Daily Collections Sample Clauses

Daily Collections. (a) Prior to the occurrence of either a Cash Dominion Trigger Date or Facility Termination Date, on each Business Day on which Collections are deposited in a Collection Account, promptly following the receipt of Collections in the form of available funds in such Collection Account, the Company shall set aside and hold on behalf of the Lenders such portion of the Collections required, in the reasonable discretion of the Master Servicer, for application in accordance with Section 4.1, Section 4.2, Section 17.2 (to be applied on the next occurring Interest Payment Date or Settlement Date), or the other provisions of this Agreement, as applicable (and shall, upon the request of the Administrative Agent, maintain such amounts in a segregated account or sub-account); and any remaining Collections shall be transferred by the Company to the Company Receipts Account for application, first, to payments of distributions in accordance with Section 5.1(a), and second, for any other purpose permitted under this Agreement; provided that (i) the transfer to the Company Receipts Account shall be made only if no Termination Event or Potential Termination Event has occurred and is continuing or would occur as a result of such distribution and (ii) no portion of such funds shall be applied by the Company to make any payment which is prohibited by the terms of this Agreement. (b) From and after the occurrence of a Cash Dominion Trigger Date but prior to the Facility Termination Date, on each Business Day on which Collections are deposited in a Collection Account, promptly following the receipt of Collections in the form of available funds in such Collection Account, the Company shall transfer all Collections on deposit in any Collection Account directly to the Company Concentration Account, such transfer to be completed by 9:45 a.m. New York time on the next succeeding Business Day following the day on which such Collections are received in the Collection Account, with each such individual transfer amount to be reported by the Master Servicer to the Administrative Agent by 10:00 a.m. New York time on the date of such transfer; provided, however, that if, at the time of a Cash Dominion Trigger Date or on any date thereafter, the Company Concentration Account has not been established, the Company shall (x) retain in the Collection Account all amounts that are required to be reserved under clauses (i) and (iii) below, (y) pay from the Collection Account to the Administrative Agen...

Daily Collections. (a) On each Business Day on which funds are deposited in a Collection Account, promptly following the receipt of Collections in the form of available funds in such Collection Account, the Company shall transfer all Collections on deposit in any Collection Account directly to the applicable Company Concentration Account, such transfer to be completed by 12:30 p.m. London time on the next succeeding Business Day following the day on which such Collections are received in the Collection Account, each such individual transfer amount to be reported by the Master Servicer to the Administrative Agent by 10:00 a.m. London time. (b) Promptly following the transfer of Collections to the applicable Company Concentration Account or the deposit by the Master Servicer of any Servicer Advance, but in no event later than the next succeeding Business Day of the Collections or Servicer Advance being received in such Company Concentration Accounts, the Master Servicer shall calculate (such calculations to be contained in the Daily Report delivered to the Company and the Administrative Agent) and make the following transfers, allocations and distributions by no later than 2.30pm (London time) based on the Aggregate Daily Collections (which shall include any Servicer Advance) as set forth in such Daily Report: (i) first, on each Business Day, an amount equal to the Accrued Expense Amount for such day (or, during the Revolving Period, such greater amount as the Master Servicer may request in writing) shall be transferred from the Company Concentration Account to the relevant Payments Reserve Subaccount; provided that: (A) on the tenth (10th) Business Day of each Distribution Period (and each Business Day thereafter, if necessary, until the full amount of any positive Accrued Expense Adjustment is transferred), (B) on any Borrowing Date (and each Business Day thereafter, if necessary, until the full amount of any positive Accrued Expense Adjustment is transferred), (C) on the day of any prepayment pursuant to Section 4.2, and (D) on the last Business Day of each Settlement Period, an amount equal to the Accrued Expense Adjustment shall, if such adjustment is a positive amount, be transferred from the relevant Company Concentration Account to the relevant Payments Reserve Subaccount, or if such adjustment is a negative amount, be transferred from the relevant Payments Reserve Subaccount to the relevant Company Concentration Account with respect to the same currency (or deducted f...

Daily Collections. If, at any time, either (i) with respect to any Accounts, the then current Servicer with respect to such Accounts does not have a short-term debt rating of at least A-1 by Standard & Poor’s and P-1 by Moody’s (if the then current Servicer is the original Servicer with respect to such Accounts or an affiliate of the original Servicer) or a short-term debt rating of at least A-1+ by Standard & Poor’s and P-1 by Moody’s (if the then current Servicer with respect to such Accounts is not the original Servicer or an affiliate of the original Servicer) or (ii) the conditions specified in clause (i) or pursuant to this clause (ii) are superseded by any conditions subsequently agreed to in writing by Discover Bank on behalf of the Holder of the Seller Certificate and either Rating Agency, and any of such subsequently agreed to conditions occurs; then, as promptly as possible after each Date of Processing with respect to the Receivables serviced by the applicable Servicer occurring on and after such event, but in no event later than two Business Days following such Date of Processing, such Servicer shall pay to, or at the direction of, the Master Servicer, for deposit into the Collections Account, from the Collections received by such Servicer on or after the date of such event and recorded on such Date of Processing, an amount equal to the sum of the Required Daily Deposits with respect to such Servicer for each Series then outstanding with respect to such Date of Processing; provided, that if the first such deposit occurs following a period during which such Servicer has been using Collections in accordance with Section 3.03(b), then, on the sixth Business Day following the event giving rise to the making of Required Daily Deposits by such Servicer, in addition to the Required Daily Deposits for that day, such Servicer shall pay to, or at the direction of, the Master Servicer, the amount that would have been on deposit in the Collections Account with respect to such Servicer had such Servicer been making the Required Daily Deposits since the beginning of the Due Period, less any amounts previously so paid or deposited. Amounts made available to any Servicer pursuant to Section 3.03 shall be repayable upon the occurrence of the conditions in this Section 4.03(b) in the manner and to the extent set forth herein.

Daily Collections. (i) On the Business Day Received, promptly following the receipt of Collections in the form of available funds in any Collection Account, the Company shall have authorized a transfer of all Collections on deposit in (A) any Collection Account with respect to the U.S. Originators directly to the applicable Company Concentration Account, such transfer to be completed by 12.30 p.m. London time on the next succeeding Business Day following the day on which such Collections are received in the Collection Account, each such individual transfer amount to be reported by the Master Servicer to the Trustee by 10:00 a.m. London time; and (B) any Collection Account with respect to the European Originators directly to the applicable Master Collection Account. (ii) Promptly following the transfer of Collections to the applicable Master Collection Account, the Master Servicer shall transfer, or cause to be transferred, such transfer to be completed by 12.30 p.m. London time on the next succeeding Business Day following the day on which such Collections are received in the Master Collection Accounts, an amount equal to the amount of Collections to the applicable Company Concentration Account. (iii) Promptly following the transfer of Collections to the applicable Company Concentration Account, but in no event later than the next succeeding Business Day of the Collections being received in such Company Concentration Accounts, the Master Servicer shall calculate (such calculations to be contained in the Daily Report) and direct the Trustee to make the transfers, allocations and distributions set forth in subsections 3.01(d), 3.01(e), 3.01(f), 3.01(g) ------------------- ------- ------- ------- and 3.01(h), as applicable, based on such U.S. Dollar ------- equivalent of such Aggregate Daily Collections as demonstrated in the Daily Report. (iv) If the Aggregate Daily Collections are deposited into a Company Concentration Account pursuant to the preceding subsection 3.01(d)(ii) at or before 12.30 ---------------------- p.m. London time, and the Daily Report specified in subsection 3.01(b)(ii) is received by the Trustee at or ---------------------- before 12:30 p.m. London time, the Trustee shall transfer, within a reasonable time, on such Business Day, from the Company Concentration Accounts, to the respective Series Concentration Accounts, an amount equal to the product of (x) the applicable Invested Percentage for such Outstanding Series and (y) such Aggregate Daily Collection...

Daily Collections. (i) Promptly following its receipt of Collections in the form of available funds in the Lockbox Accounts or Eligible Segregated Accounts, but in no event later than the Business Day following such receipt, the Servicer shall transfer, or cause to be transferred, all Collections on deposit (less the aggregate amount of set-offs permitted to be retained pursuant to any applicable Lockbox Agreement or Eligible Segregated Accounts Agreement) in the form of available funds in the Lockbox Accounts, or Eligible Segregated Accounts directly to the Collection Account. (ii) On the date funds become available in the Collection Account (unless received after 1:00 p.m., New York City time, on such date, then on the next Business Day) (the "DEPOSIT DATE"), the Trustee shall (in accordance with the written directions received from the Servicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) transfer from Aggregate Daily Collections for such Deposit Date, to the respective Series Collection Subaccount for each Outstanding Series, an amount equal to the product of (x) the applicable Invested Percentage for such Outstanding Series and (y) such Aggregate Daily Collections. (iii) On each Deposit Date, the Trustee shall (in accordance with the written directions received from the Servicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) allocate funds transferred to the Series Collection Subaccount for each Outstanding Series pursuant to subsection (d)(ii) above to the Series Non-Principal Collection Sub-subaccount, the Series Principal Collection Sub-subaccount and such other Sub-subaccounts of each such Series in accordance with the related Supplement for such Series. (iv) On each Deposit Date, except as otherwise provided in a Supplement, the Trustee shall (in accordance with the written directions received from the Servicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) transfer to the Company Collection Subaccount from Aggregate Daily Collections deposited into the Collection Account pursuant to subsection (d)(i) above on such Deposit Date, the remaining funds (less an amount equal to the costs and expenses, if any, incurred by the Trustee with respect to the sale of the Receivables pursuant to subsection 7.2(a) or 9.1(b) and reimbursable to the Trustee as provided in Section 8.5), if any, on deposit in the Collection Account on such date after giving effect to transfers to be ...

Daily Collections. (i) Promptly following its receipt of Collections in the form of available funds in the Lockbox Accounts, but in no event later than the Business Day following such receipt, the Servicer shall transfer, or cause to be transferred, all Collections on deposit (less the aggregate amount of set-offs permitted to be retained pursuant to any applicable Lockbox Agreement) in the form of immediately available funds in the Lockbox Accounts directly to the Collection Concentration Account, provided that in the event of and continuance of an Potential Early Amortization Period or Early Amortization Period, such funds shall be deposited directly into the Collection Account, without first being deposited into the Collection Concentration Account, and the Trustee shall instruct any Lockbox Processor to transfer all Collections in any Lockbox Account directly to the Collection Account.

Daily Collections. While Bridgestone/Firestone is the ----------------- Servicer, and subject to the availability of a Servicer Letter of Credit, it may hold for its own benefit all Collections, subject further, however, to this subsection 4.01(h). The Servicer shall deposit all Collections (including Collections then held by it) directly into the Collection Account as soon as possible after the Date of Processing thereof, but in no event later than two Business Days following such Date of Processing thereof, commencing in the event of any of the following: (i) the termination of Bridgestone/Firestone as Servicer; (ii) 35 days shall have passed from the date the Servicer received notice pursuant to Section 4.01A(b) of the downgrading of the short-term unsecured debt ratings of the Letter of Credit Bank below A-1+ by S&P, F-1+ by Fitch and P-1 by Xxxxx'x and either (A) there shall not have been delivered to the Trustee a substitute Servicer Letter of Credit in accordance with Section 4.01A(c) or (B) the Trustee shall not have made a demand for a Special Drawing under the Servicer Letter of Credit pursuant to Section 4.01A(e);

Daily Collections. If: ----------------- (i) the short-term deposit rating of the Servicer by Standard & Poor's is below A-1 or the short-term deposit rating of the Servicer by Xxxxx'x is below P-1; or (ii) First USA is not the Servicer; then within 5 Business Days of the occurrence of such event and thereafter, as promptly as possible after the Date of Processing of Collections with respect to the Receivables, but in no event later than two Business Days following such Date of Processing, the Servicer shall deposit all Collections directly into the Collection Account and the Collection Account shall be moved from the Servicer if then maintained with it. The Servicer shall notify the Trustee of any such event and shall provide the Trustee with the account number, account designation of such account and name of the institution with which such account has been established. Should the Servicer be required to make daily deposits of Collections into the Collection Account pursuant to this subsection, the Servicer may, upon the approval of each Rating Agency then rating any outstanding Series, make an estimated allocation of Collections between Finance Charge Receivables and Principal Receivables for the purposes of determining the amount of Collections to be so deposited; provided, however, that as soon as practical thereafter, the -------- ------- Servicer shall reconcile the estimated allocation of Collections with the actual allocation required under this Agreement.

Daily Collections. (i) Promptly following its receipt of Collections in the form of available funds in the Lockbox Accounts or Eligible Segregated Accounts, but in no event later than the Business Day following such receipt, the Servicer shall transfer, or cause to be transferred, all Collections on deposit (less the aggregate amount of set-offs permitted to be retained pursuant to any applicable Lockbox Agreement or Eligible Segregated Accounts Agreement) in the form of available funds in the Lockbox Accounts, or Eligible Segregated Accounts directly to the applicable Collection Concentration Account as follows: (A) all funds which are deposited in the United States, to the U.S. Dollar Collection Concentration Account; (B) all funds which are deposited in Canada in U.S. Dollars, to the Canada/U.S. Dollar Collection Concentration Account; and (C) all funds which are deposited in Canada in Canadian Dollars, to the Canada/Canadian Dollar Collection Concentration Account. All such transfers to the U.S. Dollar Collection Concentration Account and the Canada/U.S. Dollar Collection Concentration Account shall be made in U.S. Dollars. All such transfers to the Canada/Canadian Dollar Collection Concentration Account shall be made in Canadian Dollars. (ii) Promptly, but in no event later than the date of deposit (unless received after 3:00 p.m. New York City time, on such date, then on the next Business Day), the Trustee shall transfer amounts on deposit (a) in the U.S. Dollar Collection Concentration Account into the U.S. Dollar Collection Account, (b) in the Canada/U.S. Dollar Collection Concentration Account into the Canada/U.S. Dollar Collection Account and (c) in the Canada/Canadian Dollar Collection Concentration Account into the Canada/Canadian Dollar Collection Account. (iii) On the date funds become available in the U.S. Dollar Collection Account (unless received after 1:00 p.m., New York City time, on such date, then on the next Business Day) (the "Deposit Date"), the Trustee shall (in accordance with the written directions received from the Servicer pursuant to subsection (h) below, upon which the Trustee may conclusively rely) transfer from Aggregate Daily Collections for such Deposit Date, to the respective Series Collection Subaccount for each Outstanding Series, an amount equal to the product of (x) the applicable Invested Percentage for such Outstanding Series and (y) such Aggregate Daily Collections. (iv) On each Deposit Date, the Trustee shall (in accordance with th...

Daily Collections. (i) Promptly following its receipt of Collections in the form of available funds in the Lockbox Accounts, but in no event later than the Business Day following such receipt, the Servicer shall transfer, or cause to be transferred, all Collections on deposit (less the aggregate amount of set-offs permitted to be retained pursuant to any applicable Lockbox Agreement) in the 57 form of immediately available funds in the Lockbox Accounts directly to the Collection Account.