Common use of Collections Clause in Contracts

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two (2) Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am 11:00 a.m. New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two (2) Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two (2) Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each that the Rating Agency that Condition has been satisfied with respect to such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesschedule.

Collections. (a) Except as otherwise provided in this AgreementThe Servicer shall, the Servicer and shall cause any subservicer to, remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in with respect of to the Receivables Receivables, and all Net Liquidation Proceeds Proceeds, both as collected during the Collection Period, and in either case within two Business Days after receipt thereofof the date that the Servicer has identified and posted such amounts (which the Servicer shall use its reasonable best efforts to do promptly) to the Servicer’s computer system (the “Posted Date”). Notwithstanding the foregoing, for so long as: (i) NH Credit remains the Servicer, (ii) no Servicer Default shall have occurred and be continuing and (iii) prior to ceasing remittances as described in the Monthly Remittance Conditions preceding sentence, the Rating Agency Condition shall have been satisfied (and any conditions or limitations imposed by the Rating Agencies in connection therewith are satisfiedcomplied with), the Servicer shall not be required to remit such collections with respect to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account on the Transfer Date immediately following the end of such Collection Period. For purposes of this Article V, the phrase “payments by or on behalf of the Obligors” shall mean payments made with respect to the Receivables by Persons other than the Servicer or the Seller. On any Payment Date with respect to which the Backup Servicer shall have been acting as Successor Servicer during the related Collection Period, the Backup Servicer, in immediately available funds. Commencing its capacity as Successor Servicer, may direct the Indenture Trustee to withdraw from the Collection Account and pay to the Backup Servicer, in its capacity as Successor Servicer, the sum of any accrued amounts expended by such Successor Servicer in connection with the first day liquidation of any Liquidated Receivables, but solely to the first extent such amounts were not netted out of Liquidation Proceeds with respect of such Liquidated Receivables or previously recovered by such Successor Servicer pursuant to this Section 5.3; provided that, the amount that such Successor Servicer may withdraw from the Collection Account pursuant to this Section 5.3 on any Payment Date shall not exceed the aggregate amount of Liquidation Proceeds collected during the related Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds prior to such Payment Date. Any such withdrawals permissible under this Section 5.3 shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized made prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesdistributions under Section 5.6.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two (2) Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am 11:00 a.m. New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two (2) Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two (2) Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two (2) Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two (2) Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two (2) Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Precomputed Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 5.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Payahead Account within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 5.06(a)(i). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “Prime-1” by ▇▇▇▇▇’▇ and at least “F1” by Fitch (so long as ▇▇▇▇▇’▇ and Fitch are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided The Servicer shall establish the Subcollection Account in this Agreement, the name of the Indenture Trustee for the benefit of the Noteholders. The Subcollection Account shall be an Eligible Account satisfying clause (ii) of the definition of "Eligible Account," and shall initially be established with the Lockbox Bank. The Servicer shall remit daily directly to the Collection Subcollection Account without deposit into any intervening account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two received by the Servicer, in each case, as soon as practicable, but in no event later than the Business Days Day after receipt thereof. Notwithstanding Within two days of deposit of payments into the foregoing, for so long as the Monthly Remittance Conditions are satisfiedSubcollection Account, the Servicer shall not be required cause the Lockbox Bank to remit transfer all amounts credited to the Subcollection Account on account of such collections payments to the Collection Account. Amounts in the Subcollection Account on the foregoing daily basis but shall not be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereofinvested. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior acceptable to the failure of such Monthly Remittance Condition), Servicer if the Security Insurer consents in writing (so long as an Insurer Default shall not have occurred and be continuing) and the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction downgrading or withdrawal by the Rating Agency of the rating then assigned to any Class of the Notes. (b) Notwithstanding the provisions of subsection (a) hereof, the Servicer will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Monthly Period for amounts previously deposited in the Collection Account but later determined by the Servicer or the Lockbox Bank to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 4.6(iii) upon certification by the Servicer of such amounts and the provision of such information to the Indenture Trustee and the Security Insurer as may be necessary in the opinion of the Indenture Trustee and the Security Insurer to verify the accuracy of such certification. In the event that the Security Insurer has not received evidence satisfactory to it of the Servicer's entitlement to reimbursement pursuant to this Section 4.2(b), the Security Insurer shall (unless an Insurer Default shall have occurred and be continuing) give the Indenture Trustee notice to such effect, following receipt of which the Indenture Trustee shall not make a distribution to the Servicer in respect of such amount pursuant to Section 4.6, or if the Servicer prior thereto has been reimbursed pursuant to Section 4.6 or Section 4.8, the Indenture Trustee shall withhold such amounts from amounts otherwise distributable to the Servicer on the next succeeding Distribution Date.

Collections. (a) Except as otherwise provided in this Agreement, the The Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two Proceeds, both as collected during the Collection Period net of Monthly Servicing Fees and administrative fees allowed to be retained by the Servicer pursuant to Section 8.08 and net of charge backs (attributable to errors in posting, returned checks, or rights of offset for amounts that should not have been paid or that must be refunded as the result of a successful claim or defense under bankruptcy or similar laws) not later than the second Business Days after receipt thereofDay following the Business Day on which such amounts are received by the Servicer. Notwithstanding the foregoing, for so long as (a) UAC remains the Monthly Remittance Conditions Servicer, (b) no Event of Servicer Default shall have occurred and be continuing and (c)(1) UAC maintains a short-term rating of at least A-1 by Standard & Poor's and P-l by Moody's (and for five Business Days following a reduction in either such rating) or (2) prior to ceasing daily remittances, the Rating Agency Condition shall have been satisfied (and any conditions or limitations imposed by the Rating Agencies in connection therewith are satisfiedcomplied with) and the prior written consent of the Insurer (not to be unreasonably withheld) shall have been obtained, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall may remit all such collections in payments and Liquidation Proceeds with respect of the related to any Collection Period to the Collection Account on a less frequent basis, but in no event later than the Determination Date immediately available fundspreceding each Payment Date. Commencing The Servicer shall remit any Advances with the first day of the first respect to a Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereofor before the Determination Date. (b) The Servicer shall give Servicer, the Owner Trustee, the Trustee and/or Indenture Trustee shall deposit in the Collection Account any funds received by such parties in respect of funds drawn under the Policy from the Insurer. (c) If the Available Funds for a Payment Date are insufficient to pay current and each Rating Agency written notice of past due Insurance Premiums, or any amounts owing to the failure of any Monthly Remittance Condition (Insurer pursuant to the Insurance Agreement including, without limitation, reimbursements, indemnities, fees and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after expenses, plus accrued interest thereon, to the occurrence thereof. Notwithstanding the failure of any Monthly Remittance ConditionInsurer, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to shall notify the Owner Trustee and the Indenture Trustee written confirmation from each Rating Agency that of such alternative remittance schedule will not result deficiency, and the Available Spread Amount, if any, then on deposit in the reduction or withdrawal of the rating then assigned Spread Account (after giving effect to any Class of Noteswithdrawal to satisfy a deficiency in Monthly Interest or Monthly Principal) shall be available to cover such deficiency.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and at least “F-1” by Fitch (so long as ▇▇▇▇▇’▇ and ▇▇▇▇▇ are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by Moody’s and at least “A-1” by S&P (so long as Moody’s and S&P are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided The Servicer shall establish the Subcollection Account in this Agreement, the name of the Indenture Trustee for the benefit of the Noteholders. The Subcollection Account shall be an Eligible Account satisfying clause (ii) of the definition of "Eligible Account," and shall initially be established with the Indenture Trustee. The Servicer shall remit daily directly to the Collection Subcollection Account without deposit into any intervening account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two received by the Servicer, in each case, as soon as practicable, but in no event later than the Business Days Day after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect Within two days of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day deposit of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited payments into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner TrusteeSubcollection Account, the Indenture Trustee and each Rating Agency written notice shall transfer all amounts credited to the Subcollection Account on account of such payments to the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after Collection Account. Amounts in the occurrence thereofSubcollection Account shall not be invested. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior acceptable to the failure of such Monthly Remittance Condition), Servicer if the Security Insurer consents in writing (so long as an Insurer Default shall not have occurred and be continuing) and the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction downgrading or withdrawal by the Rating Agency of the rating then assigned to any Class of the Notes. (b) Notwithstanding the provisions of subsection (a) hereof, the Servicer will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Monthly Period for amounts previously deposited in the Collection Account but later determined by the Servicer or the Lockbox Bank to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 4.6(iii) upon certification by the Servicer of such amounts and the provision of such information to the Indenture Trustee and the Security Insurer as may be necessary in the opinion of the Indenture Trustee and the Security Insurer to verify the accuracy of such certification. In the event that the Security Insurer has not received evidence satisfactory to it of the Servicer's entitlement to reimbursement pursuant to this Section 4.2(b), the Security Insurer shall (unless an Insurer Default shall have occurred and be continuing) give the Indenture Trustee notice to such effect, following receipt of which the Indenture Trustee shall not make a distribution to the Servicer in respect of such amount pursuant to Section 4.6, or if the Servicer prior thereto has been reimbursed pursuant to Section 4.6 or Section 4.8, the Indenture Trustee shall withhold such amounts from amounts otherwise distributable to the Servicer on the next succeeding Distribution Date.

Collections. (a) Except as otherwise provided in this Agreement, the The Servicer shall remit daily within two Business Days of receipt thereof to the Collection Account all payments received by or on behalf of the Obligors on or in with respect of to the Receivables (other than Purchased Receivables) and all Net Liquidation Proceeds within two Business Days after receipt thereofProceeds, both as collected during the Monthly Period less any payments owed thereon to the Servicer. Notwithstanding the foregoing, for so long as (i) TMS Auto Finance remains the Monthly Remittance Conditions Servicer, (ii) no Servicer Default shall have occurred and be continuing, (iii) there exists no Insurer Default and the Security Insurer has furnished its prior written consent and (iv) the Rating Agency Condition shall have been satisfied (and any conditions or limitations imposed by the Rating Agencies in connection therewith are satisfiedcomplied with), the Servicer shall not be required to may remit such collections with respect to the preceding calendar month to the Collection Account on the foregoing daily basis but Determination Date immediately preceding the related Distribution Date. For purposes of this Article V the phrase "payments by or on behalf of Obligors" shall be entitled mean payments made with respect to retain such collections, without segregation from its the Receivables by Persons other funds, until 11:00am New York time on each Payment Date, at which time than the Servicer shall remit all such collections in respect of or the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereofSeller. (b) The Servicer will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Monthly Period for amounts previously deposited in the Collection Account but later determined by the Servicer to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 5.6(b)(ii) upon certification by the Servicer of such amounts and the provision of such information to the Trustee and the Security Insurer as may be necessary in the opinion of the Security Insurer to verify the accuracy of such certification. In the event that the Security Insurer has not received evidence satisfactory to it of the Servicer's entitlement to reimbursement pursuant to Section 5.2(b), the Security Insurer shall (unless an Insurer Default shall have occurred and be continuing) give the Owner TrusteeTrustee notice to such effect, following receipt of which the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of shall not make a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, distribution to the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure in respect of such Monthly Remittance Condition)amount pursuant to Section 5.6, or if the Servicer provides prior thereto has been reimbursed pursuant to Section 5.6 or Section 5.9, the Trustee shall withhold such amounts from amounts otherwise distributable to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in Servicer on the reduction or withdrawal of the rating then assigned to any Class of Notesnext succeeding Distribution Date.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and at least “F-1” by Fitch (so long as ▇▇▇▇▇’▇ and Fitch are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two (2) Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am 11:00 a.m. New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two (2) Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two (2) Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any the Class of A Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and at least “A-1” by S&P (so long as ▇▇▇▇▇’▇ and S&P are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and “A-1” by S&P (so long as ▇▇▇▇▇’▇ and S&P are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided in this AgreementThe Servicer shall, the Servicer and shall cause any subservicer to, remit daily within two Business Days of receipt thereof to the Collection Account all payments received by or on behalf of the Obligors on or in with respect of to the Receivables Receivables, and all Net Liquidation Proceeds within two Business Days after receipt thereofProceeds, both as collected during the Collection Period. Notwithstanding the foregoing, for so long as: (i) NH Credit remains the Servicer, (ii) no Servicer Default shall have occurred and be continuing and (iii) prior to ceasing remittances as described in the Monthly Remittance Conditions preceding sentence, the Rating Agency Condition shall have been satisfied (and any conditions or limitations imposed by the Rating Agencies in connection therewith are satisfiedcomplied with), the Servicer shall not be required to remit such collections with respect to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account on the Transfer Date immediately following the end of such Collection Period. For purposes of this Article V, the phrase “payments by or on behalf of the Obligors” shall mean payments made with respect to the Receivables by Persons other than the Servicer or the Seller. On any Payment Date with respect to which the Backup Servicer shall have been acting as Successor Servicer during the related Collection Period, the Backup Servicer, in immediately available funds. Commencing its capacity as Successor Servicer, may direct the Indenture Trustee to withdraw from the Collection Account and pay to the Backup Servicer, in its capacity as Successor Servicer, the sum of any accrued amounts expended by such Successor Servicer in connection with the first day liquidation of any Liquidated Receivables, but solely to the first extent such amounts were not netted out of Liquidation Proceeds with respect of such Liquidated Receivables or previously recovered by such Successor Servicer pursuant to this Section 5.3; provided that, the amount that such Successor Servicer may withdraw from the Collection Account pursuant to this Section 5.3 on any Payment Date shall not exceed the aggregate amount of Liquidation Proceeds collected during the related Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds prior to such Payment Date. Any such withdrawals permissible under this Section 5.3 shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized made prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesdistributions under Section 5.6.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Precomputed Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as (i) TMCC is the Servicer, (ii) either (a) TMCC's short-term unsecured debt is rated P-1 by Moody's and A-1 by Standard & Poor's (so long as Moody's and Standard & Poor's are Rating Agencies), or (b) certain arrangements are made that have been approved in writing by each Rating Agency and (iii) an Event of Default shall not have occurred and be continuing (collectively, the "Monthly Remittance Conditions are satisfiedConditions"), the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Distribution Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition Conditions is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 4.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Collection Account or the Payahead Account within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 4.06(a)(i). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of NotesRated Certificates.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Precomputed Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 5.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Payahead Account within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 5.06(a)(i). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of Notes. [In the event that any class of Notes is issued with a Revolving Period, Collections designated for payment of principal on such class of Notes shall be deposited in an account established by the Servicer pursuant to Section 5.1 for the purpose of purchase of additional Receivables.]

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1”, “F1” or “A-1”, as applicable, by at least two of ▇▇▇▇▇’▇, Fitch and S&P Global Ratings, respectively; provided, however, if at any time NMAC’s short-term 37 (NAROT 2017-C Sale and Servicing Agreement) unsecured debt obligations are rated lower than “P-1” by Moody’s, the Monthly Remittance Condition shall be deemed not satisfied at such time. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “Prime-1” by ▇▇▇▇▇’▇ and at least “F1” by Fitch (so long as ▇▇▇▇▇’▇ and Fitch are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency 37 (Nissan 2017-B Sale and Servicing Agreement) Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and at least “F2” by Fitch (so long as ▇▇▇▇▇’▇ and Fitch are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided The Servicer shall establish the Subcollection Account in this Agreement, the name of the Indenture Trustee for the benefit of the Certificateholders and the Noteholders. The Subcollection Account shall be an Eligible Account satisfying clause (ii) of the definition of "Eligible Account," and shall initially be established with the Indenture Trustee. The Servicer shall remit daily directly to the Collection Subcollection Account without deposit into any intervening account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two received by the Servicer, in each case, as soon as practicable, but in no event later than the Business Days Day after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect Within two days of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day deposit of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited payments into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner TrusteeSubcollection Account, the Indenture Trustee and each Rating Agency written notice shall transfer all amounts credited to the Subcollection Account on account of such payments to the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after Collection Account. Amounts in the occurrence thereofSubcollection Account shall not be invested. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior acceptable to the failure of such Monthly Remittance Condition), Servicer if the Security Insurer consents in writing (so long as an Insurer Default shall not have occurred and be continuing) and the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction downgrading or withdrawal by the Rating Agency of the rating then assigned to any Class of the Certificates or the Notes. (b) Notwithstanding the provisions of subsection (a) hereof, the Servicer will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Monthly Period for amounts previously deposited in the Collection Account but later determined by the Servicer or the Lockbox Bank to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 4.6(iii) upon certification by the Servicer of such amounts and the provision of such information to the Indenture Trustee and the Security Insurer as may be necessary in the opinion of the Indenture Trustee and the Security Insurer to verify the accuracy of such certification. In the event that the Security Insurer has not received evidence satisfactory to it of the Servicer's entitlement to reimbursement pursuant to this Section 4.2(b), the Security Insurer shall (unless an Insurer Default shall have occurred and be continuing) give the Indenture Trustee notice to such effect, following receipt of which the Indenture Trustee shall not make a distribution to the Servicer in respect of such amount pursuant to Section 4.6, or if the Servicer prior thereto has been reimbursed pursuant to Section 4.6 or Section 4.8, the Indenture Trustee shall withhold such amounts from amounts otherwise distributable to the Servicer on the next succeeding Distribution Date.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and at least “F-1” by Fitch (so long as ▇▇▇▇▇’▇ and Fitch are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation 36 (NAROT 2023-B Sale and Servicing Agreement) Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and at least “F2” by Fitch (so long as ▇▇▇▇▇’▇ and Fitch are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee be segregated from its own funds. 36 (NAROT 2019-B Sale and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.Servicing Agreement)

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and at least “A-1” by S&P (so long as ▇▇▇▇▇’▇ and S&P are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee be segregated from its own funds. 36 (NAROT 2020-A Sale and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.Servicing Agreement)

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Precomputed Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as (i) TMCC is the Servicer, (ii) either (a) TMCC's short-term unsecured debt is rated P-1 by Moody's and A-1 by Standard & Poor's (so long as Moody's and Standard & Poor's are Rating Agencies), or (b) certain arrangements are made that are acceptable to the Rating Agencies and (iii) no Servicing Default or Event of Default shall have occurred and be continuing (collectively, the "Monthly Remittance Conditions are satisfiedConditions"), the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Distribution Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition Conditions is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 5.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Payahead Account within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 5.06(a)(ii). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of NotesNotes or the Certificates.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Precomputed Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition Conditions is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 5.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Payahead Account within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 5.06(a)(i). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of NotesNotes or the Certificates.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “P-1” by ▇▇▇▇▇’▇ and “A-1” by S&P (so long as ▇▇▇▇▇’▇ and S&P are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the 37 (NAROT 2018-C Sale and Servicing Agreement) Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each 36 (Nissan 2016-A Sale and Servicing Agreement) Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated at least “Prime-1” by ▇▇▇▇▇’▇ and at least “F1” by Fitch (so long as ▇▇▇▇▇’▇ and Fitch are Rating Agencies). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence identification thereof. Notwithstanding the failure of any Monthly Remittance Conditionforegoing, the Servicer may utilize an alternative collection remit Collections to the Collection Account on any other alternate remittance schedule (which but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if commingled and used by the Servicer provides at its own risk and are not required to the Owner Trustee and Indenture Trustee written confirmation be segregated from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesits own funds.

Collections. (a) Except as otherwise provided The Servicer shall establish the Subcollection Account in this Agreementthe name of the Indenture Collateral Agent for the benefit of the Noteholders. The Subcollection Account shall be an Eligible Account satisfying clause (i) of the definition of "Eligible Account," and shall initially be established with First Interstate Bank, the N. A. The Servicer shall remit daily directly to the Collection Subcollection Account without deposit into any intervening account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two received by the Servicer, in each case, as soon as practicable, but in no event later than the Business Days Day after receipt thereof. Notwithstanding Within two days of deposit of payments into the foregoing, for so long as the Monthly Remittance Conditions are satisfiedSubcollection Account, the Servicer shall not cause all amounts credited to the Subcollection Account on account of such payments to be required to remit such collections transferred to the Collection Account. Amounts in the Subcollection Account on the foregoing daily basis but shall not be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereofinvested. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure provisions of any Monthly Remittance Conditionsubsection (a) hereof, the Servicer may utilize an alternative collection remittance schedule (which will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Monthly Period for amounts previously deposited in the Collection Account but later determined by the Servicer or the Lockbox Bank to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 4.6(i) upon certification by the Servicer of such amounts and the provision of such information to the Trustee and the Security Insurer as may be necessary in the remittance schedule previously utilized prior opinion of the Trustee and the Security Insurer to verify the accuracy of such certification. In the event that the Security Insurer has not received evidence satisfactory to it of the Servicer's entitlement to reimbursement pursuant to this Section 4.2(b), the Security Insurer shall (unless an Insurer Default shall have occurred and be continuing) give the Trustee notice to such effect, following receipt of which the Trustee shall not make a distribution to the failure Servicer in respect of such Monthly Remittance Condition)amount pursuant to Section 4.6, or if the Servicer provides prior thereto has been reimbursed pursuant to Section 4.6 or Section 4.8, the Trustee shall withhold such amounts from amounts otherwise distributable to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in Servicer on the reduction or withdrawal of the rating then assigned to any Class of Notesnext succeeding Distribution Date.

Collections. (a) Except as otherwise provided in this Agreement, the The Master Servicer and each sub-servicer shall remit daily within two Business Days of receipt thereof (provided, however, that if the payment is not readily identifiable as a payment on a Trust Student Loan, within two Business Days of being so identified) to the Collection Account all payments received by or on behalf of the Obligors on or in with respect of to the Receivables Trust Student Loans (other than Purchased Student Loans), and all Net Liquidation Proceeds Proceeds, both as collected during the Collection Period, and the Eligible Lender Trustee shall remit within two Business Days after of receipt thereofthereof to the Collection Account any Interest Subsidy Payments and Special Allowance Payments received by it with respect to the Trust Student Loans during the Collection Period (provided, however, that if the payment is not readily identifiable as a payment on a Trust Student Loan, within two Business Days of being so identified). Notwithstanding the foregoing, for so long as no Administrator Default shall have occurred and be continuing and the Monthly Remittance Conditions are satisfiedAdministrator has a rating of at least [___] from [______], each of the Master Servicer, the Servicer sub-servicers and the Eligible Lender Trustee shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least within two Business Days after of receipt thereof to the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition Administrator (provided, however, that if the payment is not satisfiedreadily identifiable as a payment on a Trust Student Loan, all within two Business Days of being so identified), and the Administrator need not deposit such collections then held by the Servicer shall be immediately deposited into the Collection Account and until one Business Day immediately prior to the next following Monthly Servicing Payment Date. In the event that the foregoing condition for ceasing daily remittances shall no longer be satisfied, then the Administrator shall deposit all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted held by the Servicer to it into the Collection Account on a daily basis within two Business Days after of receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Precomputed Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as (i) TMCC is the Servicer, (ii) either (a) TMCC's short-term unsecured debt is rated ___ by Moody's and ___ by Standard & Poor's (so long as Moody's and Standard & Poor's are Rating Agencies), or (b) certain arrangements are made that have been approved in writing by each Rating Agency and (iii) an Event of Default shall not have occurred and be continuing (collectively, the "Monthly Remittance Conditions are satisfiedConditions"), the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Distribution Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition Conditions is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 4.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Payahead Account within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 4.06(a)(ii). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of NotesRated Certificates.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all Collections (other than payments received by or on behalf of Repurchased Receivables) not later than the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two second Business Days Day after receipt identification thereof. Notwithstanding the foregoing; provided, for so long as however, that if the Monthly Remittance Conditions are Condition is satisfied, then the Servicer shall not be required to remit such collections to deposit into the Collection Account on an amount equal to the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Collections received during the related Collection Period until the Business Day before each Distribution Date. The “Monthly Remittance Condition” shall be deemed to be satisfied if (i) NMAC is the Collection Account in immediately available fundsServicer and (ii) NMAC’s short-term unsecured debt obligations are rated [at least “F2” by Fitch[,] [and]] [at least “P-1” by Moody’s] [and at least “A-1” by S&P]. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any the Monthly Remittance Condition is not satisfied, all collections Collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections Collections on or in respect of the Receivables (other than payments on Repurchased Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account not later than the second Business Day after identification thereof. Notwithstanding the foregoing, the Servicer may remit Collections to the Collection Account on a daily basis within two Business Days after receipt thereofany other alternate remittance schedule (but not later than the related Distribution Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule. Pending deposit into the Collection Account, Collections may be commingled and used by the Servicer at its own risk and are not required to be segregated from its own funds. (b) [The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice will promptly, on the date of receipt, deposit into the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after Collection Account all Net [Swap][Cap] Receipts received by it under the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result Interest Rate [Swap][Cap] Agreement in the reduction or withdrawal of the rating then assigned to any Class of Notesimmediately available funds.]

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Precomputed Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as (i) TMCC is the Servicer, (ii) either (a) TMCC's short-term unsecured debt is rated ___ by Moody's ___ by Standard & Poor's (so long as Moody's and Standard & Poor's are Rating Agencies), or (b) certain arrangements are made that are acceptable to the Rating Agencies and (iii) no Servicing Default or Event of Default shall have occurred and be continuing (collectively, the "Monthly Remittance Conditions are satisfiedConditions"), the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Distribution Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition Conditions is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 5.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Payahead Account within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 5.06(a)(ii). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of NotesNotes or the Certificates.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer or the Indenture Trustee, as applicable, shall promptly, on the date of receipt thereof, deposit into the Collection Account all Net Swap Receipts received by it under the Interest Rate Swap Agreement in immediately available funds. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day prior to each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this AgreementSubject to the continued satisfaction of the commingling conditions described below, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors with respect to the Receivables (other than Purchased Receivables and not including Fixed Value Payments), all Liquidation Proceeds and any subsequent Recoveries, both as collected during a Collection Period, on or in respect of prior to (i) the Receivables and all Net Liquidation Proceeds within two Business Days after receipt thereofPayment Determination Date preceding the related Payment Date or (ii) if the Rating Agency Condition has been satisfied, prior to 11:00 A.M. (New York time) on the related Payment Date. Notwithstanding the foregoing, for if any of the commingling conditions ceases to be met, the Servicer shall remit to the Collection Account all payments by or on behalf of the Obligors with respect to the Receivables (other than Purchased Receivables and not including Fixed Value Payments), all Liquidation Proceeds and any subsequent Recoveries within two Business Days of receipt thereof. The commingling conditions are as follows: (i) CFC must be the Servicer, (ii) no Servicer Default shall have occurred and be continuing and (iii) (x) CFC must maintain a short-term rating of at least A-1 by Standard & Poor's and P-1 by Moody's or (y) if daily remittances occur hereunder, prior to ceasing daily remittances, the Rating Agency Condition shall have been satisfied (and any conditions or limitations imposed by the Rating Agencies in connection therewith are complied with). Notwithstanding anything herein to the contrary, so long as CFC is the Monthly Remittance Conditions Servicer, CFC may withhold from the deposit into the Collection Account any amounts indicated on the related Servicer's Certificate as being due and payable to CFC or the Seller and pay such amounts directly to CFC or the Seller, as applicable. For purposes of this Article V, the phrase "payments by or on behalf of Obligors" shall mean payments made with respect to the Receivables by Persons other than the Servicer or the Seller. In the event the commingling conditions cease to be met, the Servicer shall make daily remittance of collections to the Collection Account within two Business Days of receipt thereof; provided however, daily remittance may commence no later than five Business Days following a reduction of CFC's short-term ratings below A-1 by Standard & Poor's or P-1 by Moody's. Notwithstanding anything to the contrary in this Section, if the Class A-1 Notes have not been paid in full prior to the Class A-1 Special Payment Date and the commingling conditions referred to in the preceding paragraph are satisfied, the Servicer shall not be required to remit such collections to deposit into the Collection Account on January 28, 2000 the foregoing daily basis but shall be entitled collections received by it prior to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time date during the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfiedJanuary 28, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof2000 falls. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (excluding payments on the Warranty Receivables or the Administrative Receivables) and all Net Liquidation Proceeds within two not later than the second Business Days Day after receipt identification thereof. For purposes of this Article V, the phrase “payments received by or on behalf of the Obligors” shall mean payments made by Persons other than the Servicer. Notwithstanding the foregoing, for so long as no Servicer Default has occurred and is continuing, and the Monthly Remittance Conditions requirements and conditions are satisfiedsatisfied for the Servicer to be permitted to make monthly deposits to the related collection account in the most recent publicly registered issuance of securities backed by (i) a special unit of beneficial interest representing a beneficial interest in a pool of vehicle leases originated in the United States for a lessee with a United States address and the related leased vehicles or (ii) motor vehicle retail installment contracts originated in the United States for which the Seller, or any United States Affiliate thereof, acts as a depositor (such most recent issuance referred to herein as the “Public ABS Transaction”) (including that no such requirements or conditions need be satisfied in order to permit the Servicer to be permitted to make monthly deposits to the related collection account in the Public ABS Transaction), the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to may retain such collections, without segregation from its other funds, amounts until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of Business Day preceding the related Collection Period to the Collection Account in immediately available fundsDistribution Date. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables (other than payments on Warranty Receivables and the Administrative Receivables) and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two not later than the second Business Days Day after receipt identification thereof. (b) [Reserved.] (c) The Indenture Trustee or the Owner Trustee shall not be deemed to have knowledge of any event or circumstances under clause (iii) of the definition of the Monthly Remittance Condition unless the Indenture Trustee or the Owner Trustee has received notice of such event or circumstance from the Seller or the Servicer in an Officer’s Certificate or from the Holders of Notes evidencing not less than 25% in principal amount of the Outstanding Amount of the Notes, or a Trust Officer of the Indenture Trustee or the Owner Trustee with knowledge hereof or familiarity herewith has actual knowledge of such event or circumstances. (d) The Servicer shall give (i) the Owner Trustee, Trustee and the Indenture Trustee written notice as soon as practical after the occurrence thereof but in no event later than 10 Business Days after obtaining knowledge thereof and (ii) each Rating Agency prompt written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) (it being understood that if the Monthly Remittance Condition is not satisfied as soon as practical after of the occurrence thereof. Closing Date, no such notice shall be required in connection therewith). (e) Notwithstanding the failure of any foregoing, if a Monthly Remittance ConditionCondition is not satisfied, the Servicer may utilize an alternative collection remittance schedule (which may be include the remittance schedule previously utilized prior to by the failure of such Servicer before the Monthly Remittance ConditionCondition became unsatisfied), if the Servicer provides to the Owner Trustee and the Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction downgrading or withdrawal by such Rating Agency of the rating ratings then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this AgreementThe Servicer shall, the Servicer and shall cause any subservicer to, remit daily within two Business Days of receipt thereof to the Collection Account all payments received by or on behalf of the Obligors on or in with respect of to the Receivables Receivables, and all Net Liquidation Proceeds within two Business Days after receipt thereofProceeds, both as collected during the Collection Period. Notwithstanding the foregoing, for so long as as: (i) CNHCA remains the Monthly Remittance Conditions Servicer, (ii) no Servicer Default shall have occurred and be continuing and (iii) prior to ceasing daily remittances, the Rating Agency Condition shall have been satisfied (and any conditions or limitations imposed by the Rating Agencies in connection therewith are satisfiedcomplied with), the Servicer shall not be required to remit such collections with respect to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account on the Transfer Date immediately following the end of such Collection Period. For purposes of this Article V, the phrase “payments by or on behalf of the Obligors” shall mean payments made with respect to the Receivables by Persons other than the Servicer or the Seller. On any Payment Date, with respect to which the Backup Servicer shall have been acting as Successor Servicer during the related Collection Period, the Backup Servicer, in immediately available funds. Commencing its capacity as Successor Servicer, may direct the Indenture Trustee to withdraw from the Collection Account and pay to the Backup Servicer, in its capacity as Successor Servicer, the sum of any accrued amounts expended by such Successor Servicer in connection with the first day liquidation of any Liquidated Receivables, but solely to the first extent such amounts were not netted out of Liquidation Proceeds with respect of such Liquidated Receivables or previously recovered by such Successor Servicer pursuant to this Section 5.3; provided that, the amount that such Successor Servicer may withdraw from the Collection Account pursuant to this Section 5.3 on any Payment Date shall not exceed the aggregate amount of Liquidation Proceeds collected during the related Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds prior to such Payment Date. Any such withdrawals permissible under this Section 5.3 shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized made prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the reduction or withdrawal of the rating then assigned to any Class of Notesdistributions under Section 5.6.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Actuarial Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 5.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Payahead Account within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 5.06(a)(i). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the Servicer shall remit daily to the Collection Account all payments received by or on behalf of the Obligors on or in respect of the Receivables (other than, in the case of Precomputed Receivables, payments constituting Payments Ahead) and all Net Liquidation Proceeds within two Business Days after receipt thereof. Notwithstanding the foregoing, for so long as the Monthly Remittance Conditions are satisfied, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on the Business Day before each Payment Date, Date at which time the Servicer shall remit all such collections in respect of the related Collection Period to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) Except as otherwise provided in this Agreement, the Servicer shall deposit all Payments Ahead in the Collection Account within two Business Days after receipt thereof, which Payments Ahead shall be transferred to the Payahead Account pursuant to Section 5.06(a)(ii). Notwithstanding the foregoing, so long as all Monthly Remittance Conditions are satisfied, the Servicer will not be required to deposit Payments Ahead in the Payahead Account 37 within two Business Days after receipt thereof but shall be entitled to retain such Payments Ahead, without segregation from its other funds, until such time as the Servicer shall be required to remit Applied Payments Ahead to the Collection Account pursuant to Section 5.06(a)(i). Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as all Monthly Remittance Conditions are not satisfied, all Payments Ahead then held by the Servicer shall be immediately deposited into the Payahead Account and all future Payments Ahead shall be remitted by the Servicer to the Payahead Account within two Business Days after receipt thereof. (c) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection or Payment Ahead remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in the qualification, reduction or withdrawal of the rating then assigned to any Class of Notes.

Collections. (a) Except as otherwise provided in this Agreement, the The Servicer shall remit daily to the Collection Account all payments amounts received by or on behalf of the Obligors Servicer on or in respect of the Receivables (including Liquidation Proceeds and all Net Liquidation Proceeds within two amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable) but excluding payments with respect to Purchased Receivables) as soon as practicable and in no event after the close of business on the second Business Days day after receipt thereof. Notwithstanding the foregoingsuch receipt; provided, however, that for so long as (i) CarMax is the Servicer, (ii) no Event of Servicing Termination shall have occurred and be continuing and (iii) the Rating Agency Condition shall have been satisfied (each, a "Monthly Remittance Conditions are satisfiedCondition"), the Servicer shall not be required to may remit any such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related amounts received during any Collection Period to the Collection Account in immediately available funds. Commencing with funds on the first day of Business Day preceding the first Distribution Date following such Collection Period (it being understood that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases has not been satisfied as of the Closing Date); and, provided further, that any such amounts are received in respect of a Receivable as to which there is an outstanding and unreimbursed Simple Interest Advance, such amounts shall, to the extent of any such unreimbursed Simple Interest Advance, be satisfied and for so long as any Monthly Remittance Condition is not satisfied, all collections then held retained by the Servicer in reimbursement of itself. The Servicer shall be immediately deposited into likewise remit to the Collection Account all Liquidation Proceeds in respect of a Receivable as to which there is an outstanding and all future collections unreimbursed Simple Interest Advance after deducting therefrom the amount of such outstanding and unreimbursed Simple Interest Advance. Notwithstanding the foregoing, the Servicer may, in the event that the Servicer determines that it has made an Unreimbursed Servicer Advance, reimburse itself from unrelated amounts received by the Servicer on or in respect of the Receivables (including Liquidation Proceeds and all Net Liquidation Proceeds shall be remitted amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent that the Servicer shall, concurrently with the withholding of any such amounts from deposit into the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trusteeas required above, furnish to the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides to the Owner Trustee a certificate of a Servicing Officer setting forth the basis for the Servicer's determination, the amount of and Receivable with respect to which such Unreimbursed Servicer Advance was made and the installment or installments or other proceeds respecting which reimbursement has been taken; provided, however, that the Servicer must provide such certificate within three months of such reimbursement. The Owner Trustee and the Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will shall not result in the reduction be deemed to have knowledge of any event or withdrawal of the rating then assigned to any Class of Notes.circumstance under clause (ii) or

Collections. (a) Except as otherwise provided in this Agreement, the The Servicer shall remit daily to the Collection Account (i) all payments received by or on behalf of the Obligors (including Payaheads on or in respect of the Receivables but excluding Purchased Receivables) and (ii) all Net Liquidation Proceeds within two Business Days after receipt thereofProceeds, both as collected during the Collection Period. Notwithstanding Ford Motor Credit Company, so long as it is acting as the foregoingServicer, may make remittances of collections on a less frequent basis than that specified in the immediately preceding sentence. It is understood that such less frequent remittances may be made only on the specific terms and conditions set forth below in this Section 14.2 and only for so long as such terms and conditions are fulfilled. Accordingly, notwithstanding the Monthly Remittance Conditions are satisfiedprovisions of the first sentence of this Section 14.2, the Servicer shall not be required to remit such collections to the Collection Account on the foregoing daily basis but shall be entitled to retain such collections, without segregation from its other funds, until 11:00am New York time on each Payment Date, at which time the Servicer shall remit all such collections in respect of the related received during a Collection Period to the Collection Account in immediately available funds. Commencing with funds on the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and related Distribution Date but only for so long as any each Monthly Remittance Condition is satisfied. Notwithstanding the foregoing, if a Monthly Remittance Condition is not satisfied, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, satisfied the Servicer may utilize an alternative collection remittance schedule (which may be include the remittance schedule previously utilized prior to by the failure of such Servicer before the Monthly Remittance ConditionCondition became unsatisfied), if the Servicer provides to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency rating agency which has an outstanding rating on the Class A Certificates and was requested by the Seller or an affiliate to rate the Class A Certificates that such alternative remittance schedule will not result in the reduction downgrading or withdrawal by such rating agencies of the rating ratings then assigned to the Class A Certificates. The Trustee shall not be deemed to have knowledge of any event or circumstance under clause (iii) of the definition of Monthly Remittance Condition that would require daily remittance by the Servicer to the Collection Account unless the Trustee has received notice of such event or circumstance from the Seller or the Servicer in an Officer's Certificate or from the Holders of Class A Certificates evidencing not less than 25% of Notesthe Class A Certificate Balance or a Trustee Officer in the Corporate Trust Office with knowledge hereof or familiarity herewith has actual knowledge of such event or circumstance. For purposes of this Article XIV the phrase "payments by or on behalf of Obligors" shall mean payments made by Persons other than the Servicer or by other means.

Collections. (a) Except as otherwise provided The Servicer shall establish the Subcollection Account in this Agreement, the name of the Trustee for the benefit of the Certificateholders. The A. The Servicer shall remit daily directly to the Collection Subcollection Account without deposit into any intervening account all payments received by or on behalf of the Obligors on or in respect of the Receivables and all Net Liquidation Proceeds within two received by the Servicer, in each case, as soon as practicable, but in no event later than the Business Days Day after receipt thereof. Notwithstanding Within two days of deposit of payments into the foregoing, for so long as the Monthly Remittance Conditions are satisfiedSubcollection Account, the Servicer shall not cause all amounts credited to the Subcollection Account to be required to remit such collections transferred to the Collection Account. Amounts in the Subcollection Account on shall not be invested. (a) Notwithstanding the foregoing daily basis but shall provisions of subsection (a) hereof, the Servicer will be entitled to retain such collections, without segregation be reimbursed from its other funds, until 11:00am New York time amounts on each Payment Date, at which time deposit in the Collection Account with respect to a Collection Period for amounts previously deposited in the Collection Account but later determined by the Servicer or the Lockbox Bank to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall remit all be paid to the Servicer on the related Distribution Date pursuant to Section 5.5(a)(i) upon certification by the Servicer of such collections amounts and the provision of such information to the Trustee and the Security Insurer as may be necessary in the opinion of the Trustee and the Security Insurer to verify the accuracy of such certification. In the event that the Security Insurer has not received evidence satisfactory to it of the Servicer's entitlement to reimbursement pursuant to this Section, the Security Insurer shall (unless an Insurer Default shall have occurred and be continuing) give the Trustee notice to such effect, following receipt of which the Trustee shall not make a distribution to the Servicer in respect of the related Collection Period such amount pursuant to the Collection Account in immediately available funds. Commencing with the first day of the first Collection Period that begins at least two Business Days after the day on which any Monthly Remittance Condition ceases to be satisfied and for so long as any Monthly Remittance Condition is not satisfiedSection 5.5, all collections then held by the Servicer shall be immediately deposited into the Collection Account and all future collections on or in respect of the Receivables and all Net Liquidation Proceeds shall be remitted by the Servicer to the Collection Account on a daily basis within two Business Days after receipt thereof. (b) The Servicer shall give the Owner Trustee, the Indenture Trustee and each Rating Agency written notice of the failure of any Monthly Remittance Condition (and any subsequent curing of a failed Monthly Remittance Condition) as soon as practical after the occurrence thereof. Notwithstanding the failure of any Monthly Remittance Condition, the Servicer may utilize an alternative collection remittance schedule (which may be the remittance schedule previously utilized prior to the failure of such Monthly Remittance Condition), if the Servicer provides prior thereto has been reimbursed pursuant to Section 5.5 or Section 5.6, the Trustee shall withhold such amounts from amounts otherwise distributable to the Owner Trustee and Indenture Trustee written confirmation from each Rating Agency that such alternative remittance schedule will not result in Servicer on the reduction or withdrawal of the rating then assigned to any Class of Notesnext succeeding Distribution Date.