Common use of Collections Following Amortization Clause in Contracts

Collections Following Amortization. On the Amortization Date and on each day thereafter, the Servicer shall set aside and hold in trust, for the holder of each Purchaser Interest, all Collections and Deemed Collections received on such day and an additional amount of funds of the Seller for the payment of any accrued and unpaid Obligations owed by the Seller and not previously paid by the Seller in accordance with Section 2.1. On and after the Amortization Date, the Servicer shall (i) remit to the each Managing Agent’s account ratably in accordance with the Pro Rata Share of such Managing Agent’s Purchaser Group the amounts set aside pursuant to the preceding sentence, and (ii) apply such amounts to reduce the Aggregate Capital and any other Aggregate Unpaids.

Collections Following Amortization. On the Amortization Date and on each day thereafter, the Servicer shall set aside and hold in trust, for the holder of each Purchaser Interest, all Collections and Deemed Collections received on such day and an additional amount of funds of the Seller for the payment of any accrued and unpaid Obligations owed by the Seller and not previously paid by the Seller in accordance with Section 2.1. On and after the Amortization Date, the Servicer shall shall, at any time upon the request from time to time by (or pursuant to standing instructions from) the Agent or any Managing Agent (i) remit to the Agent’s account each Managing Agent’s account ratably respective account, in accordance with the Pro Rata Share Shares of such Managing Agent’s their Purchaser Group Groups, the amounts set aside pursuant to the preceding sentence, and (ii) apply such amounts to reduce the Aggregate Capital associated with each such Purchaser Interest and any other Aggregate Unpaids.

Collections Following Amortization. On the Amortization Date and on each day thereafter, the Servicer shall set aside and hold in trust, for the holder of each Purchaser Interest, all Collections and Deemed Collections received on such day and an additional amount of funds of the Seller for the payment of any accrued and unpaid Obligations owed by the Seller and not previously paid by the Seller in accordance with Section 2.1. On and after the Amortization Date, the Servicer shall shall, at any time upon the request from time to time by (or pursuant to standing instructions from) the Agent or any Managing Agent (i) remit to the each Managing Agent’s account ratably respective account, in accordance with the Pro Rata Share Shares of such Managing Agent’s their Purchaser Group Groups, the amounts set aside pursuant to the preceding sentence, and (ii) apply such amounts to reduce the Aggregate Capital associated with each such Purchaser Interest and any other Aggregate Unpaids.