swept to the ICF Collection Account instead of the ICF Holding Account within three (3) Business Days after th...
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Related to Collection of Moneys; No Set-Off

  • Collection of Moneys Except as otherwise expressly provided in this Agreement, the Trustee and the Paying Agent may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee or the Paying Agent, as the case may be, pursuant to this Agreement. The Trustee or the Paying Agent, as the case may be, shall hold all such money and property received by it as part of the Trust and shall distribute it as provided in this Agreement. If the Trustee or the Paying Agent, as the case may be, shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee or the Paying Agent, as the case may be, shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee or the Paying Agent, as the case may be, shall subsequently receive any such amount, it may withdraw such request.

  • Collection of Money Except as otherwise expressly provided herein, the Indenture 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 money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall apply all such money received by it as provided in this Indenture. Except as otherwise expressly provided in this Indenture, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Estate, the Indenture Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V.

  • Application of Moneys Collected Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

  • Application of Moneys Received upon Sale Any moneys collected by the Trustee upon any sale made either under the power of sale given by this Agreement or otherwise for the enforcement of this Agreement shall be applied as provided in Section 4.02.

  • No Segregation of Moneys; No Interest Subject to Section 5.1, moneys received by the Eligible Lender Trustee hereunder need not be segregated in any manner except to the extent required by law or the Administration Agreement and may be deposited under such general conditions as may be prescribed by law, and the Eligible Lender Trustee shall not be liable for any interest thereon.

  • Collection of Monies Except as otherwise expressly provided in this Agreement, the Trustee may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee pursuant to this Agreement. The Trustee shall hold all such money and property received by it as part of the Trust Fund and shall distribute it as provided in this Agreement. If the Trustee shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee shall subsequently receive any such amount, it may withdraw such request.

  • Application of Moneys All moneys received by the Agent and/or the Security Trustee under or pursuant to any of the Security Documents and expressed to be applicable in accordance with the provisions of this clause 13.1 or in a manner determined in the Security Trustee’s or (as the case may be) the Agent’s discretion, shall be applied in the following manner:

  • Application of Money Collected Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

  • Segregation of Moneys; No Interest Moneys received by or on behalf of the Owner Trustee hereunder and deposited into the Collection Account will be segregated except to the extent required otherwise by law or the provisions of the Transfer and Servicing Agreement. The Owner Trustee shall not be liable for payment of any interest in respect of such moneys.

  • Application of Moneys Collected by Trustee Any moneys collected by the Trustee pursuant to this Article V shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such moneys, upon presentation of the several Debentures in respect of which moneys have been collected, and stamping thereon the payment, if only partially paid, and upon surrender thereof if fully paid:

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