Collections in General. Subject to the last paragraph of this Section 5.4(a), until this Indenture is terminated pursuant to Section 12.1, the Issuer shall or shall cause the Servicer under the Servicing Agreement to cause all Collections due and to become due, as the case may be, to be paid directly into the Collection Account as promptly as possible after the date of receipt of such Collections, but in no event later than the second Business Day following such date of receipt and identification. All monies, instruments, cash and other proceeds received by the Servicer in respect of the Receivables Trust Estate pursuant to this Indenture and the Trust Estate shall be deposited in the Collection Account as specified herein and shall be applied as provided in this Article 5 and Article 6. The Servicer shall allocate such amounts to each Series of Notes and to the Issuer in accordance with this Article 5 and shall withdraw the required amounts from the Collection Account or pay such amounts to the Issuer in accordance with this Article 5, in both cases as modified by any Series Supplement. The Servicer shall make such deposits or payments on the date indicated therein by wire transfer or as otherwise provided in the Series Supplement for any Series of Notes with respect to such Series. Notwithstanding anything in this Base Indenture or the Servicing Agreement to the contrary, for so long as, and only so long as, the Monthly Remittance Condition is satisfied, the Issuer shall not be required to cause the Servicer to make daily deposits of Collections into the Collection Account within two Business Days after identification in the manner provided in this Article 5 or as required under the Servicing Agreement prior to the close of business on the day any such Collections are due to be deposited, but instead, the Servicer may commingle such Collections with its general funds or otherwise during each Monthly Period and make one or more deposits in the Collection Account in immediately available funds not later than 12:00 p.m., New York City time, on the related Series Transfer Date immediately preceding the related Payment Date in an amount equal to Collections received in the immediately preceding Monthly Period. If the Monthly Remittance Condition is not satisfied, the Issuer shall or shall cause the Servicer under the Servicing Agreement to cause all Collections due and to become due, as the case may be, to be paid directly into the Collection Account as promptly as possible after the date of receipt of such Collections, but in no event later than the second Business Day following such date of identification.
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Samples: Base Indenture (Conns Inc), Base Indenture (Conns Inc), Base Indenture (Conns Inc)
Collections in General. Subject to the last paragraph of this Section 5.4(a), until this Indenture is terminated pursuant to Section 12.1, the Issuer shall or shall cause the Servicer under the Servicing Agreement to cause all Collections due and to become due, as the case may be, to be paid directly into the Collection Account as promptly as possible after the date of receipt of such Collections, but in no event later than the second Business Day following such date of receipt and identificationreceipt. All monies, instruments, cash and other proceeds received by the Servicer in respect of the Receivables Trust Estate pursuant to this Indenture and the Trust Estate shall be deposited in the Collection Account as specified herein and shall be applied as provided in this Article 5 and Article 6. The Servicer shall allocate such amounts to each Series of Notes and to the Issuer in accordance with this Article 5 and shall withdraw the required amounts from the Collection Account or pay such amounts to the Issuer in accordance with this Article 5, in both cases as modified by any Series Supplement. The Servicer shall make such deposits or payments on the date indicated therein by wire transfer or as otherwise provided in the Series Supplement for any Series of Notes with respect to such Series. Notwithstanding anything in this Base Indenture or the Servicing Agreement to the contrary, and in consideration of and reliance upon the Issuer and the Servicer securing the Servicer Letter of Credit, for so long as, and only so long as, no Daily Payment Event shall have occurred and the Monthly Remittance Condition is satisfiedaggregate amount of Collections then held by the Servicer or otherwise commingled with its general funds does not exceed the Available Servicer Letter of Credit Amount under the Servicer Letter of Credit, the Issuer shall not be required to cause the Servicer to make daily deposits of Collections into the Collection Account within two Business Days after identification in the manner provided in this Article 5 or as required under the Servicing Agreement or, with respect to any Series, make daily payments from and daily deposits into the Finance Charge Account, the Principal Account or any Series Account as provided in any applicable Series Supplement prior to the close of business on the day any such Collections are due to be depositeddeposited in the Collection Account as provided in this Article 5, but instead, the Servicer may commingle such Collections with its general funds or otherwise during each Monthly Period and make one or more deposits a single deposit in the Collection Account in immediately available funds not later than 12:00 p.m., New York City time, on the related each Series Transfer Date immediately preceding the related Payment Date in an amount equal to the lesser of (A) Collections received in the immediately preceding Monthly PeriodPeriod allocable to the Aggregate Investor Interests for each Group and (B) the amount required to be deposited in the Finance Charge Account, the Principal Account or any Series Account or, without duplication, distributed on or prior to the related Payment Date to the Secured Parties. If a Daily Payment Event shall have occurred or the Monthly Remittance Condition is not satisfiedaggregate amount of Collections then held by the Servicer or otherwise commingled with its general fund exceeds the Available Servicer Letter of Credit Amount, the Issuer shall or shall cause the Servicer under the Servicing Agreement to cause all Collections due and to become due, as the case may be, to be paid directly into the Collection Account as promptly as possible after the date of receipt of such Collections, but in no event later than the second Business Day following such date of identificationreceipt.
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Samples: Indenture (Conns Inc)
Collections in General. Subject to Unless otherwise specified in the last paragraph of this Section 5.4(a)Series Supplement, until this Indenture is terminated pursuant to Section 12.1, the Issuer shall or shall cause the Servicer under the Sale and Servicing Agreement to cause all Collections due and to become due, as the case may be, to be paid directly into the Collection Account as promptly as possible after the date of receipt of such Collections, but in no event later than the second Business Day following such date of receipt and identificationreceipt. All monies, instruments, cash and other proceeds received by the Servicer in respect of the Receivables Trust Estate pursuant to this Indenture and the Trust Estate shall be deposited in the Collection Account as specified herein and shall be applied as provided in this Article 5 and Article 6. The Servicer shall allocate such amounts to each Series of Notes and to the Issuer in accordance with this Article 5 and shall withdraw the required amounts from the Collection Account or pay such amounts to the Issuer in accordance with this Article 5, in both cases as modified by any Series Supplement. The Servicer shall make such deposits or payments on the date indicated therein by wire transfer or as otherwise provided in the Series Supplement for any Series of Notes with respect to such Series. Notwithstanding anything in this Base Indenture or the Servicing Agreement to the contrary, for so long as, and only so long as, AIC, or AICCO, or IP Finance I, or IP Finance II or IP Funding or an Affiliate thereof shall remain the Monthly Remittance Condition Servicer under the Sale and Servicing Agreement, and (a) the AIG Support Agreement as in effect on the Initial Closing Date remains in effect with respect to the Servicer and is satisfiednot terminated, amended or modified other than in accordance with its terms, and AIG or AIC has and maintains a long-term rating from Moody's and Standard & Poor's of at least Aa3 and AA, respectively, or (b) AIG or AIC has and maintains a commercial paper rating from Moody's and Standard & Poor's of at least P-l and A-l, respectively, the Issuer shall Servicer need not be required deposit Collections to cause the Servicer to make daily deposits of Collections into the Collection Account within two Business Days after identification in the manner provided in this Article 5 or, with respect to any Series, make daily payments from the Collection Account and daily deposits into the Finance Charge Account, the Principal Account or any Series Account as required under the Servicing Agreement provided in any applicable Series Supplement prior to the close of business on the day any such Collections are due to be deposited, but instead, the Servicer may commingle such Collections with its general funds or otherwise during each Monthly Period and make one or more deposits deposited in the Collection Account as provided in immediately available funds not later than 12:00 p.m.this Article 5, New York City time, but may make such deposits on the related Series Transfer Date immediately preceding the related Payment Date in an amount equal to the lesser of (A) Collections received in the immediately preceding Monthly Period allocable to the Aggregate Investor Interests for each Group and (B) the amount required to be deposited in the Finance Charge Account, the Principal Account or any Series Account or, without duplication, distributed on or prior to the related Payment Date to the Noteholders. Notwithstanding anything else in this Base Indenture to the contrary, with respect to any Monthly Period. If , whether the Monthly Remittance Condition Servicer is not satisfiedrequired to make monthly or daily deposits from the Collection Account into the Finance Charge Account, the Principal Account or any Series Account, as provided in any Series Supplement, (i) the Servicer will only be required to deposit Collections from the Collection Account into the Finance Charge Account, the Principal Account or any Series Account up to the required amount to be deposited into any such deposit account or, without duplication, distributed on or prior to the related Payment Date to Noteholders or to any Enhancement Provider pursuant to the terms of any Series Supplement or agreement relating to such Enhancement, (ii) if at any time prior to such Payment Date the amount of Collections deposited in the Collection Account exceeds the amount required to be deposited pursuant to clause (i) above, the Servicer may allocate such excess amount to the Issuer and pay such amount to the Issuer in accordance with subsection 5.4(c) and (iii) the Servicer will transfer to, or at the direction of, the Issuer shall or shall cause the Servicer under the Servicing Agreement to cause all Collections due and to become due, as the case may be, to be paid directly into the Collection Account as any amounts representing Credit Balances promptly as possible after the date of receipt of such Collections, but in no event later than the second Business Day following such date of identificationamounts.
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