Common use of Collection of Moneys Clause in Contracts

Collection of Moneys. (a) 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 money and other property payable to or receivable by the Trustee pursuant to this Amended and Restated Indenture. The Trustee shall apply all such money received by it as provided in this Amended and Restated Indenture. Except as otherwise expressly provided in this Amended and Restated Indenture, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Property, the Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. Notwithstanding the foregoing, the Trustee shall not be obligated to act as Servicer prior to its being appointed Successor Servicer. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Amended and Restated Indenture and any right to proceed thereafter as provided in Article VI. If at any time the Issuer shall receive any payment on or in respect of any Contract or Equipment (including any Residual Payment), it shall hold such payment in trust for the benefit of the Trustee and the Noteholders, shall segregate such payment from the other property of the Issuer, and shall, within two Business Days of receipt, deliver such payment in immediately available funds to the Trustee.

Collection of Moneys. (a) 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 money and other property payable to or receivable by the Trustee pursuant to this Amended and Restated Indenture. The Trustee shall apply all such money received by it as provided in this Amended and Restated Indenture. Except as otherwise expressly provided in this Amended and Restated Indenture, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Property, the Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. Notwithstanding the foregoing, the Trustee shall not be obligated to act as Servicer prior to its being appointed Successor Servicer. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Amended and Restated Indenture and any right to proceed thereafter as provided in Article VI. If at any time the Issuer shall receive any payment on or in respect of any Contract or Equipment (including any Residual Payment), it shall hold such payment in trust for the benefit of the Trustee and the Noteholders, shall segregate such payment from the other property of the Issuer, and shall, within two Business Days of receipt, deliver such payment in immediately available funds to the Trustee.

Collection of Moneys. (a) 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 money and other property payable to or receivable by the Trustee pursuant to this Amended and Restated Indenture. The Trustee shall apply all such money received by it as provided in this Amended and Restated Indenture. Except as otherwise expressly provided in this Amended and Restated Indenture, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Property, the Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. Notwithstanding the foregoing, the Trustee shall not be obligated to act as Servicer prior to its being appointed Successor Servicer. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Amended and Restated Indenture and any right to proceed thereafter as provided in Article VI. If at any time the Issuer shall receive any payment on or in respect of any Contract or Equipment (including any Residual Payment), it shall hold such payment (except for the Residual Payment which the Issuer shall hold for the benefit of the Transferor (or its assignee)) in trust for the benefit of the Trustee Trustee, the Swap Providers and the Noteholders, shall segregate such payment from the other property of the Issuer, and shall, within two Business Days of receipt, deliver such payment in immediately available funds to the Trustee.